Landlords say they're being left thousands of dollars out of pocket by errant tenants, forcing up rents for law-abiding Kiwis.

Major banks are set to drop deposit thresholds for apartments, making it easier for cash-strapped first-home hunters to get a foot in Auckland's rampant property market.

Phil Twyford's reputation has grown as steadily as homeowners' and state house tenants' woes, writes Claire Trevett.

The prestigious suburb - first to reach the $1 million mark in 2003 - has now set a frightening new benchmark.

QV's latest figures show NZ house values have risen at the fastest pace in 15 months.

Goodman Property Trust, the country's second-biggest listed property investor, has ratcheted up development plans with four new industrial projects in Auckland worth $45.8 million.

With annual price growth at 13.9 per cent, it is no surprise Auckland is increasingly dominant in lifting the country's overall growth rate, writes Geoff Barnett.

Surging Auckland house prices would put New Zealand's lenders at risk if there was a significant downturn.

House prices in Sydney rose 15 per cent in May from a year earlier, prompting a warning of a price bubble in Australia's biggest city.

Surplus Crown land at Manukau, Avondale, Massey East and Hobsonville are set to be offered up to private development companies.

The agent says the price demonstrates the fierce competition among investors and developers for properties with subdividable sections.

Argosy Property reported a 25 per cent drop in annual profit, while its rental income rose, as the listed property investor returned to a tax paying position.

Banks foreclosed on more than 700 properties in the last year when financially strapped homeowners could no longer afford repayments.

Housing Minister Nick Smith says thousands of new homes will be built as part of a planned affordable housing development on vacant Crown land.

As property prices in the area escalate by around $1000 a day, agent says owners of the brand-new $1.14m house have simply "changed their minds".

Today's Budget will unveil details of Government plans to partner with private developers to build affordable houses on Crown-owned land in Auckland.

Data released by REINZ - median national sale prices - does support the Prime Minister’s statement that house prices rose during the previous Labour government.

Nearly one in five Auckland homes are sold within two years of being purchased, the Government has been told by officials.

Thursday's Budget will be judged just as much by what is missing from the document as by what it actually contains.

Agents have welcomed new measures to track foreigners buying property but say tougher moves on money laundering are needed.

Moves to crackdown on property speculators have been welcomed as a step in the right direction by market commentators but one analyst says the changes may be too little too late.

Economists are divided over the likely impact on the Auckland property market of new tax moves to target speculators.

The Government's property speculator tax crackdown will lead to large-scale real estate dumping before its October 1 start and widespread evasion and avoidance, experts say.

Prime Minister John Key all but conceded that pressure from the Reserve Bank of New Zealand for action on house prices was a catalyst for recent announcements.

Property tax changes should make it easier to collect tax from foreign investors, say bank economists.

The IRD has released a summary of commonly made mistakes by non-professional property investors.

The new tax rules will do little to cool Auckland's property market, according to John Key. The city needs more houses.

Mark Keating writes: The Government has been arm-twisted by its critics into a tax response to address Auckland property prices.

The Government has surprised the market with a stronger than expected move on property tax, writes Liam Dann.