House prices down in April

The property market hit a soft patch in April with the number of sales and the national median price falling, according to data from the Real Estate Institute of New Zealand.

REINZ members sold 8876 houses during the month, down 15 per cent on March, and down 7.5 per cent on the same month a year ago.

The median price fell 3 per cent to $272,000.

Auckland reported a 20 per cent fall in sales in March and 8.7 per cent on a year ago.