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Auckland's new-home completions jumped 44% in July to their highest level in two years, an early sign that the region's residential construction slump may be bottoming out.

Recent figures show that total residential sales over the past 12 months have fallen to 89,043, down 3.2% from the level recorded late last year.

National median price movements make for a nice headline, but they hide enormous variation underneath. Two suburbs in the same city, sometimes ten minutes apart, can post very different long-term growth records depending on land supply, proximity to amenities, school zones, and simple long-term demand.

Over the past 12 months, New Zealand has seen a net gain of just over 20,000 people - more than double the level from the year prior.

"How much equity do I have?" is one of the first questions every property investor asks. Sarah and Michael thought their answer was $510,000. They were $184,000 off the mark.

"Soft market" is one of those phrases that gets used constantly and defined rarely.

When there are more properties available and fewer buyers competing for them, purchasers have greater ability to take their time, negotiate on price and be selective about what they buy.

Profitable property resales in New Zealand are now held for a median of 10.4 years. Loss-making resales are held for just 4.3 years.

First-home buyers now make up more than 28% of all property purchases in New Zealand