WEEKEND PAPERS: Gazumping has hit a six-year high, according to research by Countrywide which shows the number of offers initially accepted on a property and then rejected in favour of a higher bid by a separate party is at 3.6%, up from 2.4% in 2011.
There’s a lack of properties on the market and there’s a lot of competition for the nice ones, Countrywide’s chief economist, Fionnuala Earley, said.
A survey by emoov.co.uk backs up Countrywide’s research. It found that 36% of people it surveyed had been gazumped, against 13% last year.
