Mortgagee house sales increased 25 percent to 251 properties last month, the highest number of forced sales in the 15 years the figures have been recorded.
Data released today by Terralink International suggested 4 percent -- one in 25 -- houses sold last month were forced sales, Terralink managing director Mike Donald said.
"Every month, the line of the graph just keeps climbing. The fact that 4 percent of house sales are now mortgagee sales shows just how much the real estate market has changed and how Kiwis are being hit hard by the recession."
Auckland was the hardest hit region, accounting for nearly half of all registered mortgagee sales, with Southland the least affected region.
"There have been lots of anecdotal stories of forced sales but these figures prove how widespread mortgagee sales actually are," Mr Donald said.
One hundred and forty-five of the 251 properties sold were owned by private owners, and 60 percent of those owned more than one property.
