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PROUDLY KIWI OWNED & OPERATED | EST. 2015 Haruru taonga - Aotearoa
#1 FOR PROPERTY NEWS AGGREGATION | aɡrɪˈɡeɪʃ(ə)n/ Haruru taonga - Aotearoa

Don’t buy into the housing hype: Half of those who recently moved say they regret paying too much!

housing hype

PHOTO: Property frenzy: Research by Aviva last week found that nearly a quarter of home buyers paid over the asking price during the pandemic

  • Nearly a quarter of home buyers paid over the asking price during the pandemic 
  • A recent survey reveals that half of UK home buyers regret how much they paid
  • Nine in ten say they had found problems they hadn’t noticed during viewings
  • Many buyers rushed ahead with purchases after only seeing the property once 
  • Others didn’t visit at all, relying instead on video viewings and photos 

Mother of one Lina Slater was dreaming of a home with more downstairs space, a garage and a drive. But she was in no rush to move.

After just one viewing, however, she and husband Paul, 42, realised how greatly they had underestimated the property market.

Houses were flying off the market and viewings were filled up with dozens of potential buyers — many willing to go well above the asking price.

Lina, who works in marketing, says: ‘People were going crazy — especially for houses in our area. We suddenly felt this sense of urgency. We made the decision to go and we just had to leap.’

The couple, from Hertfordshire, put in an offer for one house — which Lina admits needed some work doing — at £7,000 above the asking price.

But they were outbid at the 11th hour by a buyer who offered £30,000 more.

In the end, they found a four-bedroom property which they bought for £10,000 over the asking price. But now Lina, 41, is questioning whether they did the right thing. And she’s not alone.

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