People selling homes are having to settle for less - as median house prices fall across the country

Prices in the capital are 25.6 percent below four years ago - and Auckland's more than 22 percent lower

Canterbury's only 4.1 percent down in comparison.

OneRoof's Editor Owen Vaughan says developers are putting properties on the market then quickly dropping prices when they realise the buyer appetite's missing.

He says there's been an overall price realignment - with prices climbing down but sales continue.