CoreLogic data shows that spring sees an increase of 23.9% in new property listings across the country.
Spring increase in property listings (CoreLogic)
Nationwide: 23.9%
Capital cities: 27.1%
Regional: 18.7%
As the weather begins to warm up sellers start to prepare their properties for sale.
Spring is historically a good time to sell the property as the weather is warmer, the grass is greener, and people start to get out and about a bit more hibernating for the winter.
Buyers are generally more inclined to visit open houses when the weather is nice and not rainy or miserable.
Many other factors can be attributed to higher sales in the spring market. Here are just a few you might not have considered:
Sport
How can you link sport to house sales? Australians love sports, whether it is playing sports or attending sports matches and this consumes large parts of the weekend. Two of the most followed professional leagues are the AFL and NRL, which both end their seasons in Spring. This sees buyers with much more time to attend inspections and research property.
Christmas Lunch
Aussies love a get-together and Christmas Lunch has got to be one of the biggest each year. Whether it’s a new holiday house or new owner-occupied property, buying in spring lets settlements occur before Christmas and allows for that family gathering to occur in your new home.
Although it has been an unpredictable two years with the COVID-19 pandemic, spring selling season is likely to return as we are now out of the rolling lockdowns of 2020-2021.
The positives of selling a property in spring include:
Increased market activity
Livelier auctions
Properties typically sell faster and for more
As there are more properties on the market in spring investors will be spoilt for choice in terms of options but there are some important factors to consider to ensure you are entering the right market:
Are you buying in a market that is oversupplied with the property?
What are the vacancy rates?
Are you able to secure strong rental yields?
At Meridian Australia, we take an analytical approach to identifying all of the above and more, assisting you to make informed decisions when selecting your next investment property.
Tim Davis - Property Investment Consultant at Meridian Australia
P: (02) 9939 3249
Disclaimer: When considering purchasing a property, it's always prudent to seek the advice of an appropriately qualified professional to determine which strategy is most appropriate for your circumstance.
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