A major bank agrees our housing market boom, could have peaked

The CoreLogic House Price Index shows nationwide property values increased by 2.6 per cent over February, but suggests the current growth rate will likely ease.

Tauranga saw a 1.5 per cent dip in values last month.

Westpac chief economist Dominick Stephens says the forecast is for prices to rise 17 per cent this year - but the market will also gradually slow.

He says he expect mortgage rates to rise and we are building now far in excess to population growth.