The number of mortgagee sales in Tauranga in June this year is seven times higher compared to the same period in 2008.
Mortgagee sales in Tauranga in the month of June 2009 contributed to almost half the total number of mortgagee sales in the Bay of Plenty, according to figures released by property information company Terralink.

This Papamoa beach front property was purchased in a mortgagee sale earlier this year for a bargain.

In June 2009, there were seven mortgagee sales in Tauranga and 15 in total across the Bay of Plenty.
There were no Tauranga mortgagee sales in June 2008.
Mike Donald, Terralink managing director, says the Bay of Plenty mortgagee sales figures are a new historic high for the region.
'It's still going up and we expect it to rise. If you look around Tauranga and the Mount, it doesn't surprise me these areas are harder hit because there's more commercial activity going on,” says Mike.
He says mortgagee sales across New Zealand usually connected to individuals who own more than one property, or those who invested in large scale apartment developments.
Tauranga and Bay of Plenty figures are relatively small compared to the one million mortgagee sales in the US in the past year, says Mike.
'That indicates there is a lag behind in this country and mortgagee sales will continue at a high rate. We expect high numbers for another 18 months or so, then we may get back to base levels,” says Mike.
There were a total of 289 mortgagee sales across New Zealand in June this year, compared to 98 in June 2008.