Last year is being described as "the year of correction" for the property market.
The total value of residential property listed last year was down by $28.6 billion dollars on the previous year, according to realestate.co.nz.
The trend wasn't uniform across the country though, as Christchurch and Queenstown showed growth.
Realestate.co.nz chief executive Sarah Wood spoke to Ingrid Hipkiss.
