An Invercargill property developer has lashed out at the way the Invercargill City Council has handled its resource consent application and at interference from Cr Heather Thomson.

Marlborough remains one of New Zealand's least affordable places to buy a house, despite signs the frantic pace of real estate deals has started to ease.

The age of the standard $3 million super-home is here and the Shore is leading the way.

Rising interest rates are beginning to hammer the listed property sector with the head of the second-largest real estate conglomerate predicting wholesale writedowns.

Amid speculation of the possible $3bn merger of the three Deutsche property trusts, and the possible role of Westfield in such a merger, Deutsche Office Trust (DOT) today announced that it has made its first purchase in Auckland. The purchase price is NZ$110.4 million (A$101m) and should deliver an annual yield of 8%.

Investors urged not to get caught out by rising interest rate rises and falling immigration as house prices show no sign of easing

Rising house prices and interest rates in the June quarter caused the steepest decline in home affordability since the December 1996 quarter, the latest AMP Home Affordability Report shows.

AMP NZ Office Trust said today it was increasing its payout by 16.9% per unit despite posting a flat June year net profit of $34.1 million ($34.2m in 2003). The listed office property investor said earnings per unit were 8.0, while the distribution per unit rose 4% to 7.0 cents.

Despite a third consecutive rise in interest rate to 6%, New Zealand investors continue to laugh in the face of the Reserve Bank as the latest ASB Bank survey shows investor confidence has rebound to near record levels in the second quarter of 2004.

Moves are afoot to restrict housing on a large block of land near Christchurch International Airport.

An apartment block with units the same size as prison cells is filling up fast.

Big hospital, school, university and prison projects could be threatened unless the Government helps the construction industry solve its workload crisis, building leaders say.

The Westfield Group has announced it has acquired the remaining 50 per cent interest in the Two Double Seven shopping centre and adjacent land at Newmarket, in Auckland, New Zealand.

Press Release: New Zealand Property Institute

Urbus Properties will spend $9.5 million upgrading an Auckland property for a new 15-year tenant, Australian hardware chain Bunnings, it said today.