Property listings continue to increase as sales slump nationwide

The Real Estate Institute reported just 4356 residential sales in June - down 25.6 percent compared to last year.

Listings increased by 25.5 percent year-on-year - with Wellington experiencing a 50.3 percent jump.

Chief executive Jen Baird says the rise in new listings continues a trend seen throughout the year.

She says the total number of properties up for sale is rising, as fewer are being sold.