In the post, an anonymous user said after four months of looking, and five unsuccessful offers, they still haven’t been able to purchase a house.
“My wife and I have just heard back that we have not been successful on our 5th house offer. Every house that we have lost out on has been purchased for way off the market valuation and RV (rateable value). This latest one specifically went for $250,000 more than the RV from last year and $100,000 more than the bank’s valuation.”
They said the demand has put them “in a difficult spot” because their bank will only lend to them based on its valuation.
“How are we expected to compete against people who are purchasing based on speculative prices in the coming years?”
“The housing market in this country is messed up, even talking to colleagues they think it’s completely normal to have two or three houses as investment properties and all…
