The number of mortgagee sales in New Zealand has almost doubled since May, reflecting the growing strain on borrowers from high interest rates and falling household incomes.
Interest.co.nz’s Greg Ninness reports that 119 properties were advertised for mortgagee sale in the first week of November, up 98 percent from 60 in early May, the highest level since tracking began in 2022.
More than half of the listings (54 percent) are in Auckland, followed by Waikato (11 percent), Canterbury (9 percent), and Wellington (8 percent). Standalone houses make up the majority of mortgagee sales at 58 percent, while apartments account for only 10 percent. Vacant sections, both urban and lifestyle, represent 28 percent of the total.
Ninness notes that financial distress leading to forced sales can stem from a range of causes, but sudden income loss through redundancy or business failure appears to be the most common trigger. The rise suggests that, while inflation has eased, households remain under severe cash-flow pressure after two years of high mortgage costs.
The upward trend marks a sharp contrast with the pandemic period, when record-low interest rates and government support held mortgagee sales near zero. Today, the combination of tighter lending, high living costs, and soft property values is pushing more owners to the brink, turning what was once a rare occurrence into a growing fixture of the housing market.
Read more over at Interest.co.nz
Receive our free newsletter here
Enjoyed this story? Share it around.
Subscribe
Login
Join the discussion
5 Comments
Most Voted
StephenT
StephenT
Guest
1 day ago
About time Luxon and Willis followed Roger Douglas, Ruth Richardson and Bill English examples and stopped ‘fiddling while Rome burns’.
6
-2
Reply
Pete
Pete
Guest
10 hours ago
I get this government inherited a simply appalling mess but I am seeing no evidence if them taking it seriously with actions or breaking the shackles of the economy. They, as in Willis and her National colleagues, are maintaining the status quo Labour set, taking baby steps to try to improve things but they’re as timid as Luxons political personality.
We need to compete with other countries, must especially with Australia this stop losing good people. The Maorification thing is a total negative on this country. Apart from the very few elites getting filthy rich from it, (running their own personal political party fiefdoms as a result), It has to stop and be disentangled. It’s killing this country and driving good people away.
Otherwise, we can’t compete on salaries but we can with other measures such as lower taxes, ditch the bullshit climate change fiscal drag, deregulate areas like food and alcohol, halve fuel taxes, remove tax from fresh food, and give tax breaks to budget house building, encourage oil, all of which will make us the opposite of most Western nations and will attract good people. Make NZ fun, not s miserable semi communist republic.
We cannot carry on the way we are. And although Nicola Willis thinks fiddling whilst Rome burns is an excellent scheme, I have lost any faith in her.
4
0
Reply
Colin
Colin
Guest
Reply to
Pete
9 hours ago
Spot on
1
0
Reply
Jon
Jon
Guest
1 hour ago
Bit of a misleading summary. Interest.co.nz know that interest rates are pretty low. Those rates are not what they are claiming is behind the number of mortgagee sales, but rather it’s the high cost of living. Rates and insurance are the two big costs that have been on the increase although they also mention the high number of business failures in their article.
I would add the high cost of compliance in the rental market might make many landlords think of selling up and doing something more productive with their money.
2
0
Reply
Belinda
Belinda
Guest
22 hours ago
No one will own anything and will be happy… as the over extended and the greedy sell to the highest bidder. It’s time NZ researches the property developers and the companies hiding behind them. If I can with a serious brain injury, anybody can.
Interesting and depressing reading proving that 2/3’rds of the population are still asleep
1
-2
Reply
Read More
November 7, 2025
Europe moves toward age and ID checks for social media as France targets TikTok
Convictions could carry penalties of up to 10 years in prison and fines of €1 million.
November 7, 2025
Peters says Gene Technology Bill ‘won’t go ahead’ unless it’s fixed
“Let me tell you, if the bill can’t be fixed up, it won’t be going ahead.”
November 7, 2025
Police order retraining after false breath tests uncovered
Employment and potential criminal investigations are underway.
November 7, 2025
Was Jacinda Ardern naïve or Machiavellian? David Cohen on the question dividing New Zealand
“I eventually decided she was Machiavellian.”
November 7, 2025
Te Pāti Māori turmoil deepens as iwi leaders step in and byelections loom
The implosion continues.
November 7, 2025
NZ First swaps biological ID bill for ‘fireworks ban’ publicity push
Read the room.
NEWS STORIES
SHOW MORE
NZ First swaps biological ID bill for ‘fireworks ban’ publicity push
Read the room.
Europe moves toward age and ID checks for social media as France targets TikTok
Convictions could carry penalties of up to 10 years in prison and fines of €1 million.
Peters says Gene Technology Bill ‘won’t go ahead’ unless it’s fixed
“Let me tell you, if the bill can’t be fixed up, it won’t be going ahead.”
Police order retraining after false breath tests uncovered
Employment and potential criminal investigations are underway.
Was Jacinda Ardern naïve or Machiavellian? David Cohen on the question dividing New Zealand
“I eventually decided she was Machiavellian.”
Te Pāti Māori turmoil deepens as iwi leaders step in and byelections loom
The implosion continues.
SHOW MORE
Sign up for our free newsletter
Receive curated lists of news links and easy-to-digest summaries from independent, alternative and mainstream media about issues affect New Zealanders.
SUBSCRIBE
SHOW MORE
Is the media really ignoring Te Pāti Māori or protecting it?
The divide may not be over whether TPM’s behaviour has been chaotic, but over who has failed the public more – the party itself, or a media establishment.
GRAHAM ADAMS: Tikanga inserted into cutting-edge gene bill
“It’s incredibly difficult to get your head around what basically spiritual concepts [are doing] inside a regulatory scientific regime.”
Misogyny or mismanagement? Why Tory Whanau’s downfall split opinion
Her resignation reignited debate over whether women in politics are undone by prejudice or performance, and how far claims of harm should shape accountability.
The Press fails to disclose the politics of Paul Stevens in its ‘Trump boys’ scare story
By not mentioning Paul Stevens’ activist past, The Press turned a partisan voice into a supposed neutral authority.
How much is framing versus misinformation fuelling media distrust?
Centrist Ltd.