Estate agent Aston Chase, which acted as joint sole agent with Arlington Residential, told Yahoo Finance UK that this is the “latest evidence of a frenzy in the housing market driven by pent-up demand.”

“The appetite for family houses in North West London is often underestimated by people who feel that the events of the past 12 months have suppressed the sales market,” said Marc Schneiderman, director of Arlington Residential.

Check out the full article here: A bidding war between three families has lead to a large, dilapidated house in London’s St. John’s Wood selling for £6.25m ($8.6m), which is £500,000 more than the asking price.