The property market has been booming, but despite this many sellers have been wondering if they should hold out on selling their property until the ‘spring rush”.
While it’s true that the Australian property market normally experiences a seasonal slowdown in the cooler months, this can actually sometimes work in the seller’s favour.
Look at your local market
If your local market is like much of the rest of Australia then chances are it’s a sellers market right now.
While it’s true that buyer activity can wane somewhat during the colder weather, there’s a lot of strong fundamentals in place right now, such as crazy low interest rates, that aren’t going anywhere over winter.
In fact, there are a lot of buyers with FOMO who will be checking real estate listings daily until they find the home they want, regardless of what the weather is doing.
There’s even a chance that demand will ramp up further over winter as there will undoubtedly be some sellers who choose to hold off until spring because they think it’s a better time of year to present their property, meaning that buyers may find themselves with even less housing stock to choose from than there has been in previous months, where property stock has been relatively low as is.
This means that if your home is one of the few homes available for sale then you may be able to attract a premium price tag.
Do you need to sell quickly?
If you have the time to pick and choose when you sell then you might want to wait until spring to give yourself time to get your property ready and looking its best, but if you want or need to sell right now then there’s no reason to wait.
Timing the market can be important, but what’s more important when selling is things like property presentation and having a smart marketing campaign. It’s also crucial to have a knowledgeable real estate agent in your corner to give you helpful advice that will help you get the most out of your property.
The risk of waiting
A lot of things can happen between now and spring and while it does look like the property market will remain strong in the months ahead, there’s also a chance that there could be a shift in buyer sentiment that could see property demand slow down.
The recent lockdowns in Melbourne are a good example. While they haven’t put a significant dampener on the local property market, they have shown that we are still living in a pandemic and we don’t know exactly what the future holds.
Right now however there are a lot of reasons why it’s a good time to get into the property market, including strong consumer sentiment, high buyer demand and fantastic sales results.
So, if you’re ready and wanting to sell your property then there’s no time like the present.