More home owners are losing their properties in mortgagee sales, as banks tighten their credit policies.
Figures from the property and land information agency Terralink, show there were 246 mortgagee sales in April, compared with 250 in the same month a year ago, at the height of the recession.
While the number of forced sales is similar to a year ago, Terralink says the type of properties has changed.
Previously it was property developers and investors with multiple properties who were forced to sell.
But most mortgagee sales now involve home owners with only one property.
With interest rates and GST rising, Terralink expects the rate of mortgagee sales to remain high for some time.
