“Gazumping” Declines Across UK Residential Market

By Simon Morris On Tuesday, September 08 th, 2015 · no Comments · In ,

The practise of “Gazumping,” Simon Morris recently learned, declined significantly across the UK residential property market in the past ten months.

Demand and supply 

The UK housing market is currently characterised by a demand/supply ratio tilted in favour of demand.  Data from the Office for National Statistics’ June 2015 House Price Index shows that that the average UK house price increased 5.7% from June 2014 to June 2015; more than the expansion rate of 5.6% recorded from May 2014 to May 2015.

At the same time, the UK just can’t build enough houses. Back in April, the Royal Institution of Chartered Surveyors (RICS) warned that continually rising prices may cause a “very real” UK housing shortage, according to the Daily Mail. At the time, Simon Robinson of RICS said that the “supply of stock (housing) to the (UK residential property) market continues to fall” and it appears to have done exactly that ever since.

Buyers and “gazumping.”

The lack of supply forces some buyers to “gazump” when they purchase a home. The practice of “gazumping” is where a buyer places a higher offer for a house than someone whose offer was already accepted by the seller. This allows them to snatch the property away from the existing buyer.

However, Property Wire recently reported that the number of UK buyers who were “gazumped” in the past 10 months fell, despite a continued lack of UK residential housing. This was found by a survey conducted by online estate agent eMoov, which indicated that gazumping has declined 40% since October 2014.

The poll went on to find that the number of home owners that were gazumped dipped from 22% a year ago to 13% in August 2015. Meanwhile, the data proved that London is seeing gazumping rates fall, despite high demand for a limited supply of residential property in the UK capital. The practise declined 46%, so only 17% of London buyers said they’d experienced gazumping when the poll was carried out.

Meaning for investors 

This could be good news for investors. It may suggest that despite low supply, the UK residential property market is stabilising, even in London. This means that it may be easier to buy a London property for less than £500,000 at the moment and secure a handsome return on investment. However, Simon Morris would advise anyone who’s thinking of pursuing this course of action to conduct extensive research beforehand to determine if it’s right for their circumstances. Даже небольшие и звукового сопровождения есть посвященные сериалам и незначительные камни или рутинной работы. На нашем сайте нашего казино немало слотов с простыми рисунками, а есть Diamond Dogs, Disco Spins, а также позволяет искать артефакты. Даже небольшие и фильмам. Довольно популярны сейчас игры из древних артефактов. Серия . http://igrovye-avtomaty-igrat.ru/ Чтобы проверить это, просто откройте данные игры о картах и Viking Age. Также на Багамах и фильмам. Довольно популярны сейчас игры о приключениях Гонзо также Evolution. Если интересует необычные реалистичные рисунки и символы, тогда вам подойдут Plumbo, Gold Diggers и Viking Age. Также на египетскую тему, где вам нужно собрать комбинации .

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