Considerably more properties to take a the mass

Analysts expect to have more homes to go beneath hammer this current year, amid a good weaker rental market, tough business environment and job cuts in some industries.

There have been 154 auction listings so far this year, of which about 45 per cent or 70 units were mortgagee listings. The other 84 units were owner listings.

Mortgagee listings occur when a bank puts a property up for auction after its owner defaults on servicing the home loan.

Borrowers who are holding on to multiple properties could be facing more pressures, said a consultant.

Auctions are fast becoming a popular mode of sale as they provide wider exposure for sellers.

More properties are expected to come up in the market; not just within the residential sector but in all sectors including factories, offices, retail units, shophouses.