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Housing activity up 10 per cent says AMG
Sales of repossessed properties have increased significantly compared with this time last year according to The Asset Management Group [AMG].
AMG witnessed a 10% increase in houses ‘under offer’ in the first two months of the year. This jump returns activity levels to those last seen in 2005.
Simon Matthews, managing director at AMG said: “I think that this is a positive sign for the market and will help with the underlying confidence that there is still life in the housing market. This year the CML predicts some 75,000 repossessions which is certainly a cause for concern but at least there is activity and the stock is moving which is fundamental to a recovering market. I believe another reason for the increase in activity is that there is not a huge amount of general housing stock coming onto the market and so proportionally, repossessed homes are a higher percentage of those properties available.”
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