The number of new houses listed on the market dropped further in January, failing to keep up with a rise in sales.
Figures from realestate.co.nz show 8542 new listings came on to the market in January.
realestate.co.nz chief executive Alistair Helm says this is down by 2% from December.
He says the market remains fairly tight, particularly in the major cities where it's definitely a sellers market with good demand and in places a significant shortage of listings.
Mr Helm says he expects new listings to pick up in the next two months.
He says housing sales were up by 22% in the last three months.
