An elite number of homeowners shelled out over $3m for new homes in the past year, despite being in the midst of a credit crunch.

Home loan affordability worsened in Auckland and Northland for first home buyers last month.

Some of the tax changes under consideration would reduce house prices and raise rents, says Westpac.

Mark Hotchin has received dispensation to exceed the building coverage and impermeable surface area on his $30m property.

House prices stayed static in the last two months and fears of more expensive mortgage money could be to blame.

One in three people viewing realestate.co.nz earlier this year searched the words "mortgagee sale", hunting a bargain ripe for plucking.

Sir Edmund Hillary's home has been saved from the wrecker's ball and will be moved to the school that bears the famous New Zealander's name.

New Zealand house values rose 1 per cent in the 12 months ended November 30, up from a 0.20 per cent gain in the period through October, says QV Valuations.

Figures released today show nationwide values are up 4.1 per cent from April but still 5.9 per cent below the market peak of late 2007.

Two years on from the heady days of 2007, Devonport has weathered the property bust better than anywhere else in Auckland.

One of Auckland's most breathtaking addresses is on the market for a cool $4.6 million.

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.