Owners hit by tighter lending rules and higher interest rates

Mortgagee sales spike as property curbs bite into the market. There were 54 homes put up for auction in the three months to Mar 31 as mortgagee sales, a 23% increase over the last quarter and 200% increase year-on-year. Total Mortgagee sales amounted to $21.2M in the quarter, an increase of 54% on the last three months of 2014.

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