It's been a slow month in the real estate market, with the national median house price up just 1%.

5,500 homes were sold nationwide last month, down 7% compared to July.

And that number was 16.3% less than last August.

But in Otago the average house price is up $18,000 - 7.7% - on last August.

And in Dunedin there's been a 12% increase on this time last year.