Council has been landed with the cost of repairing a damaged section of a staircase tower wall at the northern end of its main office building in Taupo after unsuccessful efforts to get compensation from those involved in its construction.

Property developer and investor Calan Healthcare Properties has raised its payout to unitholders saying asset sales had allowed it to pay down debt, boosting its financial performance.

Listed industrial property firm Property for Industry (PFI) yesterday posted a June half-year net profit of $6.58 million, up 2.7 per cent on last year.

An American who controversially bought the station on Young Nicks Head near Gisborne has bought another coastal farm nearby.

Planning permission has been granted for a large Auckland office block built two decades ago to be doubled in height and converted into an apartment block.

House prices in Auckland city have dropped by nearly 5 per cent over the past four months, confirming predictions the property bubble may finally have burst.

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LONDON: British house prices rose at their weakest annual rate in ten years in July as homeowners desperate to move dropped their asking prices, a survey showed today.

The price of lifestyle property continues to reach new highs as city dwellers compete for rural properties, according to the latest rural sales figures from the Real Estate Institute of New Zealand.

Borrowers used to price wars in the popular two-year fixed-rate mortgage market should turn their attention to a battle between longer-term fixed-rate loans.

Queenstown and Wanaka have ousted Auckland as the places with New Zealand's costliest real estate.

Poor design, not untreated timber, is the leading cause of leaky buildings, says a Canadian expert.

A wealthy American who bought a $1.35 million share in a South Island sheep station is facing criminal charges alleging he misled the Overseas Investment Commission.

House price inflation showed few signs of coming off the boil with the national median price rising 3.3 per cent in June, according to Real Estate Institute (REINZ) figures out today.

A large commercial subdivision is being planned for Blenheim's eastern outskirts as property developers line up to cash in on a shortage of business land in the town.

A 6.5 hectare business and recreational park on Wellington's waterfront has been launched.