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Spring is often considered to be the best season to sell a house, but autumn can also be a great time for a property sale.
When talking about the best season to sell a property, autumn isn’t exactly a crowd favourite.
With mild weather, gardens in full bloom and optimism often at a peak as the chill of winter fades, spring has long been favoured for real estate marketing campaigns, making it traditionally one of the busiest times for Australia’s property market.
But while spring is often considered the best time of the year to sell a property, autumn can also be a good time for a real estate sale – especially if done under the right circumstances.
Here are the top reasons why it might be a good idea to sell your home or investment property in autumn.
The Christmas frenzy is over
The arrival of autumn indicates that the Christmas frenzy is well and truly behind us.
This means that most people have returned from their respective holidays, kids have returned to school, and everyone is carrying on with the normal pace of their lives. This return to routine can also signal the shift of focus towards big life decisions, which includes buying a property.
Some prospective buyers also use their time off over the summer to plan, research the property market, get their finances in order and even make a few new year resolutions. This means that come autumn, these potential buyers know what they want, and they feel confident about their buying decisions – making them serious competitors for a property.
The more feverish selling periods such as spring also tend to attract more tyre-kickers and time-wasters to open homes, who are less likely to commit to buying a property.
Autumn will undoubtedly be the season of choice of the fabled Goldilocks – it’s not too hot, not too cold. After all, viewing properties or attending auctions or open houses in the extreme heat or the bitter cold or under a downpour is nobody’s idea of a good time.
With the hottest months of the year (December, January and February) behind us, the milder months of March, April and May can make the prospect of buying a home more appealing. The autumn season tends to bring beautiful clear skies and stable temperatures, which can make the home viewing and purchasing experience more comfortable for buyers.
The cooler temperature is a great time to show off a property’s garden and appeal to those who want a beautiful backyard in their property.
At the heart of it, buying a property is an emotional affair, and sellers need to tug on all the heartstrings they can to close a sale. What other season can better evoke a nostalgic and cosy ambience like autumn can? While spring is synonymous with flowers blooming, autumn is a time of year when trees offer rich and colourful foliage that is unique to the season, as well as beautiful scents that may just get buyers to seal the deal.
Higher chance of landing a buyer
Most experts believe that the best time to sell is when demand exceeds supply.
In autumn, demand is likely higher, as there will likely be fewer properties up for sale during the season.
Fewer houses on the market mean that there will be more eyes on the proverbial prize, which in this scenario is your property. A bidding match can also start between potential buyers, which can help you secure a competitive price.
Fewer properties to compete with
During spring and summer, the market can become flooded with properties, which – depending on market conditions – can create what is called “buyer’s market”, which occurs when supply exceeds demand.
To put it another way, a buyer’s market is when real estate stock is high, and there are plenty of properties for sale, but there’s a shortage of interested buyers. These conditions give buyers leverage over sellers because when supply is higher and demand is lower, the market is forced to respond (usually by lowering prices).
Sometimes, when there are fewer properties on the market, sellers have less competition and the odds of converting a listing into a successful sale can be higher. In autumn, there are usually fewer properties to compete with on the market than in spring, which gives a seller’s property a stronger chance of securing a buyer.
Top tips to consider when selling your property in autumn
If you decide to sell your property in autumn, here are our top tips on doing it:
Disclaimer: The information provided in the article is general and should not be perceived as personalised investing advice. It is highly recommended to consult with financial advice from a suitably qualified adviser.
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