19 Dec 2010

Forced sales of homes falling

2:39 pm on 19 December 2010

New figures show the number of forced sales of houses and other properties is falling.

Statistics from the research company Terralink show there were 187 forced sales in September, compared with 188 in August and 217 in July.

Terralink says the number of such sales is declining, but remains nearly five times higher than before the global financial crisis began at the end of 2007.

The agency says the percentage of owner occupiers being forced from their homes is growing, compared with property investors, whose mortgage problems are easing.

While the effects of the recession seem to be waning, Terralink says ordinary people are still at risk of losing their home.