The National Government’s hands-off approach to the housing crisis over the past seven years has led to New Zealand becoming the most unaffordable place in the world to buy a house, the Green Party said today.

Nationwide residential property values surged ahead in the year to December 2015 at a rate of more than 10% faster than for the same period the previous year.

While there has been a modest improvement in the affordability of housing in most regions, the latest Massey University Home Affordability Report shows Auckland is now 59 per cent less affordable than the rest of the country.

The growth in residential building hit an all-time record of a billion dollars of work consented in a month for the first time ever, Building and Housing Minister Dr Nick Smith noted today in response to Statistics New Zealand building consent data.

The number of new dwellings consented reached a 10-year high in November 2015, Statistics New Zealand said today.

Owner and chairman of Century 21 Australasia, Charles Tarbey, believes the Trans-Tasman property market is returning to what could be defined as 'true real estate’.

In December the sales price of Auckland housing remained stable but there was a significant fall in the number of sales compared to those in November and December 2014.

Central Otago joins Auckland as one of only two regions in the country where average asking prices of homes for sale now exceed $800,000, according to data from Realestate.co.nz, New Zealand’s largest website dedicated only to property.

There was good and bad news for first home buyers in November with housing affordability worsening in some regions and improving in others, according to Interest.co.nz's Home Loan Affordability Report.

Data released today by the Real Estate Institute of NZ ("REINZ") shows there were 568 more lifestyle property sales (+34.8%) for the three months ended November 2015 than for the three months ended November 2014.

Data released today by the Real Estate Institute of NZ ("REINZ") shows there were 42 more farm sales (+11.2%) for the three months ended November 2015 than for the three months ended November 2014.

"With the average weekly rent across the Auckland region now in excess of $500 and some interest rates falling below 4.5%, many renters will contemplate becoming buyers and for some it will make much more sense," says Geoff Barnett, National Manager of Century 21 New Zealand.

Lodge Real Estate’s managing director Jeremy O’Rourke, today said six (6) houses sold above the million dollar mark in Hamilton during the month of November 2015. This was a record month for sales at this level for 2015.

Any softening of the property auction market in Auckland is likely to be merely a temporary, cautious reaction as new financial restrictions come into play, says Harcourts NZ CEO Chris Kennedy.

"If specific Government and Reserve Bank control measures hadn’t been taken, Auckland’s latest house prices would’ve probably been even steeper," says Century 21 New Zealand National Manager Geoff Barnett.

The latest monthly QV House Price Index shows that nationwide residential property values for November have increased 15.0% over the past year which is the fastest rate since February 2006. Values rose 4.0% over the past three months and are now 34.1% above the previous market peak of late 2007.

The number of new dwellings consented rose in Auckland, but decreased in Canterbury, in October 2015 compared with October 2014, Statistics New Zealand said today.

Life became slightly easier for first home buyers in many regions last month thanks to a small drop in the lower quartile selling price and the ongoing slide in mortgage interest rates, according to the Interest.co.nz Home Loan Affordability Report.

The Government today marked the 500th completed home at Hobsonville Point and the launch of a new precinct at the Auckland housing development with a visit by the Prime Minister and Building and Housing Minister Dr Nick Smith.

Ten heritage building owners will benefit from the latest round of Wellington City Council’s Built Heritage Incentive fund after their applications were approved today.

The decision by a panel of commissioners appointed by Auckland Council to allow new houses to be built on a disused quarry site in Mount Eden has been welcomed today by Building and Housing Minister Dr Nick Smith.

The phenomenon known as the ‘Auckland effect’ has infiltrated the Bay of Plenty property for sale market and it has become the second most expensive region to buy a house, according to October’s Trade Me Property Price Index.

A Lincoln University expert says new figures are making it clearer investing in more central business district (CBD) office space makes no financial sense for developers.

Property Council is optimistic about Labour’s housing reforms announcement made by Housing spokesman Phil Twyford. Property council chief executive Connal Townsend believes the annoucemnet paves the way to lateral thinking about addressing New Zealand’s housing problem.

Labour’s ground-breaking new policy on reforming planning rules will make housing more affordable, Labour’s Housing spokesperson Phil Twyford says.

Building and Housing Minister Dr Nick Smith has rejected data used in a media report published today on the number of homes completed in Auckland under the Housing Accord with Auckland Council, saying the pace of residential construction in Auckland is at a 10-year high and is continuing to grow.

The latest monthly QV House Price Index shows that nationwide residential property values for October have increased 14.0% over the past year which is the fastest rate since March 2006. Values rose 4.7% over the past three months and are now 33.3% above the previous market peak of late 2007.

New Zealanders are moving towards the idea of mixed-use development where housing is within walking and cycling distance of key amenities like work, school or shopping, according to a survey carried out by the New Zealand Centre for Sustainable Cities.

A new tenancy bond service goes online today as part of the Government’s programme of making public services more convenient and easier, Building and Housing Minister Dr Nick Smith has announced.

The latest figures released today by Statistics New Zealand showing the number of building consents across the country reaching at an eight-year high have been welcomed by Building and Housing Minister Dr Nick Smith, who says the data confirms that good progress being made in increasing housing s