When Joe Raynes decided this year to move from his one-bedroom flat in central Bristol to something larger, he had no problems selling. His home — the first he had owned — went on the market in April, and was snapped up within a week.
But buying something new presented an altogether greater challenge. Looking for places with outside space for up to ￡260,000, he found viewings of homes were booked within a day of being marketed. Making an offer on one, he discovered he was competing with bids from 18 other people.
In this competitive situation, price rises were rapid and dramatic. “Two years ago I wouldn’t have thought about even paying the asking price. Now they’re going for ￡20,000 to ￡30,000 over the asking price.”
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