Auckland's housing market is continuing to break records with the latest median sale price now at $640,000.
The Real Estate Institute has released its summary of how the market performed last month.
The new Auckland median is up $3500 on the previous record, which was set in March.
The institute's chief executive, Helen O'Sullivan, said nationally 6600 homes were sold in October, up 11 percent on September but still down 2 percent compared with October 2013.
The Reserve Bank is not about to lift restrictions on home lending as it is worried an unexpected surge in immigration could fuel house price inflation. Audio
Auckland home-owners are already wanting to renegotiate loans or borrow more following the release of Auckland Council's new property values, a mortgage broker says. Audio
Analysts are picking restrictions on low-deposit mortgages to be lifted within weeks, but real estate agents warn it could again take the brakes off Auckland's housing market.
ASB Bank's mortgage lending grew by nearly $300 million in the three months ended September, but its lending to those with less than a 20 percent deposit has shrunk dramatically.
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