The Auckland property market appears to be "turning" after seven years of constant price rises, says the city's biggest real estate agency. "Both the average sales price and the median price in November were down on those for October," he said. "The average sales price in November at $933,130 was down 1.1 per cent on October's and only 1.1 percent higher than the average price for the previous three months. "The median price at $850,000 was down 1.7 per cent on October's and down 0.6 per cent on the median price for the previous three months," Thompson said. Last month was the first time in eight years where November's average and median prices were below those in October.

Source: New Zealand Herald December 04, 2016 21:10 UTC