The Real Estate Institute has confirmed house sales hit an 18-year low in January.
Sales fell 26% to about 3500 during the month, compared to December.
The institute says said the number of houses sold was the lowest since it began its current records series in 1992.
The national median house price stood at $350,000 - an increase of 8% on January last year.
The REINZ's house price index fell 1.6% on the previous month - 7% higher than a year earlier.
