The Asset Management Group is the UK’s leading Asset Manager providing a specialist range of services regarding the management of housing assets on behalf of lenders.
AMG has witnessed a month on month increase of properties ‘under offer’ since the beginning of the year and when reviewed as a complete first quarter this shows a significant overall increase in sales activity.
Simon Matthews, managing director at AMG said; “We reported earlier in the year that activity in the housing market was on the up and these new figures for the first quarter of 2009 certainly bear this out. At the time it was not entirely clear whether the increased activity was merely a blip but it now seems that this was not the case with sustained growth throughout the quarter.
“Predictions of repossession levels this year continue to be high, but with housing stock actually being sold it suggests a positive underlying confidence and a movement of the market in the right direction. Possibly this is due to prices falling to a level where even restrictive LTV levels can be met, or perhaps it is simply the result of pure market forces whereby purchasers feel we are approaching the ‘bottom’ of the market. There certainly remains the situation that for buy-to-let investors the low price of the ‘asset’ coupled with a robust rental market will offer long term returns in excess of other investment options. Whatever the reason for the increase in sales, it must surely be seen as positive for the numerous parties within the housing market whether lenders, brokers or estate agents whose business models’ rely on transactions, transactions, transactions!”