Mortgagee listings surge to new record and rental listings jump

Mortgagee listings on realestate.co.nz and trademe.co.nz surged 10.6% to a record 489 in the week to November 10 from the previous week, and are up 25.1% from a month ago, our weekly survey has found.

Listings for residential rental property also rose significantly in the last week, with our index of listings on both sites rising 2.9% in the last week and being 6.3% higher than a month ago.

There may be some seasonality to this as students finish their academic years and move out, but the growth has been significant and suggests some rental property vendors are taking property off the sales market and putting them back onto the rental market.

Overall sales listings rose only 0.8% to 110,017 on both sites and is up 2.9% from a month ago.

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: 11 Nov 2008

News articles