The housing market is slower than ever before.
The Real Estate Institute of New Zealand's monthly report shows the median price for residential property - excluding sections - decreased 10.9 percent annually to $780,000 in April this year.
The Real Estate Institute's chief executive Jen Baird says inflation, changing interest rates and the upcoming election are key factors in the low activity.
Houses in NZ Photo: RNZ / Angus Dreaver
She spoke to Ingrid Hipkiss.
