Auckland house prices ease but rents rising

“No doubt softening under the pressure of rising interest rates, the market recorded a 10% year-on-year increase in the median sales price (down from 17% in April),” the Crockers report says.

The median price now sits at $445,000.

Sales numbers were also down, with an 8% year-on-year decline, in contrast to increasing sales in previous months.

Sales figures for the whole country show a similar pattern: a small drop in the median price in June (down to $347,500, which is still up 12% year-on-year), and an 11% decline in the number of sales compared to June 2006.