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For the first time since the beginning of the recession, mortgagee sales are on the decline.
The number of forced sales in August dropped from the record high set in July, according to Terralink figures out this morning.
There were 241 of them, still well ahead of the 100 forced sales a year before.
The fall is most noticeable in the Auckland Region, which had 42 fewer forced sales in the month.
Terralink Managing Director Mike Donald says it is a positive sign for the rest of the country.
He says the figures reflect the fact development companies caught up in failed investments are starting to come out of the recession.
Donald also says while the sales are declining, numbers are expected to remain high for some time.
He suggests it's a good time for people looking at getting into the property market.
