The lowest monthly number of Wanaka properties in the past five years were sold this July.

Another easing in the number of properties sold was shown in July with a total of 26 houses and seven sections sold in the Wanaka area.

This total - 33 - was the lowest number seen in the month of July over the past five years, First National Wanaka principal Lynette Winsloe said.

"This number is mainly influenced by the amount of new listings coming to the market, combined with the reduced number of investors suffering from the lending restrictions imposed by the banks.

"There is talk of general uncertainty with the forthcoming election, but hard to pin any of the blame on this upcoming event.

However, Lynette said, what is not accounted for in this figure is the number of untitled sections being being sold in and around Wanaka.

"We don’t see the evidence of these sales until the sections are finally titled and this can be up to a year away. Perhaps even more.”

Lynette said even though there were only 33 sales in July, there has been good activity amongst buyers, including a good number of sales that haven’t been reported yet.

PHOTO: Wanaka App