NZ mortgagee sales hit record high -

NZ mortgagee sales hit record high - life in "the brave new world" of a John key government...

Terralink International says mortgagee sales in New Zealand have hit an all time high for the month of june, 298 and rising

Mortgagee sales have hit an historic high, with numbers almost tripling since the same time last year.

Terralink International has released figures for registered mortgagee sales in June. It says there were 289 of them - against 98 registered sales in June 2008.

Managing Director Mike Donald says Queenstown, Hawkes Bay, Manawatu, Taranaki and Northland have been hardest hit. He says it is probably due to the recession starting to bite, with job losses and small businesses not generating enough for the owner to pay their mortgage.

Mike Donald expects mortgagee sales will continue to rise.




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