There’s a common misconception that spring is the busiest time of year in the industry. Whether you’re thinking about buying or selling, it’s worth looking into whether or not there are any differences between the seasons.
It’s possible to conduct a favourable real estate transaction at any time of year, provided that you take the particulars of the season into account along with the other factors such as economic and market conditions, as well as your own personal situation.
December to February
During December and January most Australians wind down for the school holidays and Christmas/New Year period. Many are travelling on holidays; solicitors, tradespeople and the like tend to close doors, so the market slows down. This is unless you are selling in a tourist or holiday area. In considering the above, February becomes an excellent time to market your property. Buyers always need to buy property, so with the lack of property available to purchase over the December/January period, those new properties on the market in February can benefit from a considerable pent-up demand.
March to May
As with February, there are still many buyers looking to purchase before the colder months come on. You also have the advantage of lingering sunshine and buyers who are ready to move. The Easter weekend is the longest public holiday weekend of the year and should be avoided when considering the timing for marketing your property.
June to August
It is often misunderstood that winter is not a good time to sell. During winter, the sun is at a lower angle in the sky and this can show off a home in quite an incredible way with loads of sun and natural lighting. With fewer properties on the market for sale, winter can present an ideal opportunity for sellers. The simple rule of supply and demand can mean more buyers competing for each property for sale, resulting in a healthy sales price.
September to November
The property market starts to warm up like clockwork each year in spring. Buyers benefit from a wider range of properties than in winter, while sellers benefit from higher turnouts at open for inspections. The downside is there is a possibility that the market can become flooded and buyers find themselves with more property to choose from.