Residential property prices have increased significantly over the past five to ten years, offering New Zealand investors solid capital gains.

While the market has now started to drop - decreasing the immediate gains through the sale of an investment property - would-be investors sometimes forget that there is also the opportunity to generate lucrative rental returns from an investment property.

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There was a time that property investment was considered an option only for the rich. But with today's innovative mortgage products the opportunity to build wealth through property ownership is well within the grasp of many New Zealanders.

However as with any investment, there are no guarantees that every property will generate the best returns so it's important that you do your homework before you buy.

If you're keen to explore purchasing an investment property, your first port of call should be with your broker to assess exactly how much you'll be able to borrow. Your broker may also be able to provide you with a loan pre-approval so you'll be able to buy with confidence as you'll know how much a lender is willing to fund. With finance in place your next consideration is what type of property to buy and in which area.

There's a range of options to help you source further information on these issues. As well as researching on the internet, make sure you speak with your broker. They'll be able to discuss some of the pros and cons of each type of investment property as well as put you in touch with other relevant professionals, such as accountants, to work through tax and other issues to ensure your investment property is as effective as possible.

Are you looking to move on to something bigger and better? Perhaps work has taken you to a new area or maybe with the kids now moved out you're ready to downsize?

It can be a tough gig selling your home in a market on the downturn - and one that looks set to slide further. Reserve Bank of New Zealand Governor Alan Bollard said in June that house values will fall 7.7 per cent this year alone and won't rise again under 2011.

But with the right approach you can still achieve the best sale price for your property given the current market.

Before you embark on the sales process you'll need to consider your objectives: most importantly, are you looking for a fast sale or to achieve the maximum price?

While there's still every chance you'll achieve both, it's best to consider which is more important as this will dictate your sales strategy.

With your strategy established you can start to think about preparing your property for sale.

To achieve the best result you'll need to think like a buyer and consider what a prospective buyer will like and dislike about your property.

First and foremost you'll need to detach yourself from your emotions - it's important to remember that the things that appeal to you about your home may not necessarily push someone else's buttons. So make a list of all the aspects of the property that may be a problem and consider what can be done to mitigate the negatives.

While there's obviously nothing you can do about location and structural matters, you can have a considerable impact on cosmetic appearance.

If you have a yard, for example, get to work on fixing it up as soon as possible so that when prospective buyers arrive it's clean and green. Fencing is also something that can make a big difference since buyers with young kids or pets may well look for a well fenced property.

You can also make a big impact on the interior without having to spend a fortune. You may well love all your furnishings and ornaments but will buyers? If you've chosen an auction over private sale it may be worth stripping out all your belongings and shipping in hired furniture for a day - it may well make your place feel bigger if it's not so cluttered.

With your home looking at its best you'll be in the best position to attract your desired price; you'll also feel a lot more confident when it comes to negotiating.

While the Reserve Bank of New Zealand cut interest rates by 0.25 per cent in July this year, the continued hike in interest rates from October 2005's seven per cent have increased home loan repayments dramatically. Combined with the higher cost of living it's no surprise a good deal of borrowers have found themselves struggling to stay afloat.

If you feel like you're in this situation don't give up, there are a number of ways to make your loan repayments that little bit more manageable.

• Extend the life of your loan: Adding an extra five years to your loan term can minimise your repayments.
• Change to interest only: This could reduce your loan repayments dramatically, but remember it's only a short term strategy - otherwise you'll never pay off your home.
• Change your loan type: You may be paying extra for loan features you don't need when a basic product could be cheaper.
• Consolidate your debt: If you're juggling credit card debt, personal loans or car finance with a mortgage you may find one loan easier to manage and cheaper. By rolling other debts in with your home loan, you'll pay your mortgage rate on all of your debts, which is likely to be the lowest.

These are just a handful of ways to better manage your loan repayment so make sure you chat to your broker about any concerns you have - they'll be best placed to find a solution for you.

Nothing can dampen the joy of spring more than bothersome hay fever. Consider these tips this season to keep your symptoms at bay.

• Spring clean: Reduce your exposure to dust and pollen by keeping your home squeaky clean.
• Be informed: Check the forecasts for wind and pollen and try to avoid outdoor activities if the forecast isn't good.
• Keep your bed allergy free: Wash your bed linen in hot water and avoid hanging it out on a clothes line - opt for the dryer instead.
• Protect your nose: Smear the inside of your nose with petroleum jelly or oil such as sesame or almond to stop pollen from touching the lining and to reduce irritation caused by tissues.
• Quit gardening: Hire a gardener - do not even attempt lawn mowing... you're just asking for trouble!
• Block it out: Keep the windows closed in your house and car and use air conditioning instead. (Be sure to keep the filters clean!)
• Spice up your life: Add spices with anti-allergenic properties to your diet, such as turmeric, sage and coriander.
• Get moving: Exercising is a great way to clear your body's channels and boost your immune system - but best keep it to the gym rather than a grassy park!
• Eat well: By keeping healthy your body will be best placed to tackle hay fever head on, so up your intake of fruit and veg and avoid sluggish foods such as take away, cakes and pastries.

New Zealand borrowers are no doubt breathing a little easier this spring with the official cash rate finally falling at a healthy rate.

Interest rates now sit at 7.50 per cent following the Reserve Bank of New Zealand's (RBNZ) 0.25 per cent cut in July, and a bigger than expected 0.50 per cent in September.

Whether or not rates will fall further depends on the performance of our economy and the propensity for niggling inflationary pressures to ease.

Although the rate of inflation is tipped to hit five per cent this quarter, the RBNZ does expect it to trend down over the medium term.

While the interest rate outlook for borrowers is brightening, the real estate market continues to buckle. An unexpected recovery in July was all but wiped out in August as sales fell to the lowest level recorded in the 26 years since the Real Estate Institute of New Zealand (REINZ) began recording data.

The national median selling price is now $330,000 - 5.71 per cent down from a year ago. While it's a tough time to try and sell, the good news for buyers is prices are expected to drop further over the remaining course of 2008 though the market should stabilise into 2009.

With the recent rate changes now is a good time for borrowers to give their home loan a once over. A visit to your mortgage broker is always a smart strategy when interest rate cycles change, and with rates almost one per cent lower than three months ago your broker could well find you a better deal than the mortgage you're on now.

It might also be a good time to reassess your household finances. The average borrower is looking to save at least $100 a month on their mortgage as a result of the rate cuts so think carefully about where that extra cash might go. And if you can afford it, now could be a good time to put that extra cash towards your home loan.

So whether you're on the hunt for a better deal, or looking to get on top of your mortgage, now that interest rates have finally come down visit your mortgage broker for informed, professional advice.