PHOTO: JOHN BISSET/FAIRFAX NZ Real Estate Institute chief executive, Bindi Norwell says sellers need to adjust expectations.
Last month saw the lowest number of property sales for the month of April in five years.
There was an 11 per cent drop in property sales across the country, and a 16 per cent drop in the number of sales in Auckland.
New Zealand’s largest city is also facing a “Groundhog Day” situation, with Auckland’s median price remaining stuck at $850,000, Retail Institute of New Zealand’s Bindi Norwell said.
However, April figures show 6.4 per cent growth in New Zealand’s median house price.
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