Wanganui property values have dipped again, as home owners brace for another possible interest rates hike next week.
Figures released on Friday by state valuer Quotable Value show Wanganui recorded a 5.3 per cent drop in the year to May to an average value of $181,293.
Local values remain 19.1 per cent below their 2007 market peak.
Agent Ross Watson, of Watson Realty Wanganui, said the figures were a "fair reflection" of the Wanganui market.
Reserve Bank lending restrictions, which placed a 10 per cent cap on bank lending to those with less than 20 per cent deposit, were still taking first home buyers out of the market, he said.