When Really is the Best Time to Sell?
The debate around the best time of year to sell is just as likely to continue raging as spring is sure to follow winter.
Most people would agree that the warmer months are the best time for selling a house. Yet is that just an assumption? For one, plenty of places in Australia barely cool down enough for winter to really be considered winter, and even in the ones that do, there are still some excellent reasons why the chilly months don’t deserve their bad rep.
When the warm weather comes out, the belief goes that the buyers come out too. While this may be true, it’s certainly not the case when countless families, couples and singles head away on holiday over the festive season.
In December 2012 and January 2013 the Sydney Morning Herald reported the total number of auctions had dropped to just 1,110 and 217 respectively with a 61 per cent clearance rate. When numbers of auctions can often reach up to the 2,000 mark, these numbers pale in comparison.
The general reasoning behind winter traditionally being a bad time to sell is that some people won’t want to come out into the cold to traipse around half a dozen properties on a rainy and cold weekend. It’s a fair enough assumption, if not entirely accurate.
For one, if someone is planning on moving house, a bit of rain isn’t going to stop them. There’s also the fact that if vendors hold off from selling during these months, it might be more likely that there will be fewer residential properties on the market at the time – giving your home a better chance.
For example, an article from news.com.au highlighted the fact that early June 2013 saw the second largest auction week of the year in Queensland with 337 homes going under the hammer.
This is the month for daffodils, lambs and spring cleaning but it is also a time of positivity in the property market. Plenty of vendors see this season as a great time to sell up.
Earlier this year the Sydney Morning Herald reported that April and September shared the highest number of auctions in 2012 with over 2,200 each, but that September had the highest clearance rates of the year.
Autumn, with its mild temperatures and only easter to disturb the regular swing of the property market, is as good a time as any to sell up.
In a recent release from RP Data, combined capital city auction rates for the first quarter of 2013 was running high at 63.3 per cent.