Auckland's house price surge has prompted a warning that over-valuations are creating a bubble that will burst.

Auckland property has now recovered all the losses experienced over the past two years, says real estate company Barfoot & Thompson.

The company behind Wellington's $100 million Holiday Inn has collapsed.

A well known and "trusted" company is likely to offer Hanover and United investors a rival offer to Allied Farmers' proposal, a source says.

While hurting Hanover investors struggle with the loss of millions, the company's owners continue to splurge on upmarket properties.

Hanover investors will have to make a decision whether to approve the company's proposed debt-for-equity swap with Allied Farmers.

Hanover owners Eric Watson and Mark Hotchin are tipped to come off well from a proposed deal to bail out investors.

Allied Farmers has signed an agreement with Hanover Finance and its subsidiary United Finance worth approximately $400 million.

Hanover Finance says some of its property investments are showing signs of life.

$4 billion funds management firm Alliance Bernstein has confirmed it is "relocating" out of New Zealand.

Some tightening of tax rules surrounding property is inevitable, ANZ economists say.