Christchurch landlords’ willing to modify their tenancy expectations could seize opportunities presented by the earthquake repair work.

Mike Pero has hailed the success of his ‘next generation’, low commission real estate company, announcing it has established 17 franchise owners and a total of sales force of 23 between Auckland and Christchurch.

Keith Manch has announced he is stepping down from his role as chief executive of the Real Estate Agents Authority (REAA).

The median sales price for a property in the Auckland suburb of Franklin has risen 21% in the year to August 2011, while prices have fallen 35% in the Waitakeres.

The average median rent for a three-bedroom property in Birkenhead rose 27% in the year to August 2011, while the same sized property in Auckland City Centre saw a 22% fall.

A Dunedin property investor is lobbying the Government to change its tax laws for earthquake strengthening to make the work depreciable.

Floating mortgage rates are unlikely to rise this year after Reserve Bank governor Alan Bollard took his cue from deteriorating sentiment about the global economy and kept interest rates on hold, as expected.

Property values in parts of Auckland are above the market peak of 2007, while Wellington values languish 7.7% below.

A lack of quality listings is helping push values up in Auckland, while Wellington remains in a “holding pattern” according to the QV Index for August.

High profile commercial property investor Sir Robert Jones has expanded his Auckland office portfolio with the purchase of a six story office and retail block in Takapuna.

Continuing turmoil in global financial markets is likely to stay Reserve Bank governor Alan Bollard's hand on Thursday but the big question is how long will it keep him on hold.

Residential building activity has fallen to its lowest level for 18 years, down 12% in the June quarter and 24% over the year.

Nationwide real estate agents have reported little evidence investors are looking to buy in the current market – though investors are buying in some locations.

Property IQ says some valuers are scaremongering in suggesting the valuation clearing house system it is trialling with ANZ Bank will lead to a lowering of standards and inferior valuations.

The housing market may be in for a strong Spring season if new listings are any guide.

ANZ Bank and PropertyIQ have been trialing a valuation clearing house system aimed at eliminating fraudulent valuations.