The easing of mortgagee sales is still some way off with the January figures up 31 per cent on the same month last year.

Shareholders in rural services company Allied Farmers stand to lose out over an estimated $24 million mortgage on the Jack Nicklaus-designed Kinloch Golf Club near Lake Taupo.

David Henderson, the Auckland property mogul who created about $1b of real estate, says agreeing to bankruptcy would be "cowardly" and way too easy.

New Zealand's biggest shopping mall is planning a major expansion, including multi-storey apartments and office blocks to create a "mini CBD".