Traditionally, the property market takes a break over the holiday period with spring crowned the ultimate time to sell. This year however, is shaping up quite differently. Buoyed by record low interest rates, the market is hotter than the weather and the spring selling season is extending well into the warmer months.
Don’t just take our word for it – read on to see that when it comes to selling in summer, the pros really do outweigh the cons.
For sale: 8 Morrow Street, Gerringong, NSW
The pros
By now, you know what the market’s doing
Property prices have been making headlines all year – it’s no secret they’re soaring. Buyers are out in full force, and this demand, combined with low stock is contributing to consistently strong sale prices. Understanding what similar properties have been selling for in your area throughout the year will give you a solid indication of the price you can expect to achieve from a sale and give you confidence going into the process.
There’s less competition from the spring rush
A lot of vendors will have raced to meet the spring sale rush. By summer, there will likely be fewer homes on the market meaning not only will your property stand out, but buyers will have less choice and therefore be up against more competition when looking to purchase. Low supply coupled with strong demand will likely translate to achieving the best possible price for your property.
Added sense of urgency from hopeful buyers
There are almost certainly a significant number of buyers out there who were planning to buy this year which adds to the sense of urgency come December. Buyers may have missed out during spring and want to close in on a sale before the school year ends.
For Sale: 1769 Currumbin Creek Road, Currumbin Valley, QLD
These buyers have plenty of free time for inspections
With work commitments often easing and the stress of the year beginning to dissipate, buyers not only have more free time to browse homes but a more relaxed attitude towards buying, meaning that a decision that might otherwise take months, could take only moments.
Your property is looking as appealing as ever
There’s real low-effort appeal in summer: gardens are thriving, there’s an abundance of natural light and a little bit of spring cleaning likely has the property looking well-maintained and uncluttered. Homes with generous outdoor entertaining areas or enviable swimming pools will undoubtedly attract a myriad of excited buyers in the summer months.
If you’re on the coast, the location will really do the hard work for you
Like extensive gardens and pristine pools, homeowners who live by the beach or on the coast are in the perfect position to take advantage of a summer sale. If you live in a holiday destination, a summer sale is the perfect way to lure in an emotional buyer who falls in love with not only the property, but all the location has to offer.
For sale: 8 Cliff Drive, Kiama Downs, NSW
The cons
Like buyers, browsers have plenty of free time
Paradoxically, this one is a double edged sword. People will absolutely have more time on their hands, but those people won’t just be the serious buyers – they’ll include the nosey neighbours too. You’ll likely get a few more people out at inspections who are sussing out their options and making plans for the new year, so ensure you have the right agent who can weed out the browsers from the buyers.
People are preoccupied
With the lead-up to Christmas, people will have more time away from work, yet they might find themselves especially time-poor managing a busy social calendar or entertaining family and relatives. There’s a chance some potential buyers may be far more interested in relaxing on holiday and put off attending open homes until the new year.
For sale: 6 Hogan Street, Balgowlah Heights, NSW