Seventy Wellingtonians will race to bag a retrofit insulation prize and up to $1000 off their power bills next week when they take each other on in a giant sleeping bag race across the city.

At an Executive meeting held recently, Andrew King was elected as the new President of the New Zealand Property Investors' Federation.

The national housing market recorded a lift in volumes during the month of April, with the seasonally adjusted number of sales up 3.0% compared to March, according to REINZ figures, the most up-to-date data on the New Zealand real estate ma

Two new, practical Guides for diagnosing and fixing leaky homes will benefit architects, designers, councils and homeowners, Building and Construction Minister Maurice Williamson said today.

Barfoot & Thompson housing data for the Auckland property market has just been released. Note that due to processing delays, the monthly rental data is not available until later in the month.

Key data (all figures seasonally adjusted)

The average asking price for New Zealand houses has risen to its highest level in four years, suggesting that seller confidence in the property market remains strong.

Auckland's property market is showing signs of recovery, with Auckland property sales last month the highest they have been since the market last peaked in November 2007.

Weekly Rentals Increase To All Time High

The Auckland residential property market 'bounced into life' in March, with sales volume reaching their highest level in a month for nearly four years, and the average selling price achieving an all time high of $581,190.

March was characterized by more investors, more multi-offers and more property sales, according to the First National Group's monthly residential real estate agent survey.

The shot in the arm came from a variety of quarters, First National Group general manager John Stewart says.

High profile Hawke's Bay winery and vineyard Paritua Vineyards Ltd has been bought out of receivership for an undisclosed sum.