Winter weather has been relatively mild with few rain days, so most properties are still very presentable. Traditionally people wait till Spring, but I stress traditionally because now it’s not just the weather that affects the sale price.I would argue that supply and demand is one of the major influences on property prices. In recent months in the Sutherland Shire and across Sydney open house numbers have dramatically increased, days on the market have significantly reduced and prices are on the up, up, up!
If you are thinking of selling, I ask you this question, do you think you will get a better price in spring when you could be competing with lots of properties in a similar price range but the flowers are blooming in your yard? Or do you think you will get a better price in winter, when there are just a few similar houses on the market and an abundance of buyers clammering for the same home, your home?!
And just to throw a spanner in the works this spring, we have a federal election. Every time there is an election, the few weeks either side of that date, (for whatever reason) buyer activity drops off.
No year is ever the same with economic and political circumstances affecting the supply and demand of the real estate market, but this year, most agents are seeing a shortage of good properties to sell and very competitive bidding from buyers.
HSBC this week dropped their 2 year fixed rate to 4.59%! Who would have thought a fixed rate under 5% was possible even 12 months ago! It is now cheaper to have a mortgage than pay rent for a lot of people in a lot of suburbs in Sydney. This will only encourage more buyers into the market this winter.
So if you are considering making a move this year, I would encourage you to do it right now!