House prices stand still while sales numbers fall

However, latest Crockers research shows the number of properties sold was significantly down – in fact, this is the lowest July figure for five years.

The July median is 14% up on July 2006, while year-on-year sales numbers have declined by 11%.

Nationally, the median price fell slightly from June to July, and total sales were down 14% compared to July 2006.

Auckland rental levels are stabilising at slightly higher levels in the past few months, particularly for three-bedroom properties. Their average weekly rent in July was $420, up 7% from $395 in July 2006.