The Real Estate Agents Authority (REAA) hopes the launch of a new complaints handling system will reduce the number of official complaints against real estate agents.

The average rent for a four-bedroom property in Auckland's Ponsonby has risen 57% over the past year, while Epsom has seen a 40% fall, according to the latest Crockers Auckland rental price table.

Aucklanders rate rental property as their preferred investment class, bucking the national trend for favouring term deposits, according to the latest ASB Investor Confidence Survey.

More estate agents are seeing increased activity from first home buyers and sustained interest from property investors, according to the second BNZ-REINZ Market Survey.

The housing market saw a lift in volumes over April with a seasonally adjusted 3% rise in sales compared to March, according to the latest Real Estate Institute (REINZ) report.

The REINZ April 2011 regional commentaries

A flattening of house price values in Auckland helped residential property values remain relatively stable at a national level across April, according to the latest QV report for April.

House prices in New Zealand are over-valued by as much as 25% compared to the average over the past 20 years, according to the International Monetary Fund (IMF).

Property values appear to be stabilising across the country, according to QV's report on the regions.

Auckland property investors would "always have a letting market" for the city council's proposed smaller inner city dwellings, according to Bayleys managing director Mike Bayley.

For the new Property Investors Federation president Andrew King, taking on the top job in an election year has given an extra focus to the Federation's role lobbying on behalf of property investors.

The average weekly rent in Auckland fell by $13 during April compared to March, while the average weekly rent stood at $421, according to Barfoot & Thompson.

The lack of new houses being built and construction industry capacity issues as the Christchurch rebuild begins will lead to an inevitable rise in house prices, according to BNZ economist Tony Alexander.

With the Reserve Bank keeping interest rates low more home buyers will move to floating rate mortgages, according to Westpac New Zealand chief executive George Frazis.

Consents for new homes have fallen to the lowest level since records began - 1982.

The average house sales price for Auckland stood at $544,975 in April, $3,500 above April last year and the highest April figure achieved by Barfoot & Thompson, the estate agent revealed today.