> ## Content Index
> Fetch the complete content index at: https://goodoil.news/llms.txt
> Use this file to discover other available public pages before exploring further.

# Mortgagee Sales See Increase Amid Economic Strain
- URL: https://goodoil.news/mortgagee-sales-see-increase-amid-economic-strain/
- Published: 2024-07-08T20:30:00.000Z
- Updated: 2024-07-07T21:55:03.000Z
- Author: Reproduced with permission
- Tags: Economy, NZ, #wp, #wp-post, #Import 2024-07-20 04:39

**[DTNZ](https://dailytelegraph.co.nz/news/mortgagee-sales-see-increase-amid-economic-strain/?ref=goodoil.news)**

---

The rise in mortgagee sales is becoming noticeable, with a 35 per cent increase from the previous year.

Despite this, such sales constitute a small fraction of the total market. As of now, [TradeMe](https://www.trademe.co.nz/a/?ref=goodoil.news) lists 65 residential properties under mortgagee sales, less than one per cent of their total 42,000 listings. Gavin Lloyd, TradeMe’s property sales director, told [state media](https://www.rnz.co.nz/news/business/521533/mortgagee-sales-on-the-rise-as-homeowners-let-it-all-go-too-long?ref=goodoil.news) that the overall market slowdown and extended selling periods might be contributing to the uptick. Rising living costs and interest rates are pressing homeowners, yet mortgagee sales are often a last resort, indicating that many are attempting to sell proactively before facing lender action.

In Wellington, [Bayleys’](https://wellington.bayleys.co.nz/?ref=goodoil.news) Grant Henderson told state media he had seen a significant increase in mortgagee sale appraisals, shifting from three a year to three per month. This rise encompasses a broad range of sellers, from developers to individual homeowners and investors. Henderson said banks consider mortgagee sales a final measure, often after extended periods of financial difficulty and ample warnings. [CoreLogic’s](https://www.corelogic.co.nz/?ref=goodoil.news) chief property economist, Kelvin Davidson, contextualizes the current increase as modest compared to the peak during the 2009 financial crisis, highlighting a contrast with the 24 sales in the first quarter of this year against the 800 monthly sales in 2009.

This article was originally published at [Daily Telegraph New Zealand](https://dailytelegraph.co.nz/news/mortgagee-sales-see-increase-amid-economic-strain/?ref=goodoil.news).

[If you enjoyed this article please share it using the share buttons at the top or bottom of the article.](#)

[If you would like to access exclusive Member content or just remove the ads to make your reading experience more enjoyable click here to browse our Membership options.](https://thebfd.co.nz/subscription-plans/?ref=2)