Auckland drives price slump
Across the country, the median house price dropped by $4,000, or 0.5 per cent year-on-year to $761,000. However, when Auckland is taken out of the equation the median price rose by 1.5 per cent year-on-year to $690,000.
Compared to last year, 13 out of 16 regions had an increase. The most significant year-on-year increases were in Gisborne, up 11.3 per cent from $620,000 to $690,000, Southland, up 8.9 per cent from $427,000 to $465,000, and the West Coast, up 7.8 per cent from $357,000 to $385,000.
Sales across the country stalled in August, with sales declining year-on-year and month-on-month for both New Zealand - down 3.7 per cent and 11.1 per cent respectively - to 5,866 sales, and New Zealand, excluding Auckland down 1.3 per cent…