Seasonal & Environmental Impacts
There has always been a debate about the best time of the year for selling a home. Some swear by spring, while others claim that autumn is the best season.
Whichever season you pick, your decision may be affected by your personal situation and economic factors.
This is the month for daffodils, lambs and spring cleaning, but it is also a time of positivity in the property market. Plenty of vendors see this season as a great time to sell up.
Many buyers take the opportunity to buy a house during this season so that it’s all ready and settled by the time Christmas
Because it’s a popular time to sell, spring often brings competition from other sellers.
During this season, temperatures are up, the sun is out and gardens are flourising. These factors can make any property look its best and prompt many buyers to head out and about to attend open inspections.
However, many families, couples and singles head off on holiday over Christmas time, so sales and enquiries can be on the low side.
By this time of the year, people will have settled back into their daily routines after enjoying the holiday season and will be ready to get on with life – possibly leading to a number of interested people in the market.
Whether it’s setting a new year’s resolution of buying a new home or wanting to get settled before the next school term begins, there are usually buyers out and about.
Most people think winter is a bad time to sell because people won’t want to attend open inspections in horrible weather. It’s a fair enough assumption, but not entirely accurate.
For one, if someone is planning on moving house, a bit of rain isn’t going to stop them. Plus, if these reservations cause some vendors to hold off from selling during these months, there will likely be fewer residential properties on the market at the time – giving your home a better chance.
Cash rate reductions can cause buyer confidence levels to rise. More people may think about purchasing property as a result.
Also, if the housing supply has dwindled in your suburb, there could be stronger demand for homes in your area.
The current conditions of the market can also have an influence on when you decide to sell.
For instance, a buyer’s market occurs when the supply of homes for sale outweighs the demand. In this situation,you may need to set a correct price and ensure you have a comprehensive marketing strategy in place.
On the other hand, a seller’s market is one where buyer demand exceeds the number of houses for sale. This could lead you to obtain a high sale price, due to competition among-st buyers.