In news today from QV.


The residential property market showed "considerable improvement" in May as values stabilised, latest figures from QV Valuations show.


That was a considerable improvement on the 9.2 percent decline reported for the year to April, and was the second month in a row where the year-on-year change had improved, QV said.


This improvement is due to continued stabilisation of property values in recent months, and contrasts significantly to a market that was declining sharply 12 months ago."


The QV figures support recent upbeat reports from the real estate industry.


QV spokeswoman Glenda Whitehead said established investors were now back in the market, along with first home buyers and those looking to upgrade.


Property values in all main centres increased slightly in recent months.