Waikato mortgagee sales increase against the trend

Last updated 05:00 26/12/2012

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Mortgagee sales may be trending down across the country but Waikato has bucked the trend with sales slightly increasing over the last quarter, figures from location intelligence specialist company Terralink International show.

There were 65 forced house sales in the region between July and September of this year, slightly up from second quarter figures showing 63 sales.

The regional trend goes against the grain of national figures; across the country there were there were 516 mortgagee sales from July to September, a 15 per cent decrease when compared with the previous quarter.

Bay of Plenty forced sales saw a 55 per cent decrease quarter on quarter, with 77 sales from April to June and only 35 in the quarter ending in September.

Taranaki experienced a drop of 38 per cent, Otago fell by 28 per cent and Wellington marked a 25 per cent drop quarter on quarter.

Forced sales in the Manawatu increased by 28 per cent and the East Cape region fared the worst, jumping by 137 per cent as sales went from eight in the June quarter to 19 in the September quarter.

The total number of forced sales in the nine months to September was 1645.

Terralink managing director Mike Donald said the figures showed a trend back toward pre-2007 levels.

"The number of mortgagee sales still remains stubbornly high in comparison with pre-recession figures," he said.

"However, we are seeing an easing of volumes nationally with only a handful of regions experiencing any significant increases in the third quarter of 2012."

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- Waikato

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