Mortgagee sales slip in February
The latest data released by Terralink shows that 124 properties recorded as repossessed mortgagee sales were registered as sold in February, down on the 150 sold in January and a significantly lower level that the 191 recorded in December.
When compared to the same period in 2008 the figures do show a significant increase – just 46 sales in February 2008. On an annualised basis the past 12 months has seen an almost trebling of sales with 1,463 sales up from just 533 in the 12 months to February 2008.
The figures mirror closely the reported trend in listings and searching for mortgagee properties on realestate.co.nz which last week reported a fall off in inventory and less activity in searching for mortgagee property.
On a regional basis the majority of sales were recorded in Auckland (51), with 17 in Canterbury, 13 in Northland and 10 in the Waikato – collectively these 4 regions accounting for 65% of all sales.
A copy of the full graphs is available to download here (754KB pdf).