First time home buyers being priced out

Greedy sellers are being blamed for pulling out of deals if the sale is delayed, often just days before exchange.

Lack of regulation and almost weekly rises in house prices have meant some buyers find they are let down at the last minute - only to see the house back on the market a few weeks later at a higher price.

Usually, said one of Bexhill's most prominent estate agents, the two parties involved come to some sort of agreement if the sale is delayed and prices rise substantially.

In some cases, however, unscrupulous sellers are taking advantage of the rising prices to let down their buyer, especially if it is a first time buyer without the benefit of a rising property price themselves.

"People will often blame the agents," he said. "But while we must have the best interests of our clients at heart, we have been very dismayed by the attitude of some."

One seller in particular pulled out of a sale to first time buyers from London, who had decided to move to Bexhill, change their lifestyle and their jobs, because they could not afford London house prices.

Three months after agreeing a price for a two-bedroomed town centre flat, the vendor took it off the market for the second time.

They have now to start looking for somewhere else to live at a much higher price.