House prices nationally at highest for more than a year while Auckland market dips slightly

TradeMe says the average asking price for a house has risen slightly nationwide to a record high since April last year.

The price is up 0.8 per cent to $645,900 nationally, but in Auckland the price has fallen very slightly, dopping $350 to $918,650.

Six regions recorded record high asking prices in May, including Hawke's Bay, Marlborough, Taranaki, Wellington, Northland and Bay of Plenty.

Property prices in Wellington climbed 3.2 per cent in May from April, up a total of ten per cent since last year to $589,600.

TradeMe Head of Property Nigel Jeffries said Auckland's market is finally settling down.

"Auckland's growth has been dramatic and well-documented but that growth has finally died down and we're seeing a more normal market with dips and fluctuation," he said.

"The key ingredient in any market growing like Auckland has been is a mismatch between supply and demand ... demand is dipping which means the Auckland market is finally slowing."