2022 could see a shift to a buyer's property market

New Core Logic figures, released overnight, show the value of the average New Zealand home has now surpassed one million dollars for the first time.

And the research suggests the number of property listings are starting to rise in places like Wellington and Dunedin.

CoreLogic Chief Property Economist Kelvin Davidson says investors could start to sell as mortgage rates rise -- shifting the power from sellers to buyers.

He says it's hard to define when it will happen, but at some point this year buyers will start to have more choice, and therefore more power.