Early Edition with Kate Hawkesby

I've got some numbers for this morning. QV House Price Index for September quarter: guess what? Going backwards. Auckland leading the fall.  Homes are worth an average of 1.1% less. Auckland's 2.5% less.  And how does that make you feel, really?  Most homeowners won't care because they're not trying to sell. But for those who are, it's depressing.  Now first home buyers are cranking - a quarter of new mortgages went to first home buyers in the first half of the year.  So we've got to ask ourselves: is this really what we want?  When the numbers are bad for owners they're good for would-be-owners.  We're forever complaining about the price of property, until we need to sell.  So if this is the new normal, we'd better get used to it.  It's interesting to look at what's selling. We had another developer —apartments— go bust in Auckland yesterday.  Have a look at the apartments, even the nice ones, they were building - is that really somewhere you'd want to live?