After a tumultuous 18 months, the real estate market seems to be shaking off some of its malaise.

For the first time in 18 months, more people think NZ house prices will rise than those expecting a fall, says ASB Bank.

Auckland's biggest real estate firm says the average sale price rose $10,000 in July on the same month last year and look set to stabilise.

Defects at the huge Hobson Gardens apartment block in Auckland could cost up to $20 million to fix.