Wellington house prices rose in February, but the rates were lower compared to figures for the same month in 2011, New Zealand Herald reports.

February house prices in Wellington jumped 0.8 per cent higher from January to $388,000, but the amount fell 5 per cent from February last year.

Despite the increase, house sales nationwide were 37 per cent higher making it a very good month for the residential property market and the best February since 2008.

In contrast to January sales, house sales also rose by 50 per cent.

There were 1,666 more houses sold last month than at the same time last year, but the median house price of $355,000 has been unchanged since November 2011, but $5,000 higher nationwide from February last year, according to the latest Real Estate Institute of New Zealand.

Real Estate Institute of New Zealand chief executive Helen O'Sullivan told the Herald the real estate market last month built on the strong sales volume results from December and January.

"While agents are seeing more activity and more positive sentiment from buyers in most places this is not translating into significant price increases," Ms O'Sullivan said.

"Agents in a number of areas continue to report listing shortages. Despite the increased number of transactions, buyers are remaining cautious with the days to sell measure down by just one day, and still above the long term average."