The receiver of South Canterbury Finance (SCF) is welcoming a council to allow a residential development on the outskirts of Christchurch.

Property values continued to fall during December, but the rate of decline has slowed, indicating that values are beginning to stabilise.

A rogue exec working for a Chinese company part owned by the Millennium & Copthorne Hotels has escaped prosecution for unauthorised property sales which appear likely to leave the NZX-listed hotelier out of pocket.

Metropolis developer Andrew Krukziener has been bankrupted after surrendering to Inland Revenue's $6 million application.

One of New Zealand's top hotels, the Westin has been stripped of its Qualmark licence as a bitter battle between unit owners and the receiver of the hotel's management company continues.

Failed property developer May Wang's attempt to avoid bankruptcy in the Auckland High Court has been rejected after the IRD objected to a creditor repayment plan.