Forced Sales Decline

Mortgagee sales hit four-year low

JASON KRUPP 26/04/2013

Mortgagee sales have hit a four-year low but a regional breakdown shows the good news isn’t nationwide.

Overall there were 461 mortgagee sales across the country in the three months to December 31, a drop of 11 per cent compared with the previous quarter and 24 per cent lower than the same period a year ago.

There were 2106 mortgagee sales last year, the lowest total since 2008.

While the headline gains were notable, on a regional level the data confirmed the impression that the recovery is far from nationwide.

Auckland and its white-hot property market saw the biggest fall in the number of mortgagee sales, down 36 compared with the previous period, or 26 per cent.

Wellington recorded a reduction or 15 mortgagee sales in the period, a decline of 31 per cent.

Link:

http://www.stuff.co.nz/business/industries/8600239/Mortgagee-sales-hit-four-year-low

Posted in News & Articles | Leave a reply

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>