National house price growth is continuing, with strong demand in the regions offsetting weaker prices in Auckland.
Photo: RNZ
The Real Estate Institute's House Price Index for June rose 2.8 percent on the year earlier, reflecting a 0.6 percent fall in Auckland, and a 9.2 percent gain elsewhere.
The national median house price rose almost 6 percent to $529,000 over the year earlier.
Excluding Auckland, the national median rose 11.5 percent from $387,000 to $431,000.
Auckland's median price increased to $850,500 from $830,000 the year before and the REINZ index showed prices decreased compared to the previous year by 0.6 percent, while the rest of the country rose 9.2 percent.
"Talk of a decline in prices may be premature with the seasonally adjusted median price trends still rising across many regions in New Zealand," said REINZ chief executive Bindi Norwell.
"The data also shows an emerging trend of section sales in Auckland occurring more quickly than dwelling sales, highlighting that demand for sections is still rising in Auckland while demand for dwellings is easing."
Price growth was strongest in Bay of Plenty, Manawatu/Whanganui and Tasman.
Overall sales volumes were down across the country - by one third in Auckland in the year to June, and by a quarter elsewhere.