Mortgagee listings dip, but rental listings surging

Mortgagee sales listings on trademe.co.nz and realestate.co.nz dipped back to a one month low of 469 or 0.42% of total listings in the week ending this morning, a weekly survey by interest.co.nz shows.

The biggest drop in mortgagee sales listings happened outside of Auckland and for listings on realestate.co.nz.

Meanwhile, the number of rental property listings on both sites surged to a record high (since we started the survey in March) as the university year ended and students moved out of flats in the major cities.

Total rental listings on both sites rose to 19,975 from 19,591 last week and is up from 17,627 a month ago.

Rents continue to be flat or slightly lower in most cities, according to data from the Department of Building and Housing’s Tenancy Services division. We’ll have rental data for November later this week.

This article has kindly been republished courtesy of interest.co.nz.  To view this article and other news updates from interest.co.nz click here.

Posted: 2 Dec 2008

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