How to prepare for the spring property market
If you’ve been keeping a close eye on interest rates and the reaction in the property market, you might want to look even closer now that spring is here.
Traditionally, spring has always been a hot time for the Australian real estate industry, particularly in colder climates such as Bathurst – and that has potential benefits for both buyers and sellers.
Selling in a hotter property market
As a seller, spring is blossoming with opportunities. Any property with a garden is likely to be looking its best in the warmer spring months.
When it comes to prices, increased levels of buyer competition also heat up – and the potential bidding wars that can inspire could mean positive things for your sale price.
Timing also plays an important part in the increased number of people keen to buy and settle on a property as quickly as possible before spring ends. With many properties having settlements of between 30 and 60 days, buying in spring means settling before Christmas, in many cases – and that’s great news for anyone keen to see the festive season at a new address.
Of course, all that added interest in the market means that you won’t be the only one deciding that spring is a wonderful time to sell. With more properties competing for the attention of potential buyers, this should give you the motivation to put some effort into making your home’s interior and exterior look as attractive as possible.
Tips for selling property in spring
Giving any property a spring clean is always good for the soul – and improves the impression the property has the power to make.
Speak to your agent to ask them what they think you need to do to add value to your home without having to spend too much money. Make sure you attend to any urgent repairs, and present your property in a way that’s clean, uncluttered and inviting.
Talking to your agent about matching your selling price to suit the reality of buyer expectations in this time of higher interest rates is a positive way to help achieve a quick, successful sale.
Buying in a hotter property market
With more housing stock set to hit the market in the coming weeks, as the traditional spring market gears up, having plenty of properties to choose from makes it easier to find a property that suits your needs and your budget.
For those considering investing in property, looking at markets beyond your own area might be worthwhile. Buyers looking for a property to call home, should always have a realistic set of factors driving their search, including a budget that matches their finance approval boundaries.
Tips for buying property in spring
With the increase in stock set to hit the market across Australia, even with this year’s slower spring property buzz, buyers have more choice.
Create a checklist that includes the list of ‘must-haves’, as well as the things you are more willing to compromise on, and secure finance approval so you understand your limits before you inspect and make offers.
By looking at properties armed with the right information you need to make a smart buying decision, it will be easier to find what you’re looking for.
Choose a reliable conveyancing service
Whether you’re buying or selling this spring, you can take control of achieving a smoother, successful settlement by engaging quality conveyancing services.
From reviewing a contract, to helping you draft your own, the experienced, trusted conveyancing team at Key Conveyancing Solutions can assist you right across NSW to help you manage all your conveyancing needs.
