Mortgagee sales hit record high in March

Mortgagee sales in New Zealand hit a record 15 year high in March, figures from Terralink International show. There were 201 sales during the month, up from 42 in March 2008 and the previous record of 191 in December 2008. In February there were 124 sales. Almost half of the mortgagee sales were in the Auckland region, with 99, up from 51 in February and 76 in January. There were 15 in Wellington (up from 7 in both February and January) and 17 in Canterbury (from 17 and 11). The Northland region saw 19 sales, which was the same as in March last year, with the next highs being 12 in the Waikato and 11 in Otago. Here is a link to the report on Zoodle. Alistair Helm at realestate.co.nz explains why he thinks mortgagee sales may have peaked here.