New Zealand home values slipped 0.3% in September, extending the downturn to a sixth consecutive month as the housing market remains subdued, according to a Thursday report by Cotality.

The report said performance across the main centers was mixed, with Hamilton rising 0.4% and Christchurch gaining 0.2%, while Dunedin fell 0.1%, Tauranga 0.3%, Auckland 0.5% and Wellington 0.7%, the steepest decline of the group.

Auckland saw declines across all of its sub-markets, while values across the wider Wellington area also fell across the board, the report added.

Among smaller markets, Queenstown rose 0.6%, and Rotorua gained 0.1%, but many others fell by at least 0.6%, with Napier and Whanganui each down 1%, the report added.

Rotorua, Queenstown and Invercargill have been among the more resilient markets over the past 12 months, while Whanganui, Gisborne and Invercargill have each recorded average annual increases of about 8% over the past decade, Cotality added.

Cotality said improved affordability over recent years should help limit further falls in values, though current conditions are unlikely to support a sharp rebound in prices.