Auckland house prices will rise by almost 30pc in the next three years putting the city ahead of every other region, a study predicts.

House prices will rise by 24pc over the next three years due to low interest rates and a shortage of new housing, report predicts.

First-time homebuyers are being told to set aside suburb snobbery if they want to get on to the property ladder.

After a tumultuous 18 months, the real estate market seems to be shaking off some of its malaise.

For the first time in 18 months, more people think NZ house prices will rise than those expecting a fall, says ASB Bank.

Auckland's biggest real estate firm says the average sale price rose $10,000 in July on the same month last year and look set to stabilise.

Defects at the huge Hobson Gardens apartment block in Auckland could cost up to $20 million to fix.

A $65 million Novotel hotel is planned for Auckland Airport in time for the Rugby World Cup in 2011.