[KiwiHopeful]

The small decrease in 'average sale price' is more than made up for rising interest rates:

NZ money markest continue climb | BUSINESS | NEWS | tvnz.co.nz

NZ rates going higher
Feb 21, 2008 11:57 AM

New Zealand money markets continued the upward climb on Wednesday, as credit becomes harder to secure through lack of liquidity.

For investors the news was great as the 90 day rate rose to 8.75%, well above the cash rate. Long term bonds rose another two points.

But for borrowers it was not so great.

Swap rates came back a few points at both ends of the curve, but with a one year swap rate of 8.86% and a 10 year swap rate of 7.81%, there are fewer options for highly leveraged operations.

Such high rates at both ends of the curve are just another signal that high interest rates will be with us for a while longer.

You can find the current rates here: Mortgage interest rates in New Zealand

Play with some of those numbers and you'll find yourself pretty depressed ...
Mortgage repayment calculator | Sorted