According to the Real Estate Institute, the sales of new houses in New Zealand rose at its slowest pace in more than a year mainly due to limited number of listings.

The prices of houses in the country touched record high due to the limited supply of houses. The total housing sales grew 8 percent to 5,653 during September, according to the figures released by the institute. The rate of growth in August was about double that in September.

The prices of houses rose 0.6 percent from August and 5 percent from the same month in the previous year, the Auckland-based institute said on its website. It also said that the sales from August to September fell, however people usually prefer to sell their houses around spring season, which starts during the month in the southern hemisphere country.

Real Estate Institute Chief Executive Officer Helen O'Sullivan said, "The traditional rush of spring listings has not eventuated this year and the market is tightening as buyers face a limited choice."

The institute also said that the average time to sell a house in the country fell from 35 days in August to 33 days in September.