January house sales plunged to their lowest levels, excluding the first pandemic lockdown in 2020 when buyers and sellers came to a virtual standstill.
The latest REINZ data shows just 2,759 residential properties were sold nationally last month, down 27 per cent compared to the same time last year.
The number of residential property sales across the country declined month-on-month by 38.7 per cent, and 27 per cent year-on-year.
REINZ chief executive Jen Baird says the January sales slump was intensified by Auckland's poor weather. Just 943 properties in the city changed hands during the month, the lowest since records began.
‘In Auckland, property prices dropped to $940,000 in January’
Across the country Manawatu/ Whanganui, Northland, Waikato and Southland had the second lowest sales month since
