Tips for selling your Perth investment property in Spring and Summer
Our clients who hold investment properties in Perth often ask us when is the best time to sell an investment property. The short version: properties can be sold at any time that best suits you as long as you have the right property management and real estate agent to make the most of seasonal advantages.
Blogger: Jarrad Mahon, Investors Edge Real Estate
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However, if you were to ask when is the most popular time to sell investment properties in the Perth market, we would have to say “Spring.” More specifically, we would have to tell you that November has seen the most listings in 4 of the last 5 years and is on track to make it 5 out of the last 6.
Why Spring and Summer
Spring is a lively season and the market reflects that. Spring is the most positive of seasons; this seems to make it a lot easier and smoother to sell an investment property. As spring extends into summer, prospective buyers in the Perth area who entered the market in spring but didn't find what they were looking for are still in the market.
Winter is traditionally slow and with the inactivity there seems to be what is often called “pent-up demand” on the part of the market to both buy and sell properties as we come into Spring. As the grey of winter transitions to the beautiful colours of spring, attitudes seem to change and the atmosphere seems to be more conducive to buying.
The numbers also say that Spring is very popular months for buying property. Many real estate professionals report selling as many as 20% more properties in the spring than in any other season.
How to Take Advantage of the Hot Spring Market
Tend Your Garden
Spring is the best time to spruce up the garden in your investment property, especially in Perth suburbs with larger properties. Colour is a big part of what makes spring so positive and uplifting. Nothing says “colour” like a well-maintained garden with a lot of bright colours.
Even the smallest touches can sometimes make a big difference in the presentation of your investment property. Cleaning up dead leaves and other debris is a way to instantly make your property more attractive. Updating old garden furniture can add more value in the eyes of the buyer than you spend on the furniture. Potted plants can add a lot of colour to your garden plus you can take them with you!
Spring is also a great time to prune branches that overhang your house or block your windows. It is also the best time to ensure that all of your curtains and blinds are open during inspections to take advantage of the wonderful spring light and the view to your well presented garden.
It is essential to have an agent who specialises in investment property and will market your property in a way that will bring you maximum revenue in minimum time. At Investors Edge, we can easily transition from property management into marketing your Perth property for sale.
We can handle every aspect of marketing your investment property to make sure that it is seen by as many qualified buyers as possible. We then ensure that you are able to command the highest possible price for your Perth property by presenting it in a way that turns prospective buyers into buyers.
Year's End: Hope Springs Eternal
Another factor is that people are more optimistic at the beginning of a new year. In addition, most people want to make the coming year better than the last year. For many of them, a change of scenery is just what the doctor ordered.
November is a bit late for a house to close in time for Christmas, but November through January are great times for houses to close in time for buyers to feel that they are improving their situation for the new year.
Transitioning Into Summer
If you have an investment property with air conditioning and a swimming pool, it looks very good to buyers in the summer. If you don't have air conditioning on any investment property in a climate like that of Perth, you should consider installing one as soon as you can possibly afford it. While most investors would never install a pool on a rental property, if you happen to have one it’s best to help your tenants get it looking absolutely sparkling.
About Jarrad Mahon
Jarrad is the director of Investors Edge Real Estate.
Jarrad thrives on helping hundreds of investors every year formulate a clear plan to get the best returns from their Perth property. This requires a carefully thought out and innovative approach to understand your situation and help you to make the right move at the right time.
His renowned personalised "Property Success Plan" takes you step by step through how to make thousands of extra dollars and avoid the costly mistakes that Jarrad has learnt the hard way by investing himself all around Australia.
Over the last five years he has used his engineering background to build and refine a unique property management, sales & investing process that is sure to impress while getting you real results.
A sales and marketing expert, Jarrad combines the latest technology and cutting edge sales strategies to sell homes across the whole of Perth metro area.
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