A residential real estate market in nationwide freefall has shed 1636 employees in six months, reports the Christchurch Press.

Recently released figures from the Real Estate Institute of New Zealand (Reinz) show the number of real estate agents, salespeople, licensees and branch managers in Canterbury-Westland fell 8 per cent in the six months to July.

Nationally, the 19,059 people working in the industry in December 2007 fell to 17,453 at the end of June. They shared 4373 sales across the country in May.

The 2201 people left working in the Canterbury-Westland district shared 619 sales in May less than half of the 1276 sold in May 2007.

Christchurch realtor Diane Astle said people were leaving the industry every day.

"They're just saying it's a tough market now, and they've got families," she said.

The slumping market has some agents screaming for interest-rate relief from Reserve Bank Governor Alan Bollard.

Reinz president Murray Cleland said high interest rates had achieved the housing cool-down Bollard wanted.

"I'm not a financier but I often wonder why we don't let markets find their own level. If they wanted to slow the property market down, they certainly achieved it," Cleland said.

Christchurch real estate agent Chris Lewis said there was no need to panic.

He had just set up a new office in Ilam and said agents simply had to work harder for sales.

"Even though a lot have left we're still selling houses every month and someone has to sell them. There are still daily opportunities out there for all of us," he said.

It was pointless to complain about interest rates, Lewis said.

"Those who are putting the blame on the Government or the blame on their boss aren't taking responsibility for their own actions," Lewis said. "It's truly back to basics, back to good old-fashioned service."