The property market is a daunting place for both sellers and buyers because the results can be unpredictable. If you are about to buy or sell a property and require a little bit of guidance, don’t worry, because we’ve broken down each season, letting you in on the pros and cons of each.
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If you’ve been doing your research, we probably don’t need to tell you that spring can be the busiest time of the year. For a buyer, that means more properties up for grabs and more listings available. Spring is also beneficial for a seller, as they have the opportunity to stir up competition amongst other sellers through competitive pricing and negotiations.
On the other hand, as there are multiple properties on sale during the spring, it also means that there will be stiffer competition amongst buyers. Plus, sellers might take the chance to raise the price and buyers may be forced to fork out more than they planned to in order to seal the deal.
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If you are looking to sell your home, take advantage of the warmer weather and do it in summer. Plus, if you are looking to sell your coastal home, this is the perfect time to do it, when buyers will be looking for that perfect coastal, summer home.
It has been noted that properties appear more desirable due to the fact that the house will appear more lighter and warmer. Brightly coloured flowers and greenery also come into full effect in the summer, leading a home to look fresh and vibrant. For a buyer, this also means that there will be more open house inspections available. So if you are a buyer, take advantage of this and try to view as many homes as possible.
Again, this season also means that there will be a higher level of competition amongst buyers who are looking for their dream home. However, do not let this deter you. As we said before, the warmer weather means more properties on offer and more listings.
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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 the buyer has an advantage. By deciding to purchase when there is less competition during autumn, you could potentially nab your dream property at a discount.
However, if you are a seller, depending on your location and suburb, autumn could work to your favour due to the fact that there is possibly going to be a higher demand for houses since they are limited. During autumn, the leaves change colour and there are fresher fragrances in the air. This will make your garden appear more warmer and homey to potential buyers.
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While many of us dread the coldest season of the year, it is actually one of the best times for buyers to grab a bargain as it generally sees lower auction clearance rates. If you are looking to buy a coastal home it's best to 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 yourself feeling under pressure to sell or with no choice but to lower the price of your home.
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