Talk Money: July 1
Higher prices and falling returns for investors appear to be driving people out of the Auckland property market.
Property website realestate.co.nz says the average Auckland asking price rose to an all-time high of $888,493 last month.
But searches for Auckland houses 'for sale' dropped 19.33 percent compared to a year ago.
There was a significant rise in searches for Northland, Hamilton, Tauranga and Queenstown.
The average rental yield in Auckland has dropped to 3.18 percent compared to the national average of 3.96 percent. Otago has highest yield at 7.32 percent.