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Originally Posted by VVC-Geeza
You didn't upset or offend me Ian and I am glad you have found somewhere that meets your needs and are now settled.I was just making the point that this 'Gazumping' happening across the UK has a knock on affect right down to basic starter homes which become out of reach for many first time buyers.You were in the fortunate position of having sold a property in the south were then able to buy something of far better value for money further north,but in other cases where people want to move locally it again pushes those properties out of their price range.Your new house would have been professionally valued by an estate agent so that should have been the asking price and no more.It would be one thing if those with the deepest pockets only fought among themselves but their actions have serious consequences all the way down to starter homes.I would bring in legislation that properties could be sold for no more than the asking price with an intention of being fair to all.
I mentioned earlier that the government have fueled this housing boom with record low interest rates and stamp duty holidays,the real culprit is the lockdowns which created so much pent up demand.
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Would that force the initial selling price up?
We put our first offer in not knowing what other offers if any there had been. The estate agent came back to us asking for our best and final offer advising he had other offers in the same area. We decided to up the offer. I dont think guzumping took place as no offer was excepted and then new offers put in... as far as I know.
We wanted to move, lockdown got in the way but you seem right, lockdown has got others moving due to lack of space, too much noise what ever and they are moving out of town.
It is difficult, I understand you and I hope you can understand where I am coming from. Your suggestion would perhaps help some but not others.
The one or both of the Channel Islands I think have a rule or at least did have a rule, could not sell to non island born people.
Estate agents, surveyors, solicitors, moving companies all coined the money in and then what about the building / DIY trade, all these people moving into houses and looking to do work to them. I have to hope that should I ever move I can recover not only the purchase price but money spent on the property
macafee2