The Wairarapa first home buyer market has almost "dried up", says a Masterton agent.
New house sale figures released recently by the Real Estate Institute of New Zealand show March sales were down in the Wellington region, which includes Wairarapa.
Sales dropped to 753, down 9.5 per cent from 832 a year ago, while the median price rose 1.4 per cent from $394,500 to $400,000.
REINZ chief executive Helen O'Sullivan said there were "clear signs" the national number of sales had eased since November, following the introduction of Reserve Bank home loan lending restrictions in October which restricted lending for those with a deposit of less than 20 per cent.
National median prices soared 10 per cent in March to a record high of $440,000, while the number of houses sold fell to 7315 from 8128.