KEY POINTS:
Mortgagee sales are on the rise.
The mortgagee sales index compiled by interest.co.nz from the properties listed as mortgagee sales on the Trade Me and Realestate.co.nz websites show the number rose 19.8 per cent in the last week to 260. The number of listings in Auckland rose 16.9 per cent to 138.
In the last six weeks since we started compiling the numbers, the number of mortgagee sales listed has increased 55.6 per cent.
Trade Me has 54,532 residential listings, including 81 mortgagee listings, while realestate.co.nz has 57,387 listings, including 179 mortgagee listings. That represents a proportion of 0.23 per cent of listings and would be a much smaller percentage of all properties. That is also significantly below the 1 per cent of all properties estimated to be in foreclosure or close to foreclosure in the United States.
There will be some duplication in these figures, but in the absence of official figures from the banks, it is the only consistent indication available of mortgagee listings.
- INTEREST.CO.NZ
