Listings had been low over the winter months, especially as most people waited for spring to put their properties on the market, Mr Joblin said.
"Sales usually pick up in the springtime ... but there's a little bit of an imbalance there because of the [Reserve Bank] announcement."
National house prices continue to rise as pending limits on low equity home loans put pressure on the market.
But the number of houses being sold appears to be slowing.
According to latest REINZ figures, the national median sale price rose $5000 to $390,000 in August, up 5.5 per cent from the same month in 2012.
"Agents report across the country that potential sellers are taking a 'wait and see' attitude in terms of rising prices and what effect the Reserve Bank's new lending policy will have on the market," REINZ chief executive Helen O'Sullivan said.
The number of houses sold last month fell 3.4 per cent from July, but was up 8.5 per cent from August 2012.
Last month, Reserve Bank Governor Graeme Wheeler announced restrictions on high loan-to-value ratio mortgage lending - essentially loans with deposits of under a fifth of a property's value. The restrictions come into effect next month.
And last week he signalled that interest rates would start to rise next year, adding more cost to homeowners' mortgage repayments.
"The Reserve Bank does not want to see financial or price stability compromised by continued high house price inflation," Mr Wheeler said. APNZ
