Repossessions at their lowest level since 2010!

Is this:
  1. Policy by banks not to seek re-possession
  2. Vultures controlling more of the book and more prone to make offers
  3. Forced sales (especially with rise in house prices)
  4. Fewer 'hard cases' in the system
  5. Some combination of the above

I am a bit sceptical about (4) because the ultra-long arrears cases haven't really declined.

My own guess is that (2) and (3) explain a lot