Property prices reach all-time high
House prices continued their upward momentum last month.
House prices continued their upward momentum last month.
A big chunk of the surviving finance company sector is unlikely to outlive the retail deposit guarantee.
Investors in Hanover Finance will not now get all their money back and are instead likely to receive 70c in the dollar over five years.
A shortage of homes for sale has pushed Auckland's residential property values higher than a year earlier, QV figures show.
Rising house prices and interest rates have combined to weaken home loan affordability to its worst level since December 2008.
Failed major developments in New Zealand are piling up, like the Soho Square project in Ponsonby which is now mocked as 'Sohole'.
A shortage of properties listed for sale, which was thought to have been a factor in rising prices, looks to have eased last month.
Queenstown developer Rod Nielsen's business practices should be restricted and he must bear responsibility for commercial irresponsibility, says the High Court.
John Key says the government is still working on a leaky homes solution but it is unclear if the huge bill NZ faces will affect its credit rating.