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On the mid-South Coast, Moruya had the highest number of writs for possession (four) issued by the Supreme Court. However they remain unexecuted, along with one at Batemans Bay, two at Long Beach, one at Malua Bay and one at Bawley Point.

The only mid-South Coast properties repossessed during this period were at Bawley Point and Long Beach.

In NSW there were 2796 unexecuted writs issued between January and June, an 11 per cent increase on the same period last year.

NSW Attorney-General John Hatzistergos said many of these remain unexecuted because homeowners make last minute arrangements with their lenders to avoid eviction.

“With interest rates rising and mortgage repayments going up, more families are suffering under significant financial strain,” he said.

“The Supreme Court has been swamped with the number of people facing repossession proceedings and Legal Aid services have been unable to keep up.”

The figures come as no surprise to Raine and Horne principal Adam Porteous.

“When the boom was on it was like a frenzy, it was ludicrous,” he said.

“Land sales have gone through the roof over the past five years. In some cases, land that was bought for $280,000 isn’t even worth $130,000 today, but in booms there are winners and there are losers just the same as any other market.”

However, he says there is a misconception in the community that repossessed homes sell cheap.

“General consensus is that they go cheap, but not always,” he said.

“If the property is in good condition, in a good area, sometimes they can achieve good prices - which we have seen.”

In the Eurobodalla one in nearly every two properties is an investment.

Mr Porteous says this is a good thing during periods of depressed sales.

“I think in tougher times the second home is the first thing to go,” he said.

“It’s better than a family home because it’s a little more detached and doesn’t have as much emotional impact.”