Dunedin is leading the country's main centres when it comes to growth in property value over the past three-months

The latest QV House Price Index shows the Otago city has a quarterly value growth of 8.4 percent.

QV general manager, David Nagel, says the New Year has shown a strong start to the property market - with the average value nationally increasing 4.4 percent year on year.

He says Dunedin's annual value growth is 20.8 percent, followed by the Wellington region at nine-percent.

Christchurch has grown 2.1 percent in the past quarter, with Auckland City growing 1.7 percent.