Auckland, Jan 1 NZPA – A drop in house prices for December and a decline in properties listed for sale, is good news for home buyers, a property website says.

Realestate.co.nz’s New Zealand property report said December listings hit an all-time low and asking prices continued to drop, easing as the market relaxed into summer.

There were 8924 new listings in December, a drop of 14 percent on December 2009 and the lowest number for four years.

The mean asking price for the new listings added in December also fell slightly from the previous month to $415,750, from $417,660.

Realestate.co.nz chief executive Alistair Helm said the low level of new listings would ease pressure on inventory of unsold houses, which have risen for six months in a row.

December was a traditionally a low listings month as vendors were keen to list before the Christmas season in October and November or leave it until January or later, Mr Helm said.

NZPA AKL is kk