The number of mortgagee sales in New Zealand fell to a four-year low last year.
In the last quarter of 2012, there were 461 mortgagee sales, 11 per cent down from the previous quarter and 24 per cent less than the same quarter the year before, according to statistics released today by Terralink International.
For the full year, there were 2,106 forced sales, the lowest since 2008 and a full 30 per cent less than at the depths of the recession in 2009.
Those who owned between two and five properties make up 31 per cent of all mortgagee sales, with those owning just one property accounting for 15 per cent.
Terralink managing director Mike Donald said the downward trend had started in mid 2012. He said there was some regional variation in the mortgagee sales stats, with the Auckland number falling 26 per cent in the quarter, while other parts of New Zealand - including Marlborough, Taranaki, Waikato, Canterbury, Nelson and Bay of Plenty saw increases.