The "GST-income tax switch" will from tomorrow leave the vast majority of income earners with at least a few more dollars in their pockets each week.

An ex-real estate agent allegedly used fake paperwork to secure bank mortgages in other people's names as part of an elaborate property scam involving more than $10m.

"Many mum and dad investors have lost large sums of money because of the poor investment advice they've received," blurted Simon Power.

Auckland and Queenstown have again been confirmed as having the most unaffordable housing for locals.

A weakening recovery and the Christchurch earthquake have prompted the Reserve Bank to leave official interest rates on hold this morning at 3 per cent.

Kiwibank accounted for 40 per cent of new residential mortgages written by the major banks in the June quarter.

Finance Minister Bill English has asked banks and the Inland Revenue Department to be flexible with Christchurch earthquake victims.

The average NZer is spending $45 less a week than before the recession in a bid to wipe out debt and inject equity into their homes.

A right-wing Super City candidate must pay a finance company more than $70,000 after a judge ruled that she misled it by not revealing a debt.

ASB has announced it will be the first major NZ bank to offer asset rich but cash poor customers reverse equity mortgages.

Credit crunch has changed the landscape for residential building, writes Kevin Atkinson

Equities on Wall Street and across Europe fell after a US home sales fell a record 27 per cent in July.

A report prepared by business researcher Infometrics is predicting house prices will fall 4.1 per cent by next June.