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.