The bank shaved 10 to 15 basis points off its 18-month, two-year, four-year, five-year and seven year fixed terms. None of the resulting rates were market-leading. At the same time, BNZ hiked its two- and three-year 'specials', sweeter deals which come with various strings attached.

Other parts of the country have overtaken Auckland as growth engines of the housing market, the latest real estate industry figures show. New record median prices were set in Waikato/Bay of Plenty, Hawke's Bay, Wellington, Nelson/Marlborough and Otago as the market strengthened in December, according to the Real Estate Institute of New Zealand (REINZ).

There is further evidence that higher prices for housing outside Auckland are on the cards this year. The Real Estate Institute (REINZ) said the pace of selling outside Auckland and Canterbury/Westland, the two main population centres, was picking up fast.

Jonathan Tepper, a UK based economist and founder of research house Variant Perception, is convinced Australia is in the midst of "one of the biggest housing bubbles in history". The Australian Financial Review reports about how he and local hedge fund manager John Hempton scoped out the apparent epicenter of this bubble, Sydney's western suburbs, and walked away thinking it was even worse than they'd originally thought. It's a fascinating story. In a subsequent report to clients, obtained by Fairfax Media, Tepper outlines his views with a host of data. "The Australian housing bubble could not have become as ridiculous as it is without the help of easy financing," he writes.

The start of the new year has meant a rent rise for tenants around the country. The latest Trade Me Property Rental Index shows the national median asking rent increased from $420 to $435 between December and January, after very little change through 2015. Head of Trade Me Property Nigel Jeffries said it was expected. "It's a trend we see each year as many landlords look to adjust their rental incomes at the start of the year."

The British-born, Auckland-based CEO of a $4.4 billion Australasian company says New Zealand's tax regime is so far ahead of Australia's that all his new recruits want to move across the ditch. Fletcher Building chief executive Mark Adamson also tipped a bucket on any talk of an Australian infrastructure boom, saying the state of Australian politics has dented his confidence that projects will actually be delivered.

HSBC has launched a 3.95 per cent home loan rate, which it claims is the lowest offered in New Zealand for over 50 years. The new rate applies to the bank's fixed 18-month loan. Like all home loan 'specials', it comes with several strings attached.

Good value housing and a city buzzing with life spurred Dan Ferguson to move from Sydney to Wellington. He is by no means alone. Statistics New Zealand figures show 2301 people migrated to Wellington from Australia in 2015, an increase of 86 per cent from 2012.

Sunny Gisborne has been revealed has the best place in the country for would-be landlords looking for a good return. Industry website realestate.co.nz analysed the returns on residential housing in every region and found Gisborne came tops in January, with a 5.78 per cent return.

A well-known pub and a site soon to be taken over by former Conservative Party leader Colin Craig are among the latest group of new housing areas planned for Auckland. Building Minister Nick Smith and Mayor Len Brown have announced the second to last tranche of Special Housing Areas (SHAs), under the three-year agreement the Government and the council signed to tackle the city's housing shortage.