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Is gazumping making a comeback?

Gazumping is a word which has been relatively innocuous over the last 18 months as the UK economy and the UK property sector took fright at the credit crunch. However, there were signs last month that gazumping is making a comeback and may well have pushed prices higher to the excitement of many analysts and investors. So what is actually going on?

While interestingly it may seem as though the UK property market is on the verge of a recovery this is probably not the case. Initial suggestions hinted at a recovery in prices last month, which is factually correct, but in many cases this was because of a lack of properties on the market and more buyers. This is where gazumping made a comeback and pushed prices in certain areas of the country higher than maybe they should have been.

The slow increase in liquidity in the UK mortgage market has seen more investors looking towards property although it only takes a small number of properties to be introduced to market to take the steam out of price rises. The next couple of months will be vital to the future direction of the UK property market and many are concerned that last month's rise may well have been just a blip.

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