Decline in mortgagee sales indicates strong economy

  • A downward trend in mortgagee sales for the Top of the South is good news for the economy, an economist says.

The latest figures from property analytics company CoreLogic show there have been four mortgagee sales in the Marlborough, Nelson and Tasman area this year.

ANZ chief economist Cameron Bagrie said mortgagee sales were economic indicators which gave a delayed impression of the state of the economy.

“By the time you start seeing more stress-related sales, be it commercial or things like dairy farms, the economic picture will be about 12-months-old,” he said.

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Decline

MARK CORNELL/FAIRFAX NZ
The number of mortgagee sales can indicate how well an economy is performing.

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