You can still find a home in Auckland for half a million dollars - if you're willing to move to an apartment in the central city or a house in the south.

John Key said there are still plenty of homes being sold below the Government's affordable housing benchmark of $550,000.

MORE: Key standing by comments that housing is still affordable in NZ

Figures released to Newstalk ZB show Harcourts sold one home in Manurewa in the past week for less than $550,000.

Auckland issues reporter Michael Sergel says in the past five months, 15% of Barfoot and Thompson's Auckland sales have also been under the $550,000 mark.

"That was most common in the central city where about 61% of houses counted as affordable. About 33% of South Auckland homes counted as affordable."

The Finance Minister is placing the blame for first home buyers being locked out of the Auckland market on successive councils.

Bill English said their decisions over the years have led to the situation we have today, where Auckland homes are beyond the reach of many trying to get on the housing ladder.

"When you have planners and councils trying to contain growth then you'll get higher land prices, and that makes it very difficult for all lower and middle income households, but particularly first home buyers."