Among the 12 residential real estate districts seven saw their medians increase and five experienced further falls.

The residential real estate market suffered a further slump in sales in April, although some districts median prices recovered, according to the Real Estate Institute of New Zealand.

National residential property values have grown 4.9% over the past year, down from the 6.5% growth reported in March, according to the latest Quotable Value statistics for April.

Wellington City's annual growth remains the highest amongst the main urban centres in the latest period, according to Quotable Value's latest statistics. Find out what is happening in your area here.

The latest confidence survey from the Bank of New Zealand illustrates how buyers are waiting for house prices to drop further, while sellers are refusing to lower asking prices.

Property investors are becoming more cautious, although the latest ANZ Property Investors Survey shows they continue to expect strong returns from housing in the medium term.

"The housing implosion is now confirmed," Goldman Sachs JB Were says after reading the latest sales statistics from Auckland's largest real estate agent.

A comparison of two similar sized regional cities, Whangarei and Wanganui, highlights some potential drawbacks for property investors of having all their eggs in one basket if they restrict their portfolios to provincial towns, when the market slows and values stabilise. Yet there are opportunities in all phases of the property cycle, and some investors are actively bargain hunting in these areas already.

April was a slow month for sales in Auckland, but prices are continuing to hold according to the latest sales figures from real estate group Barfoot & Thompson.

Every issue of the NZ Property Investor magazine will continue to bring you all the news, tips and statistics you need to keep your property investments humming in 2008.

A bill to modernise apartment ownership and body corporate laws will be introduced to parliament soon.

Guidelines for do-it-yourself (DIY) homeowners and builders have been released recently in an attempt to eliminate rogues in the building sector.

Finally there is a glimmer of hope for borrowers that home loan rates will start falling. This glimmer has been intensified by a little competitive pressure.

A new study shows that supply of houses in New Zealand is roughly in balance with the demand. This indicates that supply and demand factors are unlikely to be a major driver, but more importantly that New Zealand is not likely to see the sort of housing crisis unfolding in the United States.

Reserve Bank governor Alan Bollard left interest rates unchanged as expected, acknowledging the weakening economy but saying short-term inflation pressures remain persistently high.

Investor confidence in the level of returns rental property will provide in the next 12 months have fallen significantly.