Figures released to the NZ Herald from PropertyIQ show homes in Auckland are selling on average at more than 20 percent above the Capital Value set by council.  National house price inflation was running at 8.7% for the 12 months up to May 2013, and the figure was nearly 15% in Auckland.

Meanwhile, fixed mortgage rates are rising with several banks including BNZ,  Kiwibank, and Westpac lifting their mortgage rates.

Source: Interest.co.nz