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Widespread rental “gazumping” has hit London for the first time as desperate tenants fight to secure homes.
Rents have soared by up to 35 per cent this year, with as many as one in four landlords asking for sealed bids from applicants, according to one agent.
The unprecedented situation is being driven by the City's revival, huge numbers of students seeking accommodation and the death of 100 per cent mortgages — forcing young professionals to delay buying their first home.