Real house prices will fall 30% back to pre-pandemic levels, erasing any recent gains, say Westpac economists.

The housing market slowdown continues with sales down 4.3% on September and a massive 34.7% down compared to October last year.

Almost a third (30%) of surveyed residential property investors and owners are not confident their property is adequately insured.

Average house prices across the country have fallen nearly $113,000 since the beginning of the year, while in Auckland and Wellington it is almost $200,000.

While property prices keep slumping, the question is being asked whether the Government should boost the number of foreigners allowed to buy property in New Zealand.

Mortgaged property investors have plunged into the new build market — with the highest number of purchases since 2004.

Auckland’s biggest real estate agency, Barfoot & Thompson, saw last month’s sales slump to the worst for 12 years in an October month.

While the Reserve Bank is forecasting housing market doom and negative equity for some recent buyers, it is far from that with prudent decisions taken by banks a year ago.

Reserve bank stress testing indicates river and surface water flooding may pose an even greater risk to property owners and banks mortgage portfolios than coastal flooding.

Medium density developments are pushing consents higher. Building consents across the country rose by 3.8% In September for a total of 50,700 consents over the past year.

Landlords and tenants can get confused about digital facilities in a rental, which can cause unwanted friction.

The country’s biggest bank now expects house prices to fall at least 18% from peak to trough – up 3% from its previous prediction of 15%.

Wellington is in the leading pack as one of  the top five sustainably led cities for real estate in Asia Pacific.

Auckland’s median weekly rent for residential property has not moved in six months, while the number of  rentals has skyrocketed.

Wholesale property investment companies have been warned by the FMA over their marketing and whether wholesale investors are genuine.

The Property Investors’ Federation has laid out the costs of different kinds of rentals.