real estate

House prices and sales for January were up respectively more than 7% and 20% on a year ago, further fuelling anxiety over pressures building in the under-supplied housing market.

It's more than just a pretty picture that lures a home buyer to a house - it's the words used to describe it too.

Residential house sales nationally grew by more than 20% during 2012 and an acute supply and demand imbalance is likely to keep pushing prices up, particularly in Christchurch and Auckland.

House prices have continued their gradual average rise across New Zealand, driven largely by post-earthquake Christchurch rebuilding and booming Auckland, latest property figures show.

As many as one in 20 Dunedin house sales are falling through at the last hurdle because insurance companies are declining to insure houses built before 1935.

There is a continued strong interest in the New Zealand real estate market, including from investors and first-home buyers.

Dunedin building companies are optimistic new homes are back on the agenda for property seekers.

Good demand for in-town property from the Australian and New Zealand domestic markets resulted in two sections selling for more than $1 million each and three apartments for more than $1.25 million each in July, Real Estate Institute of New Zealand Queenstown spokesman Kelvin Collins said.

Parties involved in the merger of three real-estate brands into a single company in Wanaka say the move sets a precedent for New Zealand.