The housing market continues to bounce along the bottom, with March sales at a 12-year low. Last month's sales were also the lowest recorded for the month of March since 2011 (see first graph below). It is now down by 16.8% from its November 2021 peak. The national median selling price was $775,000 in March, down by $150,000 from its November 2021 peak, with even bigger price declines in Auckland and Wellington. In the Wellington region the median selling price was $750,000 in March, down by $250,000 from its October 2021 peak of $1 million.

Source: Stuff April 18, 2023 12:20 UTC