Fewer houses are selling and it's taking longer to sell them, data from the Real Estate Institute of New Zealand shows.
The number of residential properties sold across New Zealand fell to 5,978 in June, down 3.8 per cent from the 6,213 sold a year earlier, REINZ said.
Excluding Auckland, the number of properties fell 4 per cent to 4,159. The June sales were the lowest for a June month in five years.
Hawke's Bay saw 287 houses sold, down 26.8 per cent from a year ago, while Taranaki saw 139 homes sold, down 34.9 per cent.
REINZ chief executive Bindi Norwell also said that new listings were down 7.3 per cent on the year.