Average selling prices in Auckland and Christchurch dropped in October, according to the country's largest real estate agency.
Provisional figures released by Harcourts for the country's two largest property markets show the average selling price of homes it sold in Auckland/Northland was $666,740 in October, compared with $683,101 in September.
However October's price was still up 3% on the average selling price in October last year.
In Christchurch the average selling price was $485,625 compared with $496,161 in September and $478,614 in October last year.
Spring weather had resulted in a lift in sales and the number of homes the company had on its books in Auckland/Northland was up 15% on the same period last year.
However supply was still not keeping up with demand in the region, the company said.
In Christchurch, Harcourts sold 442 homes in October compared with 404 in September and 412 in October last year.
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