Housing market sales during October are down by as much as 46% on the year earlier in some parts of the country, according to the latest Harcourts MarketWatch figures.

A gradual slowing of the decline of commercial property capital values market is helping deliver improved investment returns, according to the Investment Property Databank.

The traditional springtime rise in residential property sales has failed to materialise so far this year, though the national median price is holding firm at $350,000 according to the latest REINZ monthly house price index.

Housing market activity has weakened ‘considerably’ over the past year and house prices could decline further, according to the Reserve Bank’s Financial Stability Report.

Property investors have given a lukewarm welcome to the launch of the Homestar property ratings scheme, citing costs and the possibility of compulsory accreditation as problematic.

Falling investor confidence has prompted a flight towards the safety of term deposits at the expense of property investment, according to the latest ASB Investor Confidence Survey.

Property values continue to gradually decline and are now 5.5% below the market peak of late 2007, according to the latest QV residential property report. However the news is not all bad.

Monthly home sales in New Zealand's biggest city have fallen to their lowest level in 20 months as the lingering effects of the stalled economic recovery continue to weigh on households.

Property investors are eager to reduce debt and increase savings, mirroring the financial changes many New Zealanders are making, according to the latest ANZ Property Investment Survey.

There is a shortage of four-bedroom rental properties across the country, demand for all types of rental accommodation in Auckland and a small overall increase in rents, according to First National’s latest quarterly residential property management survey.

The housing market remains weak, with sales and average selling prices falling further in September according to the latest ANZ Property Focus, which described a housing market “lost at sea and struggling to keep its head above water.”

The residential property sector remained soft in September, measured by building consents, with the effects of the Canterbury earthquake adding to the woes of the struggling residential construction sector.

The decision to leave the official cash rate at 3% today came as no surprise. The interesting part of the statement from Reserve Bank governor Alan Bollard was his comments around monetary policy tightening, in other words, when will the OCR and home loan rates start rising.

Bayleys Canterbury has expanded its range of property services with the launch of a residential property management and casual letting division.

A rise in immigration numbers in September is seen as a good sign for the housing market.