House sales in the Bay of Plenty fell 18 per cent this month with only Mount Maunganui and Papamoa seeing a slight increase in sales, according to figures just released.

Figures released by REINZ show a total of 99 houses were sold in the Mount and Papamoa in April 2014 – up 4.2 per cent from the 95 sold in April 2013.

In Tauranga sales dropped 16.2 per cent on last year with a total of 114 sold in April 2013 compared to 136 in the same month in 2013. It was a 10.2 per cent fall on March's 127 sold.

Compared to March sales volumes fell 19 per cent across the region, including Papamoa and the Mount, which recorded a 2 per cent fall on March when 101 properties were sold.

The Waikato-Bay of Plenty was one of only eight regions to record an increase in the median house price for the month of April. It contributed to 13 per cent of the increase in the national median increase of $41,750, or 10.7, per cent between April 2013 and April 2014.

Compared to April last year the median price in the region rose by 10.5 per cent from $315,000 in April 2013 to $348,000 this month. It was down $1000 from March's $349,000.

In Tauranga alone the median house price rose 9.9 per cent on last year from $327,500 in 2013 to $360,064, but fell 13.7 per cent on last month's $388,000.

Mount and Papamoa's median price is the same as last month's $450,000 – up 2 per cent on April 2013's $440,000.

Prices increased the most in Taupo, Hamilton and Gisborne. Compared to March the median price fell by $1000 with Waikato Country and Tauranga seeing the largest falls, but with Eastern BOP Country and Gisborne seeing double digit increases.

The national median house price was $432,250 – up $41,750 compared to April 2013, but down $7750 from March.

Nationally the number of sales was down 20.2 per cent on last April and 22.5 per cent on March with a total of 5670 properties sold in April.

REINZ Chief Executive Helen O'Sullivan says the fall in sales volumes in April has impacted all regions, as well as Auckland and Christchurch where much of the price pressure has been in recent times.

'The fall in April compared to March 2014 and April 2013 deepens the underlying trend for easing sales volumes.

'April is generally a softer month for real estate sales coming off the back of a generally strong March and with the added complications of school holidays and Easter.

'However, these factors cannot explain the entire drop between April this year and April last year – the volume of sales has retreated to 2012 levels, and is the seventh lowest April volume recorded by REINZ.”

Helen says the number of sales in the sub-$400,000 category continue to fall faster than the market overall.

'This suggests the LVR restrictions are continuing to have an impact on buyer intentions at the lower price points.

'The lift in the Official Cash Rate by 0.5 per cent over the past two months is likely to have also had an effect. At the same time there is increasing activity in the $1 million plus category, not only in Auckland but in a number of other centres as well.”

The number of sales below $400,000 fell by 31.6 per cent, following a fall in sales below $400,000 of 21.9 per cent between March 2013 and March 2014.

'This may be indicative of fewer sales in the lower price brackets since the imposition of the LVR restrictions.”

Dwellings took one day fewer to sell in April compared to March at 34 days. Compared to April 2013, the median number of days to sell was steady at 34 days.

Across New Zealand the total value of residential sales, including sections was $3.09 billion in April, compared to $4.07 billion in March, and $3.50 billion in April 2013. For the 12 months ended April the total value of residential sales was $39.78 billion.