As one of the most significant sectors of the Australian economy, the real estate market plays a pivotal role in shaping the nation’s financial landscape. Understanding its current state is essential for both buyers and sellers to navigate this ever-evolving terrain effectively.
When it comes to selling a house in Australia in 2024, timing is everything. We all know spring is the peak selling season, specifically September through November. Did you know? Recent research by real estate analyst PropTrack reveals that “November” is the optimal month for selling property in Australia. During this time, sellers secure prices 0.8 percent higher than the average throughout the year.
However, what about the rest of the year? Should you list your house now or wait for a calmer market?
Remember, timing can make or break a house sale in Australia. Don’t have nightmares about a house lingering on the market. In this blog, you will learn how to figure out the best time to sell your property.
When is the best time of year to sell a house in Australia?
Spring Season
Spring in Australia, particularly in cities like Sydney and Melbourne, is the best time to sell your house. From September to November, the weather is like a warm welcome mat, gardens are bursting with vibrant blooms, and daylight hours stretch out, creating a naturally inviting atmosphere for potential buyers.
This idyllic season naturally coincides with a surge in buyer activity, leading to a surge in price. Why? Because many families with school-aged children prioritise moving before the new school year begins. Also, this season brings beautiful blooms and sunshine, allowing your house to showcase its best exterior features.
However, is there a way to get ahead of the spring rush?
Early spring (August and September) might hold the key. By listing early, you can capture the attention of eager buyers who crave a head start before the competition explodes. There’s a downside too. The buyer pool might be slightly smaller, and unpredictable weather could impact open house attendance.
Early Summer
Early summer (Late November to early December) can also be an optimal time to sell a house. This period allows sellers to leverage the tail-end of spring’s selling season, potentially encountering less competition. With the festive season looming, some buyers may feel a sense of urgency to settle into a new home before the holidays, which can lead to a quicker sale.
Yet, as December unfolds, people’s attention might start to shift towards holiday planning and spending. If you have a particularly desirable property in an attractive location, it might still attract buyers despite the approaching holiday season.
Understanding the best and worst times to sell a property in Australia in 2024 can significantly impact your success as a seller. While early summer and spring emerge as prime periods, they offer strategic advantages and heighten buyer interest. The later months of winter and the festive season present challenges marked by reduced buyer activity and distractions.
The key takeaway? Don’t rely solely on the calendar. By factoring in expert advice on market conditions, potential interest rate fluctuations, and your personal timeline, you can identify the optimal selling window and maximise your sales.
Reference:
The Best and Worst Time to Sell a House in Australia 2024 – Dhursan Construction