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Yeah totally, I know a few who have bought recently but more high end to rent and not flip.
The market for the last 2/3 years has been just getting daft.
konastab01-
Theres one on my street, sold in approx Feb, fairly sure the folk/company who bought it distance and didn't actually view it. Had been not touched since the 70s, old lady that was there decorated every internal surface with a serious smoking habit, plaster blown, windows rotted out, heating system from the before times. Sold for way too much, I think they are trying to get out of it by making it 'look' as good as possible without actually fixing it.
Every day I see trades outside basically just swearing constantly on the phone 'can't be done, i'm not doing it like that, pay me now mate' sort of conversations as they are being put under pressure from this distance flipper to get this shed of a flat turned around and back on the market. Poor poor bastard who will buy that one; they've just dot and dabbed sheet over the top of every wall and ceiling in the place, then cut and fitted new socket covers.
BrickMan
Know two pretty good developers (also mates), both do a decent job (rare), both have just sat this one out and looking at their own houses/family projects instead, both say its way too hot to get in on anything as lots of have a go developers just bid each other up*
*I mean this is often the case, but never like this before.