The Hawke's Bay market is holding its breath, with restrictions on low-deposit mortgage lending starting to bite.
Napier and Hastings sales volumes declined in September, down 13.5 per cent and 7.2 per cent respectively during "a preferred time of year to sell property" a My Valuer report said.
Seller hesitation resulted in fewer houses for sale, which may lift prices.
Napier
The Napier median sale price is down 6.3 per cent this year to the end of September, with a large number of lower-priced sales to first home buyers before low-deposit mortgage restrictions took effect.