August brought a slump in the house prices since the number of properties being listed kept its snail-like impetus at a steady level.

Barfoot and Thompson, the region’s biggest real estate group, offered the most recent figures, according to which the standard sales prices of $510,978 came to a 4.4% fall from the month of July and of August in the previous year, it slumped by 4%.

The firm sold out around 637 properties, which is seven less in comparison with the number that had been seen in July. In June, 28 extra houses had been sold.

Peter Thompson, the Managing Director of the Company, said that sales level continued to be at a stagnant position near the 650 range for three months term.

Thompson said that the count of new listings, which is 1,086 in August, hit the lowermost in 7 months.

Initially in the month, Barffot and Thompson had 5,626 properties to be sold out, which recorded the lowermost figure for 7 months time period.

August did show strong setting in rental sector where the standard weekly rent attained was $406, which is down by $2 for one week on the standard basis for July. However, it is up by $28 on that number for last year’s similar month set up.