The property market can be unpredictable, making it a daunting place for both sellers and buyers. However, knowing the best season to sell or buy a house can give you more confidence.
In this article, we explain the pros and cons of buying or selling a property in each season of the year, so you can be informed when making your property decisions.
If you’ve been doing your research, you probably already know that spring can be the busiest time of the year for real estate. As we emerge from the winter months, conditions become more favourable for showing houses.
This means more properties up for grabs for home buyers, but this can result in stiff competition. Sellers may also take advantage of this competition by raising prices.
Spring can be beneficial for sellers, as they have the opportunity to stir up competition between other sellers through competitive pricing and negotiations. However, spring is often a buyer’s market, with supply outweighing demand - making it a good time to buy.
However, if you are wanting to put your property on the market during spring, take advantage of the spring clean and freshen up your home to make it more appealing to buyers. A bright and fresh garden will help!
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As the festive season takes over December and January, the real estate market tends to quieten down. This means that listings can decrease in this period, and buyers may have other priorities.
However, if you think the warmer weather will be favourable for selling your property, February could be the best month to sell in summer. With the holiday fever starting to die down, properties that receive ample natural lighting and breezes will likely sell well in this period. This is especially the case if your house is darker in winter, which may be less appealing to buyers.
Plus, if you are looking to sell your coastal home, this could be a great time to do it, when buyers will be looking for coastal holiday houses, either to live in themselves or rent out.
For buyers, the warm weather means that there will be more open house inspections available. If you are a buyer, make the most of this and try to view as many homes as possible.
When autumn rolls arounds, things start to cool down and the property market is no different. Auction clearance rates and prices drop and so does the number of houses on offer. This is where buyers could have an advantage. By deciding to purchase when there is less competition during autumn, potential buyers may nab their dream property at a discount.
However, if you are a seller, depending on your local area, autumn could work in your favour because there will possibly be a higher demand for houses since they are limited. This potential seller’s market can make autumn a good time of the year to put your house up for sale.
Sellers can use the cooler weather to their advantage by utilising cosy features inside like throw blankets and warm-coloured furnishings, as well as ensuring natural light is let in.
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While many of us dread the colder months of the year, it can be one of the best times for buyers to grab a bargain as winter generally sees lower auction clearance rates. If you are looking to buy a coastal home it's a good idea do it out of season in winter when there is less competition.
As a seller, this may not be the best time of the year for you. There are less buyers shopping for houses and you might feel under pressure to sell or with no choice but to lower the price of your home.
However, the winter market can be beneficial for buyers and sellers alike depending on your location. If you live further north in Australia where winters are much more mild, winter could be the time to take advantage of the reprieve from sweltering conditions and put your home on the market, or buy that dream house.
While taking into account the season is important if you’re buying or selling, remember there are other factors that will influence when you’re ready to do so. You might require a quick sale and so can’t wait for the ideal season to sell.
Or, you may be looking to buy an investment property in a suburb that hasn’t quite taken off yet, so you need to wait.
Are you looking to sell or buy? Lendi’s Home Loan Specialists can help find a loan that’s right for you. Book an appointment at a time that suits you.
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The information in this post is general in nature and should not be considered personal or financial advice. You should always seek professional advice or assistance before making any financial decisions.
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