A real estate agent who tampered with a sale and purchase agreement to increase her stake in a commission split has been fined.

The number of new listings fell for the fifth straight month last month, fuelling talk of a looming property shortage in our biggest city.

Watching John Key and Bill English dispose of South Canterbury Finance was a bit like watching a python swallowing an antelope.

The Govt yesterday paid $1.775bn - or $405 for every person in NZ - to take control of failed moneylender South Canterbury Finance's assets.

A private equity fund is to receive a $100m taxpayer-funded payout from the Govt in order to make the receivership of South Canterbury Finance run more smoothly.

The Govt's decision not to support a recapitalisation plan for South Canterbury Finance was the right one.

South Canterbury Finance has told the NZX "there can be no certainty" its recapitalisation and restructuring proposals will be successful.

South Canterbury Finance needs a new backer or a government bail out to avoid receivership.

Allan Hubbard's finance company is near receivership and is understood to be in last-minute talks with the Govt and overseas investors to avoid NZ's largest corporate collapse in decades.

South Canterbury Finance is likely to remain in a trading halt into next week as it awaits fresh capital.

South Canterbury Finance had its securities halted from trading on the NZX debt market pending an announcement on a new investor.

The value of some investments were overstated by at least 25 per cent.