A property in an ordinary Auckland suburb sold for three times its paper worth, topping the list of properties selling above their capital value last year.

Almost 800 Queenstown Lakes District property owners offering holiday home accommodation are about to get the hard word from their district council and could face significant rates rises.

A year ago the Deputy Governor of the Reserve Bank, Dr Grant Spencer, made a speech entitled Action Needed to Reduce Housing Imbalances. In that speech he said "while there are difficult issues and trade-offs to consider in this area, The Reserve Bank would like to see fresh consideration of possible policy measures to address the tax-preferred status of housing especially investor related housing".

Renters have received a little less Christmas cheer, particularly in Wellington where demand for rental properties is soaring, according to Trade Me.

Wellington has taken Auckland's crown as the country's hottest housing market, and outranked it on a list of the world's fastest growing cities for house prices.

Auckland saw a sharp rise in new properties coming to market in December, defying a national slump in sales listings. New listings of Auckland properties added to Realestate.co.nz were up 12.9 per cent on December last year, said the web business' chief executive Brendon Skipper.

In a bid to save money on rent to be able to afford owning a home, more and more Kiwis are turning to house sitting. While Auckland remains a housing hot spot, the biggest increase in house sitters has been in Wellington, according to Jason Strong, managing director of The House Sitting Company.

House prices in Marlborough have rocketed to a record high off the back of a number of premium sales in Blenheim and the Marlborough Sounds.

Many New Zealanders are banking on the price rises seen over recent years continuing into the future - and that's prompted a warning. BNZ has released new research that shows 62 per cent of Kiwis think house prices in their area are now too high.

Average house prices around the country keep rising, with houses in the Waikato increasing in price by more than $100,000 in one year. According to data from Trade Me, the national November average asking price for properties advertised on the website was $624,850, up 9.8 per cent on the same time last year.