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Is Spring the best season to buy or sell property?

August 20, 2013 6:30 pm
posted by James Parnwell

Is spring the best season to buy or sell property?

The spring season is typically known to be the best time of the year to buy and sell property.

However, there is a growing opinion that spring, while being the best time to buy, may not be the best time to sell.

The reason is that spring usually sees a huge influx of properties on the market resulting in a possible oversupply.

This is great for people looking at building their investment portfolio as there is a huge influx of properties on the market.

There is a chance you may gain a bargain if somebody wants to sell quickly in the competitive market.

In saying that, with a competitive listing market, you will also find a competitive buying market.

Is Spring the best season to buy or sell property?

 “If you’re looking to buy, buy in spring – but if you’re looking to sell, sell in winter,” says Sanderson of Smallacombe Sanderson Real Estate.

Wealthfarm wrote a great article on what kinds of property are best to buy and sell in different seasons.

In the article, Agent Peter O’Malley of Harris Partners in Balmain said he advises his clients to sell in winter to avoid the spring madness.

“(In spring) the supply swells overnight and buyers suddenly have a massive range of properties to choose from. And that causes hesitancy.”

“Winter is a great time to be a seller and spring is a good time to be a buyer,” he said.

The reason is that so many sellers put their properties on the market in spring.

The generalisation is that sellers have a negative attitude about Winter being a bad time to sell because the garden is dead and the weathers awful. The idea is that spring will see the garden flourish and the weather will entice more buyers.

The problem is that everybody has the same idea which causes mass bartering and long waiting periods if you’re wanting to sell quickly and at a great price.

On the flip side, strong competition can, sometimes force house prices up, and if your property is looking great, buyers may be willing to pay more for it.

What it comes down to, regardless of the season, is the supply and demand of property in your area.

Right now, Sydney is in a period of under-supply and the interest rates have just gone down so it is likely that this spring will produce a flourishing housing market.

 

For advice on how you can start your property portfolio this spring contact us!

 

Written by Jordan Cox and James Parnwell

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3 Responses to “Is Spring the best season to buy or sell property?”

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