PHOTO: CHRIS GORMAN/STUFF Newmarket had the biggest year-on-year drop in values.

If you’re in the market for a house in Auckland, you may be able to snap up a bargain.

New data shows the city’s house values falling up to about 7 per cent year-on-year – and in some of the city’s more sought-after areas. shows Newmarket prices fell 7.4 per cent from 2018 to January 2019 to a median $657,000.

Chief data scientist Tom Lintern said that was probably due to new developments in the area changing the composition of the housing stock. “New cheaper apartments will drop the median value significantly.”