Property

No dispute over mortgagee figures: Helm

Reports that Terralink's data on increasing mortgagee sales is at odds with the information from realestate.co.nz are inaccurate, says realestate.co.nz chief executive Alistair Helm.

Wednesday, June 13th 2012

He said both sets of data - Terralink's showing a noticeable increase nationwide and realestate.co.nz's showing a steady decline - were correct, but were looking at different things.

Terralink was reporting sales, some of which could be properties that were notified as mortgagee sales up to nine months previously, he said.

Realestate.co.nz published the number of listings that were designated as mortgagee sales on its website every week. Agents must disclose when a sale is forced.

In 2009, there were 400 properties listed for mortgagee sale. This week, there are about 200.

He did not disagree that compared to the same quarter last year, the first quarter of 2012 had seen an significant increase in the number of mortgagee sales.  But he said that was probably linked to an increase in the number of listings at the end of 2011. SInce then, mortgagee listings had dropped significantly.

"I'm looking forward and they are looking back. They are casting a look forward by looking back over three months."

He said the number of mortgagee listings was dropping all the time. He expected them to level off at 2007's rate of about 100 at any one time. "There are always some, even when the market is good."

Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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