New Zealand continues to record high housing prices and has been linked to a record low number of properties for sale, RNZ reports. According to the Real Estate Institute of New Zealand (REINZ), the total number of properties for sale in the country has decreased to almost 30 percent in December, compared to the same time period in 2018. The housing shortage is the main reason for skyrocketing house prices. Meanwhile, Auckland is still the most expensive place to buy in New Zealand, with a new record median house price of $1.28 million.