"It is just a fair buy and a fair sell. At the moment, we aren't seeing a big trend upwards [in property values] but the soft spots in the market are gone.
"The big factor that will determine where the market goes from here is the first home buyers' market. If the Government can do more in that area, which they will do by April 1, first home buyers will have more money on hand to be able to put down a deposit towards their first home," he said. "How much momentum gathers in this area will determine the strength of the market going forward."
Mr Whitaker said the market was already improving and more houses were selling at market value.
"At the moment there are less 'good buys', as in, more properties are selling for their true value now. Just a year ago there were people who had to get out of Hawke's Bay and were selling their properties below market value.
"We are optimistic that there is no looking back and there might be, instead of a quick transition into a boom, it might be a long drawn out, slow increase. But changes in the first home buyer market are promising," he said.
Tremains Real Estate director and co-owner Simon Tremain described the QV statistics as "pretty static".
"Our market has been pretty neutral up to December last year."
However, his company had its best month in nine years in February this year.
He said interest rates, such as a 10-year rate released by TSB Bank four weeks ago, were giving first home buyers "massive confidence".
The first home buyer Government grants expected on April 1 also represented increasing incentives to get on the property ladder.
"We've got a good mix of buyers from around New Zealand. We've got people speculating and we've got those first home buyers - that's what is driving the market."
Nationwide, residential property values for February 2015 increased 6.4 per cent over the past year and 3.1 per cent over the three months to February.
QV national spokeswoman Andrea Rush said more couples were choosing to build rather than buy because it was easier to borrow money for a new build.
"The new build market across the country is in high demand, particularly amongst first home buyers, as the LVR requirement for a 20 per cent deposit does not apply to 'turn key' home and land packages, making it easier to secure finance to a buy a new build than an existing home," she said.
"The listings shortage appears to have eased a little as more homes have come onto the market during February, however sales and mortgage approvals are also up since January."
Residential property values picked up in most provincial centres but declined in Southland, the West Coast and in a few parts of the North Island.
According to QV, areas close to Auckland had values rise faster than other provincial areas which was most likely due to the 'Auckland effect' as buyers looked outside the city for more affordable property. NZME.
