Selling Your Home in Australia The Best and Worst Time of Year Revealed

Introduction

When it comes to selling your home in Australia, timing can make a significant difference in the price you can achieve. A new report by PropTrack reveals the best and worst time of year to sell your house in Brisbane. The data shows that homeowners who list their properties in October and November tend to reap higher returns compared to other months. This article will delve into the findings of the report and provide valuable insights for homeowners looking to sell their properties.

The Best Time to Sell: October and November

According to the PropTrack Market Insight Report, homeowners in Brisbane who sell their properties in October and November enjoy higher returns compared to other months. The analysis of selling prices from 2013 to 2022 shows that properties sold in October achieve prices that are 0.52% higher than the average. This translates to approximately $4,000 in higher returns for sellers of a typical house priced at $750,000.

Moreover, properties sold in November see an additional gain of 0.25% for vendors. Buyers rush to snag their dream homes in time for Christmas, creating a sense of urgency and driving up prices. Nationally, sale prices were 0.8% higher for properties changing hands in November.

The Impact of Seasonality

The findings of the report are consistent with most markets around the country. They coincide with the peak of the traditional spring selling season when buyers are actively looking for properties. Spring is a great time to showcase your property, as the sun is out, and the gardens are in full bloom. Buyers are more committed during this time of year, with a positive deadline to buy before Christmas.

On the other hand, the winter months of June and July tend to have the lowest sale prices. Vendors experience a decrease in prices by approximately 0.9%. In Brisbane, owners see a 0.54% cut in June. The start of the calendar year’s selling season over February and March also corresponds to seasonally higher prices.

Positive Outlook for Sellers

PropTrack economist Paul Ryan predicts ongoing price growth combined with a seasonal boost will benefit many sellers over the next few months. Home prices in Australia are already back at their peak after nine months of consecutive growth. With the spring selling season underway and November approaching, sellers can expect an increase in prices and buyer activity.

Expert Perspectives

Real estate professionals also provide valuable insights into the current market conditions. Place New Farm principal Sarah Hackett highlights the surge in buyer activity during spring. The auction clearance rate has significantly improved, and the number of registered bidders has increased compared to winter. Spring is an ideal time to showcase your property’s best features and capitalize on the positive energy and urgency from buyers.

Cohen Handler Qld managing director Jordan Navybox notes that this year’s spring selling season started earlier than usual. Vendors wanted to beat the anticipated flood of new listings following prolonged low stock levels since the pandemic boom. Historically, the highest volume of sales occurs from September to November, as buyers aim to settle in their new homes before the new school year.

Low Stock Levels Benefit Sellers

PropTrack’s most recent listings report indicates that continued low stock levels give sellers the upper hand in September. New listings on realestate.com.au have decreased month-on-month and year-on-year. This restrained supply, coupled with strong demand, has contributed to a 5.8% increase in home values in Brisbane and regional Queensland.

Conclusion

If you’re considering selling your home in Australia, the timing can significantly impact the price you can achieve. The PropTrack Market Insight Report reveals that October and November are the best months to list your property in Brisbane. Sellers can expect higher returns, with prices being 0.52% and 0.25% higher, respectively. Spring is an opportune time to showcase your property’s best features and capitalize on the positive energy from buyers. With ongoing price growth and a seasonal boost, sellers can look forward to a successful selling season.

For more real estate insights and expertise, visit Down Under Realty.