Sealed Bids Make a Comeback, Nelsons Estate Agents London Confirm


At present (and in many opinions for a long time to come), sealed bids are becoming very much the norm in the London property market because of the severe shortage of stock “for sale” and the fierce competition for what they can get. One example which emphasises the situation, is of a rather nondescript three bedroomer which needed quite a bit of refurbishment, but was close to a good school and public transport and the demand was so high, due to sealed bids, it sold for well over the £1 million asking price. I ask you, for a THREE bedroom house in that bracket?


  In this blog we mentioned before, we do not want to create the impression of 'Government bashing', but how are they going to explain to their children's children, one day when these 'help-to-buy-at-all-cost' schemes blow up in their faces and crashes the property market totally?            

You do not have to be an economist to query the wisdom of these moves which are implemented to give not only real estate, but the whole economy a face lift with an artificial overpowering demand for property which in turn inflates prices, which in turn ups the ante for stock, which inflates the prices, which in turn - - - how bloody far and how long must this farce go on? While “un” qualified buyers are allowed to create this over-demand.

 Never-u-mind, ask any estate agent in London, this may have been good times to be in the property market, who does not want a steady even growing demand, but simultaneously there are so many fly by night “entrepreneurs” who enter the market making it even more difficult for the legitimate estate agents in Islington, Shoreditch, Bethnal Green and everywhere else, because of the shortage combined by the freebooters and their shenanigans.
In general it seems the one-bedroom properties around the £550,000 price for first-time buyer, or the buy to rent investors are seeing a flurry of buyers and the sealed bids process is probably the fairest way of letting buyers indicate what they are prepared to pay for a property, without the situation getting even worse with potential buyers haggling over what is fair (to them anyway).
There seems to exist a conundrum within itself, in the fact that neither domestic nor foreign buyers are put off by high prices, they have been encouraged by the performance of the market, which has suffered little impact from the wider economic slowdown, which again and again allows this artificial run of artificial price increases to keep escalating, artificially. This last stupid sentence was artificially created to suite the circumstance and is not intended to reflect on estate agents in London anywhere.


Asking prices for homes have risen to a record high, up on last month, which in turn was an all time record, all due to human nature, “I dare not loose out, if everyone buys a house, I have to buy one too, I must go and find a house to buy straight away” which again leads to an artificial further increase in demand, which when there are no more ready built houses, there will have to be houses built, which leads to the higher demand for people who can build those house, that will be the bricklayers and when those bricklayers are employed to build the houses, then the demand for bricks go through the roof as well. Now.
Rightmove director Miles Shipside said: “The Help to Buy scheme has created a marked upturn in the new-build market.”  That has led to some developers running out of bricks and orders going on waiting lists, which AGAIN increases the artificial psychological demand for more, “because there is none and only God knows how long this shortage may last and how long before I will get my house if I don't get in on the act and demand a house right now!!!!” and we have another house hunter on the waiting list. Be calm, take it easy, or join the maelstrom and, Good hunting.