Auckland house prices hold steady

It reported a $5000 lift on May's average, to reach $649,945 in June.

"This is less than a 1% increase on May's average price, and since March the average price has risen only by $4017," said managing director Peter Thompson.

He said the median had increased modestly to $590,000, $10,000 up from March.

"While house values are moving in a tight band at present, the number of properties on the market has shrunk to an all-time low. Demand for properties is unprecedented and competition is intense, with homes selling within a tighter timeframe than at any time in the last decade."

Barfoot and Thompson listed 1189 new properties in June and sold 1059.

At the end of the month it had 2873 properties on the books, the first time in 11 years that number dropped below 3000.