The long-term lease and boutique visitor accommodation business within Queenstown's historic Eichardt's Private Hotel looks set to be bought for less than $1 million by American billionaire Julian Robertson.

Real estate company Barfoot & Thompson is reporting only 561 house sales in Auckland in October, the lowest level in 20 months.

The NZ property market has plateaued, with a rise in new listings failing to boost the market.

Homes are at their most affordable in six years - apart from in Auckland, where the average weekly mortgage is more than $570 a week.

A fees fight has broken out between the Govt's real estate agent organisation and the Real Estate Institute.

New Kiwibank head Paul Brock is urging potential first home buyers not to be spooked and to go out and buy, so long as they can afford to.