Springtime has always been considered the best time to put your property on the market, but it could be the case that autumn is the ideal season to sell your home.
Why autumn is a better time to sell than spring
A good property that is priced right “will sell at any time,” asserts Brent Courtney from McGrath Lane Cove.
“I think the worst time of year to try to sell is over Christmas. But that said, I have sold a house on Christmas eve, so a good property at the right price will find buyers at any time of year,” he says.
Property Professor Peter Koulizos, author of The Property Professor’s Top Australian Suburbs, has a simple explanation behind the spring season’s perceived position as the top time to list your property.
“The football season is over, [so] more people attend weekend home opens,” he says.”Springtime is also a great time to have the garden looking wonderful, as the weather is getting better.”
The problem with selling in spring is that you are essentially following the heard. If everyone else thinks that this is a good time to sell the market will be flooded with properties, which has the effect of increasing supply and potentially dampening demand.
A recent report by RP Data revealed that the best time to sell a residential property is autumn, and Koulizos believes this makes sense for two main reasons:
“The weather is great in autumn. As we are moving from the hot and harsh summer to the milder months of March, April and May,” he says.”People are more likely to attend home opens if the weather is nice and your garden, if you have one, can look great.”
It all comes down to goal setting. Many people make New Year’s resolutions and use the start of the year as a time to act. “If they have thought about buying property for a long time but have never done anything about it, the first few months of the year will be when they are most active,” Koulizos confirms.
At the end of the day, the current state of the economy is just as important – if not more – than the season in regards to achieving a sale.
But Robert Simeon from Richardson & Wrench, Mosman Neutral Bay, has one final piece of advice for all would-be sellers to keep in mind!
“When it’s raining, anecdotally there are fewer parties attending open for inspections,” he says. “And without a doubt, the worst time to try to sell your house would be June and July, as these are the coldest months where consumer sentiment indicates very little to no interest in attending open for inspections.”
Source: Your Mortgage Magazine