Sales of properties nationwide dropped by 4.4% in October compared to the previous month, with 228 fewer houses sold.
Sales traditionally surge at the beginning of spring, but the figures suggest any movement was muted, Real Estate Institute boss Helen O’Sullivan said.
”So too has any impact from the Rugby World Cup and European uncertainty,” she said.
The good news was that the volume of sales was up strongly – 28.3 per cent – to 5007 unconditional sales in October over the same time last year.
But O’Sullivan said that in part reflected a weak October 2010 when sales volumes hit their lowest mark in 20 years.
Nationally, the average median house price was up $9,000 last month from October 2010.
Of the properties sold last month, 167 went for more than a $1 million.
The majority, at 58.6%, were sold for under $400,000. Some 26.1% were in the $400,000 to $599,999 bracket, with the remainder priced between $600,000 and $999,999.
Prices were up 1.6% in Wellington in October from September, while prices in Auckland pulled back 0.3% in the same period.
Christchurch property prices were down 3% last month compared to September.