PHOTO: Megan Whiting put three offers on three houses in one weekend and systematically got rejected from all three. (Supplied)
The Queensland housing market is so hot 90 days doesn’t leave you enough time to buy back in when you sell.
Key points:
- Some buyers have had to settle for less when property hunting
- Core Logic latest data shows nationally the average home had jumped $103,000 in value in just one year
- Real Estate Institute of Queensland CEO says it was the toughest market she had ever seen
That depressing reality is stressing out teacher Megan Whiting as she and her partner spend every weekday hunting down real estate and every weekend going to open homes after selling a Murrumba Downs property in March.
“It went under offer within 24 hours and we agreed on a three-month settlement thinking that would be more than enough time to buy a house,” she said.
“We have seen hundreds of houses and made offers on 15, but our success rate is zero, zip, we have not got one.”
“We put three offers on three houses in one weekend and systematically got rejected from all three,” Ms Whiting said.
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“We got really close sometimes, we actually offered more money than what they took in the end, but the conditions I suppose with a 90-day settlement didn’t get us across the line.
“Because the market is so hot, vendors are picking quicker options.”
“I track all the houses we go to and when they sell I see what they are selling for and they are often way over what they’re valued at.
“In the time we’ve been looking we have seen up to $200,000 added to the same houses in same street.”
READ MORE VIA ABC
