Listings for mortgagee sales on trademe and realestate.co.nz edged up to a record high 616 in the last week from 606 last Monday, our survey of these websites found. This is more than treble the levels seen when we started the survey in March last year. The proportion of mortgagee listings as a percentage of total listings rose to 0.57% from 0.56% as the total listings on both sites fell marginally to 107,647. Our 'stress' index, which measures the proportion of listings that use the phrases 'motivated', 'desperate', 'urgent' and 'must sell' is near record highs at around 6.2% of all listings. Mortgagee listings in Auckland fell slightly to 322 from 325 the previous week, meaning the growth in listings in the last week came from outside Auckland. * This article was first published in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.
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