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Fewer homes are being repossessed in 2010

23/08/2010

Court orders for the repossession of mortgaged houses and flats are down from numbers experienced in 2008. In Victoria they dropped to two-thirds of the numbers seen during the global financial crisis, with 1906 Supreme Court repossession applications in the last financial year, compared with 3080 the previous year. In NSW there were 571 Supreme Court applications begun in the June quarter. In 2009 in Victoria 321 people were evicted, while 500 lost their homes the year before.

Source: The Age



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