New Zealand’s biggest ever residential property auction in Manukau last week didn’t achieve as many sales as the organisers expected, however they intend to run a similar event next year.

New Zealand home-building approvals to a record low last month amid evidence of a prolonged recession which is driving up the jobless rate and eroding household incomes.

Mortgage rates are looking festive as they continue to register scores of reductions by lenders.

ANZ and The National Bank have made a range of cut-backs in lending rules including a requirement that new borrowers must finance 20% of their deals from their own resources.

Increasing financial pressures have seen a spike in the number of applications to the Tenancy Tribunal, mainly relating to unpaid rent.

Property affordability in New Zealand has improved though a quick rebound in the market isn’t anticipated, according to the ANZ Property Focus.

Competition in the home loan market has shifted back to the fixed rate terms with the Bank of New Zealand making major cuts to its fixed rates.

Rotorua is one of the country’s hottest tourist spot and is also a hot spot for investors looking for long-term rental gems, write Philip Macalister and Maddy Milicich. The market is starting to pick up and is looking particularly exciting in Rotorua and surrounding areas.

AcQuire Property has launched Residential Management, a full property management service, that is offering to manage properties at a flat rate of $899 a year.

The volume of New Zealand house sales had a record slump in the first half of 2008 as high interest rates and soaring household costs sapped demand for property, Infometrics said in a report prepared for QBE Lenders' Mortgage Insurance.

Real estate agency leaders are feeling positive about the future under the National-led Government.

Tactics and strategies for getting the best price in a stagnant market.

New Zealand’s median house price rose in October, suggesting the impact of the property downturn isn’t as deep as had been feared.

The October statistics are out now. To find out how your area is faring, use the links in the story below.

The average New Zealand house price fell 6.8% in October from a year earlier as the nation’s prolonged economic contraction sapped demand for property.

To find out what's happening in the main areas around the country, use the links in the story below.