Record number of homes attracting three offers or more
1 May 2021 • 5:00am
This flat in London, marketed by Chestertons, had 25 viewings in four days, 11 offers and sold for 17pc over its asking price
Credit: Martin Giddings
An acute shortage of properties is prompting desperate homebuyers to gazump, panic buy and bid 20pc over the asking price in a market that agents describe as “cut-throat”.
The share of homes that attracted three or more offers hit 41pc in April, the highest figure since the data was first compiled in 2010, according to Hamptons International estate agents.
The average home attracted an offer within 17 days of being listed in April, compared with 26 days in April 2019. The result is a panicked market. Thea Carroll, a buying agent, said: “Gazumping is back, in full force.”
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