An Auckland company owned by property investment guru Ron Hoy Fong has been ordered to pay 400 thousand dollars

Ronovation Limited gave people guidance on the residential real estate market - but has admitted to price fixing in the High Court at Auckland.

In 2011, Hoy Fong developed rules to keep his clients from competing against each other.

Justice Sarah Katz says Ronovation's rules were deliberately anti-competitive and designed to suppress competition to the detriment of vendors.