The average sale price for June was $525,316, down 1.7 percent on May, the company said.
There were 556 transactions during the month, an improvement on the 453 and 515 sales recorded in April and May respectively, but well behind the 1,000 sales recorded in June last year.

Barfoot and Thompson Managing Director Peter Thompson said the June result was in line with expectations.
"June is always one of the slowest months in real estate so it's good to see the overall volume of sales has increased over the past two months."

Mr Thompson said there was a clear pattern emerging where vendors were hesitant to list their properties for sale unless they had to.

"We recorded 1,214 new listings in June, which is the lowest figure this year to date. Our stock on hand position at the close of the month reflects this with 7,122 listings on our books, down from a 2008 high of 7,483 in April."

"Some vendors are still reluctant to meet the market in terms of price expectations but that's probably just an issue of time. Vendors who need to sell within a reasonable time-frame need to be realistic about what the market will bear at this time," he said.