An 89 per cent increase in the number of mortgagee sales across the Bay of Plenty in July is contributing to record sales across the country, according to Terralink property information agency.
There were 321 mortgagee sales recorded by the agency across New Zealand in July, the highest number since records began 15 years ago.

There were 17 mortgagee sales across the Bay of Plenty in July, an 89 per cent increase on July 2008.
Each month this year the total has outstripped the prior year by more than 100 per cent and completely dwarfs the 2007 figures, reports Terralink.
Terralink managing director Mike Donald says investment property is driving the record levels.