Should quote other relevant stuff from that article for completeness sake, in that the bottom end of he market is doing OK

Abstract:
Mr Ingerson found that more houses, flats and apartments priced in the bottom 10 per cent of sales values were being sold in Auckland than at the same time last year.

In the first three months of the year, 11.7 per cent of sales in greater Auckland were from properties in the bottom 10 per cent of the price ladder.

A year ago, that was 10.1 per cent.

"Rather than the bottom end of the market plummeting since the LVR speed limits came on, activity has stayed stronger than the long-term average and above the same time last year," he said.
http://www.nzherald.co.nz/property/n...ectid=11270157