House prices have hit an all-time high but economists remain sceptical, saying higher mortgage interest rates are dampening the market.

House prices rose a modest 1.4 per cent in December, but ended the year nearly 10 per cent up from the year before.

Quotable Value figures show a dramatic and unexpected turnaround in property values in the past 12 months.

Hamilton-based natural sweetener company BioVittoria's bid to float on the stock exchange has fallen short.