The Government is pressing on with its ban on overseas buyers of existing houses.
New Zealand house prices have set a national price record of $562,000, up 5% or $27,000 annually, driven by strong growth in areas like Tasman.
History shows Queenstown should be bracing for an economic slump, but an expert says ''unprecedented'' tourist numbers are keeping property prices at a peak.
Dunedin has bucked the trend of several other main centres and maintained residential property value gains of 4% during the past quarter.
New figures show the Queenstown-Lakes district has the highest proportion of homes sold to people who didn't hold citizenship or resident visas in NZ.
The number of new dwellings consented in April rose almost 30% on a year ago, but Otago and Southland were relatively flat in both numbers and value.
Housing market confidence has bounced back since the election eight months ago, with regional areas leading the way.
New Zealanders seeking a home could be given access to a second, interest-free mortgage under a scheme being considered by the Government.
Otago house prices have topped a record $460,000 median price, a gain of almost 20% on last year’s prices.
Fire engineers are accusing councils of making illegal demands on them that are inflating building costs by thousands of dollars.
Otago chalked up one of the highest monthly house price gains in the country for March, with prices up 11% to $405,500, while nationally the median price struck a record high of $560,000.
Otago and Southland areas have kept ahead of the annual 7.3% national property value gains, as national sales numbers are up for the month but most value growth is subdued across the country.
The sale of an Auckland waterfront home could have set a new national house price record for the year, fetching just under $30 million.
Year-on-year median house prices continued to climb across the country, Otago and Southland both bettering the national average gain of 6.9% for February, which rose from $496,000 to $530,000.
Outside of Auckland, the area around the luxury resort of Queenstown saw some of the country's most expensive sales. A Brunswick St property sold for $9.3m and was the area's most expensive sale in the past five years.
The gap between the property haves and have-nots looks set to widen as a growing number of first-home buyers turn to their parents to get help jumping on the property ladder.
A zoning decision is due out in late April which will determine what building density can be applied to 9.5ha of land above Queenstown, being sold by the Queenstown Lakes District Council.
Auckland and Queenstown Lakes continue to cool while Dunedin, Central Otago and the Mackenzie district have posted gains well ahead of national averages.
A super-home at arguably Queenstown’s best address has just been priced for sale for an eye-watering $23.5 million.