Fewer homeowners lost their properties in mortgagee sales last year - despite soaring house prices - as near record-low interest rates make it easier for struggling property owners to afford repayments.
Figures released exclusively to the Herald by data analysis company CoreLogic show a slight increase in forced sale numbers during the last quarter of 2015, but annual foreclosure numbers fell from 802 to 550 year-on-year.
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Waikato recorded the most mortgagee sales (77 down from 145), followed by Auckland (75 down from 123), Manawatu-Wanganui (71 down from 102), Wellington (62 down from 78), Northland (47 down from 59), Bay of Plenty (45 down from 78), Canterbury (35 down from 42), Hawkes Bay (29 down from 38), Tasman/Nelson/Marlborough (24 up from 18), Otago (23 down from 26), Taranaki (21 up from 18), West Coast (20 down from 21), Southland (10 down from 34) and Gisborne (10 down from 20).