The Real Estate Institute of New Zealand (REINZ) says the national median selling price for homes sold in July was $416,000, down 2.6% on June's median, but still up 8.1% on the median price in July last year.
But the reverse was true for the number of homes sold, with 5893 sales in July, which was up 2.3% on the number of sales in July but down 13% on July last year.
Nationally the number of days required to sell a property declined from 39 in June to 37 in July. In July last year it was 35.
REINZ chief executive Helen O'Sullivan said the market was firmly in winter mode, with a limited number of new listings and activity muted across the country.
"Sales volumes picked up a little in July compared to last month but this is about in line with the normal seasonal pattern," she said.
"Rising interest rates and the forthcoming election are probably also influencing buyer behaviour."
Selling prices in July were down compared to June in most parts of the country, with Auckland, Taranaki, Otago and Southland bucking the trend and showing price gains in July.
In the overheated Auckland region the median price was $610,000, up $10,000 on June.
All parts of the region showed price gains except for the North Shore, where the median dropped from $747,000 in June to $714,000 in July.
The biggest gains were made in the central suburbs that comprise the former Auckland City Council area, where the median price increased from $655,750 in June to $692,000 in July.
The median price in the Auckland region has now increased by 10.5% over the last year.
However the number of homes sold in the Auckland region declined to 2240 in July, down 3.8% on June and down a whopping 18.7% compared with July last year.
In Wellington the median price was $380,000, down 1.3% compared with June.
Prices throughout the region were mixed, with areas such as Lower Hutt posting a 12.3% decline for the month while the median price in Pukerua Bay/Tawa was up 14%.
The number of sales was up, with 621 homes selling in July, up 10.3% compared with June and 1.3% compared with July last year.
In Christchurch the median price was $407,250, a decline of 5.4% from June's median of $430,000.
However the volume of properties sold in Christchurch was up 8.1% compared with June and up 4.4% compared with July last year.
July's median selling prices in the main centres, with percentage changes since June and since July 2013:
| Whangarei | 266,500 | -7.9 | -4.8 |
| Rodney | 590,000 | 1.7 | 11.3 |
| North Shore | 714,000 | -4.4 | -1.3 |
| Waitakere | 550,000 | 4.7 | 14.1 |
| Former Auckland City Council area | 692,000 | 5.5 | 16.8 |
| Manukau | 570,000 | 1.8 | 5.9 |
| Hamilton | 350,000 | -1.1 | 1.4 |
| Tauranga | 360,000 | -11.1 | 14.3 |
| Rotorua | 250,000 | 6.4 | -1.8 |
| Taupo | 345,000 | 3.8 | -6.1 |
| Gisborne | 250,000 | 7.1 | 26.9 |
| Napier | 313,000 | -3.7 | 6.1 |
| Hastings | 263,000 | -2.5 | 5.2 |
| New Plymouth | 332,500 | -3.9 | 3.1 |
| Palmerston North | 282,000 | 4.3 | -1.1 |
| Levin | 185,000 | 5.7 | 19.4 |
| Wanganui | 147,500 | -2.3 | -22.4 |
| Upper Hutt | 324,250 | 6.3 | -1.7 |
| Hutt Valley | 315,750 | -12.3 | -0.6 |
| Northern Wellington | 427,000 | -7.0 | -7.4 |
| Central Wellington | 410,000 | -9.3 | 5.1 |
| Eastern Wellington | 560,000 | 9.8 | 17.9 |
| Western Wellington | 550,000 | -4.3 | -11.4 |
| Southern Wellington | 497,500 | 7.2 | -10.1 |
| Pukerua Bay/Tawa | 411,685 | 14.0 | 3.1 |
| Nelson | 360,725 | -3.9 | 4.3 |
| Christchurch | 407,250 | -5.3 | 5.8 |
| West Coast | 230,000 | 27.8 | 17.9 |
| Timaru | 297,500 | 4.8 | 10.8 |
| Queenstown | 595,000 | -7.8 | 13.3 |
| Dunedin | 269,500 | 3.7 | -3.8 |
| Invercargill | 197,000 | 15.0 | 4.9 |
We welcome your comments below. If you are not already registered, please register to comment
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.