John Kelly has been an estate agent for nearly four decades so when he declares he has “never seen” a housing market like the current one it certainly grabs the attention.

Mr Kelly, managing partner of west of Scotland operator Corum, talked about the housing market having “thrown up a new challenge”.

Many people trying to buy houses right now will, of course, be all too aware of the challenges, particularly those who are looking in sought-after areas with a shortage of supply.

There might be some comfort, but probably only mild if any at all, from Mr Kelly’s observation that many sellers are not going with the highest offer.

In an exclusive interview with The Herald, Mr Kelly revealed: “In 30% to 40% of cases, often as many as half the cases, people won’t go with the highest offer.”

He highlighted, in such deliberations, the need to assess any risks attached to the highest offers when forming a view on the prospects of a deal ultimately being completed.

However, the big problem for buyers is lack of supply, and those who have been looking for houses and particularly people who have been doing so for a long time will be all too aware of this reality.

Mr Kelly declared: “The market is absolutely predicated [on] high levels of demand, low levels of supply.”

He added: “The imbalance between supply and demand is manifest. I think it is probably becoming more exacerbated as we go forward.”

That will hardly be music to the ears of those looking to get on to or move up the housing ladder.

And, given this backdrop and outlook, the surge in the proportion of people buying first, while eye-catching, is perhaps not that........

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