New Zealand property prices rose last month but a supply shortage in some regions is starting to takes it toll on overall sales volumes.

Developers of two huge residential schemes knocked back by authorities in Auckland last week are vowing to fight for their right to build and are heading to the Environment Court.

Rental property is back on top as the most popular place for people to invest their money despite a stellar run from the New Zealand sharemarket last year.

If it ever occurred, writes Andrew King, any existing home owner who previously had less than 70 per cent equity in their home would probably lose it to a mortgagee sale.

SkyCity Entertainment Group was trading near an annual high yesterday, even before its lucrative convention centre deal clearance.

House prices and overall sales numbers eased last month but the property market remains much stronger than a year ago, according to figures out this morning.

More prisons will be turned into working prisons where all prisoners will be placed in a 40-hour week programme of work and rehabilitation, says John Key.

Auckland homeowners are being encouraged to sell their houses to wealthy Chinese investors in a television marketing push.

Prime Minister John Key has called Labour's KiwiBuild housing policy "dishonest".

When looking for a first home, it's hard enough having to contend with all the other young families wanting their first step on the property ladder.

House prices struck a new median price record of $389,000 last December, up 9.6 per cent on the same month in 2011, the Real Estate Institute of NZ says.

Self-described business coach Shane Wenzel has been sent to jail for three years for mortgage fraud.

A scheme has been launched to encourage Aucklanders to buy big new planned Christchurch houses for $640,000, as a financial watchdog reminds investors.

Thinking of using KiwiSaver's first-home subsidy for an investment property?