Barfoot and Thompson’s July sales report showed the average sale price for an Auckland Eastern suburbs home was $1.117 million in July, compared to $1.193m in July last year.
In the North Shore the average price was down from $1.3m to $1.06m. In South Auckland, it was down from $824,069 to $708,069.
What exactly this all means is up for debate.
Is China’s crackdown on money leaving the People’s Republic causing the crunch?
Are anti-money laundering laws finally working?
Have the Reserve Bank’s high deposit-for-investor rules knocked them out of the game?
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