Auckland property sales numbers fell to their lowest level in an April since the 2008 global financial crisis last month, but lower turnover had a limited impact on sales values.
"Sales numbers in April were down by about a third compared with the average for the previous three months, yet given this significant fall the average and median prices held steady," said Peter Thompson, Managing Director of Barfoot & Thompson.
"The median sales price at $850,000 for the month was down only $5,500 on the average median price for the previous three months.
"The same trend was there around the average price, which at $917,079 was down only $25,000 on the average for the previous three months.
"While prices have declined from March's all-time record highs, the fall relative to the average for the first quarter of this year is modest, and on a year-on-year basis the median price is up 3.7 percent and the average price is up 5 percent.