Covid-19 has turned New Zealand's housing market upside down

Although the lockdown put the brakes on all buying and selling for four and a half weeks, buyers are still curious.

One Roof editor Owen Vaughan says employment will be a key figure in determining where house prices land in the months ahead.

He says Wellington's market is expected to perform - because of the high public sector presence.

And Vaughan says Auckland's housing market won't see huge price swings - because it isn't fully dependent on tourism or other at risk sectors.

But he expects regional housing markets in the regions will experience a slow down and falls in value.