03 Sep Spring into action
Spring is traditionally seen as the best time to put your property on the market, but those with long experience in real estate industry say there is more you should know.
Steve Meins, V Three Real Estate’s Senior Property Partner, says “spring is a time of year when people naturally review where they are at and what they are doing”, adding “there are normally more sales occurring” at this time of year.
Tom Bowden, The Advertiser Real Estate Editor, says: “Spring has always been seen as the big selling season. A lot of people hold off listing their homes for sale until spring because they want to wait for the warmer weather and leafy gardens and blossoms on trees.”
One drawback to this view is that a flood of stock comes on to the market in spring and means buyers have more choice, making it a more competitive market for the sellers.
“The same number of buyers are looking at more choice, which can mean lower prices,” Bowden says. “What we’ve seen and what the stats show, is that properties on the market over winter and autumn can even do better.”
Meins adds that “the same percentages of residential properties listed on the market for sale tend to sell, no matter what time of year it is, making waiting for spring less important than some might think.
In any case, he says the impacts of COVID-19 may skew the market in unpredictable ways this spring season.
Ruan Perera, Founder and Director of VThree Real Estate believes COVID-19 has thinned out the supply of houses coming onto the market compared to other years. “What this spring may show is those who are willing to put their properties on the market may actually be better off,” adding that COVID may mean there is pent up demand after a slower than usual year so far. “I think this spring and the remainder of this year could be a bit different,” he says. “We’ll keep our ear to the ground.”