MIDWINTER DIP FOR RESIDENTIAL SALES

Residential property sales across the country took a steep dive in June.

Sales dropped annually by 38.1 per cent from 7,629 in June last year to 4,721 as listings increased 89.5 per cent from 13,861 in June last year to 26,271. The sales count across the country, excluding Auckland, declined 35 per cent annually from 4,776 to 3,103 Only the West Coast, with +31 per cent had a month-on-month increase.

Those with the greatest annual drop were:

• Auckland, down 43.3 per cent annually from 2,853 to 1,618
• Bay of Plenty, down 41.3 per cent annually from 458 to 269
• Gisborne, down 39.5 per cent annually from 43 to 26
• Taranaki, down 39.4 per cent annually from 198 to 120.

Despite the sales slump the median price for houses increased 4.2 per cent annually last month, from $816,000 in June last year to $850,000. They were only up $10,000 from May ($840,000 to $850,000).

The median residential property price for New Zealand, excluding Auckland, increased 9 per cent