The Kiwi dollar extended its slide as the crash of a Malaysian jet in rebel-held Ukraine and a ground offensive in Gaza sapped risk appetite worldwide.

House sales fell in June from a year earlier, led by properties of $400k or less, indicating the LVR restrictions are curbing demand at the cheaper end of the market.

New Zealand's dollar is the most overstretched in three years, trading patterns suggest, putting in jeopardy its chances of surpassing a record high.

The New Zealand dollar touched a 13-month high against the euro overnight.

The Reserve Bank has revised up its estimate of the economy's potential or non-inflationary growth rate next year, but it is still shy of the levels prevailing between the mid-90s and mid-2000s.

A perfect storm of interest rate hikes, lending restrictions and inclement weather is being blamed for a slump in house sales.

Auckland house sales data for June is out, showing a slight decline in sales volumes but average sale prices up $11,088 - that's a daily price rise of $369.60.