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It's how the local market works. Places are effectively put on at less than their value, it's a silly system but that's how it is. If you offer the asking price on an OIEO property in E17 you will not get it. Period. Places are put on the market in the week, viewings at the weekend then sold by Monday/Tuesday. Only bad apples hang around (at least, pre-Covid). It's a bonkers mico-market and you can't compare it to most other places in London.
My property obsessed other half has done a lot of research and knows the market there very well. He is constantly scouring Rightmove and downloading the latest land registry figures. He was also the policy lead for the private rental sector and first time buyers at Shelter in a former life so is pretty well qualified on housing (he was part of the team that coined the phrase 'generation rent' and was then involved in creating the charity Generation Rent and sat on its board for a while).
I'm sure we've all had enough of these kind of experts though.
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Fox
I'd love to see the 'bids' in real time on a place like that.
Where did the bidding start? Who was the muppet who spunked all their money...