Mortgagee sales hit 15 year high
Filed under: Blog, Terralink Mortgagee Sales Report Responses: 2 Comments
The monthly report on the level of mortgagee sales produced by Terralink International shows that in the month of March 201 properties were sold under the instruction of the lender on behalf of the owner.
This level represent more than a 4 fold increase as compared to March 2008 when just 42 properties were sold as a function of mortgagee sales. The graph below tracks the monthly sales over the 3 years.
At a regional level the majority of sales (close to 50%) are accounted for by the Auckland region with double digit level of sales reported in Northand, Waikato, Bay of Plenty, Wellington, Canterbury and Otago. The highest year on year increase was witnessed in Wellington with 15 sales in March 2009 as compared to just 1 sale in March 2008.
The summary report containing all graph and data can be dowloaded here.
To provide a richer analysis of this sector of the property market have a read of the article on the Unconditional blog “Latest mortgagee sales data shows only half the story”
[...] back to mortgagee sales. The sales in March were 201 – clearly a massive jump as compared to 42 sales in March 2008. This [...]