Mortgagee sales still on the rise

The squeeze is still on many homeowners who are overburdened with debt and cannot meet their commitments.

More and more houses are coming up for mortgagee sales, in the figures which emerge from research compiled by a banking and finance website which keeps a count of online listings.

Mortgagee listings on Trade Me.co.nz and realestate.co.nz jumped 8.7 per cent to a record 551 in the last week, according to interest.co.nz data.

This brings the increase in listings in the last 4 weeks to 54 per cent and shows activity building quickly in this stressed part of the market.

Listings have risen in both Auckland and nationally.

This increase in recent weeks has lifted the percentage of mortgagee listings to 0.5 per cent of total listings for the first time.

- INTEREST.CO.NZ