Whether it’s location or lifestyle, there are many reasons you might want to sell. But your timing may not necessarily coincide with the perfect property market conditions, so it’s important to know a few things about the market.
The real estate market changes with the seasons in Australia. Typically, spring is the most popular time to sell, with the highest numbers of sales.
But there’s a plus side to selling your home during quieter periods, like winter. With fewer properties to choose from, more potential buyers will get to see your place.
- Seller’s market: When the demand for homes is greater than the amount of homes available for sale. In a seller’s market you're more likely to sell your property quickly.
- Buyer’s market: When the number of houses available for sale is higher than the number of buyers who are looking to buy. In a buyer’s market, it’s all about being realistic about price and being patient.
Working out what the property market is doing and where it’s going can help you decide when to buy or sell. Try:
- keeping an eye on weekly property sales in your area of choice
- staying up to date with the wider economy and interest rate movements.
In order to determine the best time to sell, you’ll need to consider your personal circumstances, reasons for selling, market conditions and seasonal factors.