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LSL predicts ‘sustained market improvement’ for 2013

  • 16/05/2013
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LSL predicts ‘sustained market improvement’ for 2013
LSL Property Services expects increased activity in the housing market over 2013 despite a slow start to the year, its interim management statement announced.

Profits were down for most of the group’s sectors in the first quarter and the board had planned for a flat market in 2013.

However, signs of market recovery, combined with the government’s announcement of Help to Buy, have led the board to feel ‘cautiously optimistic’ of a sustained improvement in market volumes from the second quarter of the year.

LSL group chief executive Simon Embley (pictured) said: “Activity levels were constrained in line with the market during the first quarter but have since picked up considerably with underlying group revenue in the post Easter period up 7% year on year.

“The group is well positioned to benefit from its significant operational gearing if market volumes continue to improve.”

Surveying activity increased after Easter with underlying revenue for April up 8% year-on-year. The estate agency division saw a significant increase in activity levels since mid-April.

As a result of the more positive outlook, the board has expanded its plans to include further investment in the surveying as well as estate agency divisions.

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