Home sales around the country during June remained at the same level as a year ago, but with national median prices edging up towards record prices set in March.
Results from Canterbury and Auckland continue to dominate Real Estate Institute of New Zealand data and accounting for more than 99% of the $22,000 rise in the national median June price from a year ago. The median rose from $392,000 in May to $394,000 during June.
REINZ director Bryan Thomson said house price strength in Auckland and Canterbury was being driven by a rising imbalance between supply and demand, as the number of properties coming on to the market fell ''well short'' of the housing demand.
While the Central Otago Lakes regions had a median price decline, from $465,000 a year ago to $410,00, Queenstown as a sub-region saw its prices rise from $500,000 a year ago, to $517,500, but well down on May's $568,250.
There were 6135 unconditional national residential sales in June, the same as June a year ago, but representing a 20.5% decline compared with May sales.
Mr Thomson said Auckland and Canterbury price levels were having an ''increasingly significant impact'' on the national figures, with Canterbury and Auckland respectively recording the largest, 12.3%, and second largest median price increase, 11%, compared with a year ago.
''Price gains in most other regions have been minimal, with the median price for the rest of New Zealand $2300 lower than November 2007,'' he said in a statement.
Otago's overall median price was up 5.6%, from $232,000 a year ago to $245,000, while Dunedin's rose 7%, from $249,5000 to $266,875.
