Starting from March 2014, State-owned Fannie Mae and Freddie Mac will hike the fees they charge lenders for guaranteeing new mortgage loans. This action is being taken in a bid to reduce their market presence and woo private lenders back into the housing finance sector.

Residential property values in New Zealand have been persistently rising November suggested the figures which were just released by the valuation service Quotable Value (QV). In November, New Zealand property values rose at a 9.2% annual rate and continue to be driven by a shortage of houses in Auckland and Christchurch though QV says there appears to be some slowdown in buyer interest.

With the sale of the largest rural property in the market in the North Island - Lochinver Station on the Rangitaiki Plains is about to set a record price for a New Zealand farm. This extensive property is 32km southeast of Taupo on the Napier-Taupo highway.

Today, Statistics New Zealand confirmed that residential building activity increased strongly in the September 2013 quarter in Canterbury.

In existing prices, residential building activity moved up by a seasonally adjusted 9.0 percent. Within this, Canterbury region grew by 20 percent which equates to an additional $73 million. Increase across the rest of the country was 6.2 percent ($89 million).

American economist and financial expert Nouriel Roubini, dubbed Dr Doom  who had  predicted last decade's global meltdown  has now picked New Zealand as having one of the world's most uncertain housing markets.

Property IQ, a property information, data and analytics company released a detailed analysis of first home buyer behaviour showing how all the action is centred around Auckland's fringes.