Mortgagee sales beginning to ease off, says expert

Mortgagee sales in September remained on a par with August but continued a trend of falling forced sales, data shows.

Terralink International figures showed 187 forced sales nationwide during September - comparable with the 188 in August but well down on the 217 in July. Mortgagee sales peaked at 264 in May.

Terralink managing director Mike Donald said forced sales were still nearly five times higher than the pre-recession period but that there was now a clear downward trend for the first time since 2008.

"The latest figures show a slight drop on the month before but it is the overall trend which is most significant," Donald said.

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Posted: 20 Dec 2010

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