House values in Nelson's most "affordable" suburbs are increasing faster than anywhere else in the region, new figures show. The central Nelson suburb of Toi Toi has seen the greatest rise in house values over the past year, followed by Tahunanui and Nelson South.

The roof is no longer attached to the walls, and the backyard is overrun with weeds, but this central Wellington bungalow is attracting plenty of would-be buyers, despite a current rateable value of $540,000. Interested buyers cannot even look inside the 1930s three-bedroom house in inner-city Mt Cook, after Wellington City Council deemed it was dangerous and earthquake-prone late last year.

Would-be first-home buyers scrimping and saving to get a deposit together may think $150,000 is an impossible target. But what if you are already spending that - and a lot more - on your kids?

Infrastructure and mining services group Downer EDI has agreed to buy New Zealand builder Hawkins for an undisclosed sum, as it expands operations in the Pacific nation.

American news anchor Matt Lauer was the mystery buyer of thousands of hectares of property near Wanaka in New Zealand, according to media reports.

Wellington's rental squeeze is showing no sign of abating, with 40 would-be tenants descending to a flat viewing in inner-city Mt Cook on Wednesday morning.

Neverland, the onetime ranch and private playground of the late pop icon Michael Jackson, has returned to market for $94 million (US$67m), a 33 per cent price chop from its original list price of US$100 million (NZ$140.4m).

House prices in Christchurch and much of Canterbury are flattening off as the city's housing market stays quiet. Despite the arrival of spring, figures on listings, values and prices all indicate a lack of market heat.

A flat housing market is threatening plans for high-density living in parts of Christchurch. Rows of attached housing built to provide cheaper housing sit awaiting buyers around the city's commuter belt. Many are at marked down prices. Others advertised for sale off the plans have not been built.

Auckland parents desperate to get their kids into exclusive school zones are paying more than $2 million to buy a house in some areas, new data suggests.