According to the latest figures, a lot of family homes are being put up for sale through mortgagee sales. There were 264 registered mortgagee sales in May 2010, as per Terralink International's data, which was more from 246, last month.

The type of property owners who were being forced to sell had been quite changed as per what Terralink Managing Director Mike Donald said.

He shared that many individuals are losing their only property, as a consequence of an increase in mortgagee sales of properties. The sales are owned by individuals rather than Companies or multiple owners. Last year was considered a bad year for mortgagee sales.

He said, "Most of those were property investors who had over-extended themselves during the property boom. This year the pain has shifted to ordinary New Zealand families".

Less than 50% of the families were for properties possessed by an individual in May 2009. The number has increased to 62% a year later. In the month of May, the ones who were hit badly were property owners from the Bay of Plenty, Waikato and Manawatu.

There were 21 forced sales in Manawatu, and 51 forced sales in Waikato in May. Donald added that the property owners will remain under pressure for some time.