Friday's headlines: Govt facing a shortfall of $1 billion from buying residential red-zone land in Christchurch; average house price in Auckland tipped to reach $1 million within three to four years; rapists of teenager sentenced to prison.
The New Zealand Herald leads wtih soaring house prices. It says the average prices of an Auckland city home has risen to more than $700,000 - up 12% over the past year and nearly 8% on the 2007 peak.
Experts told the Herald there is no sign of the market slowing soon and one commentator forecast the average price in Auckland could reach $1 million within three to four years.
The Waikato Times reports the family of a Hamilton teen treated like a "ragdoll" during a vicious rape in 2011 have finally seen the perpetrators dealt hefty prison terms.
The rapists were sentenced to 16 and 15 years in prison respectively. A jury found the pair guilty on multiple charges after a trial in February.
The case was called "cold-blooded preying on a child" by Rape Education Prevention executive director Kim McGregor.
The Dominion Post leads with plans by Wellington leaders to head back to the future to breathe new life into the capital's economy. They include a return to the Absolutely Positively Wellington brand which was created in 1991.
A marketing expert told the paper the strategy could blow up in their faces, as it runs the risk that people will mock it.
Aaron Gilmore gave the National Party two fingers on Thursday by refusing to resign over his boozy encounter with a barman.
The Press says the Government is facing a shortfall of $1 billion from buying residential red-zone land in Christchurch and potentially faces a "big bucket of mess" in trying to recover the loss.
The paper says the deficit is nearly double what the government thought it would be last year and a Canterbury economist is warning it will have to tread carefully when deciding how to make good on its asset.
The Otago Daily Times leads with the Minsitry of Justice planning to upgrade the Dunedin courthouse, much to the delight of the city's legal fraternity.
A reformulated version of K2 is already appearing on dairy shelves, a day after an older version of the synthetic cannabis product was removed from sale.
And a Dunedin ACC beneficiary will be paid $10,000 after the Crown admitted a police search of his home was unlawful.