Some signs of momentum in the property market heading into spring

The latest Real Estate Institute figures show a 14.5 percent rise in properties sales in July compared to last year - but median house prices fell 2.2 percent.

OneRoof editor Owen Vaughan says the past three months have been pretty brutal especially in higher value areas like Wellington and Auckland - mostly due to interest rates.

He says it seems we're getting through the worst of it.

He says there will likely still be some fluctuation but most buyers and vendors can see it's a bit of a turning point for the market.