From the latest figures from Terralink International it was seen that the mortgagee sales for February were on a same level as that of the recession 12 months ago.

In February 2010, it was noted that there were 121 registered mortgage sales, whereas last year in February there were 124 sales.

It was told by Mike Donald who is Terralink Managing Director that the decline in forced sales between the months of January and February followed a seasonal pattern.

"Historically we see a dip in February followed by a rise in March and it looks like it will be the same this year. Preliminary figures for March indicate numbers will rise again from February", said Mike Donald.

He also mentioned that in February 2009 there were 124 mortgagee sales and it was the time of the height of the economic downturn. He added that the recession was not yet over in the housing market.