Mortgagee Sales in Gisborne
Despite hard times, there have not been a lot of mortgagee house sales in Gisborne recently. It looks as though some investors with apartments have been the worst hit, as guarantees on their investments have not been able to be delivered in full. Also of interest is that one lender accounted for 80% of recent mortgagee sales in Gisborne. Perhaps that was due in part to the availability of funds when the market was more buoyant . The outlook for any increase in local mortgagee sales is low. Gisborne seems to be following the national trend.
