Bianca Denham Head of Performance and Recognition Ray White Group
WHY SELL NOW ?
Many of us have taken a well-deserved break over the summer . Whether travelling overseas , domestically or simply enjoying taking it easy at home - as 2022 was a year of ups and downs - it felt as if a collective recharge was very much needed .
As we start the new year , our appraisal and listing trends are following the typical seasonal incline , heading through into late summer . Currently , our new listing numbers are around 10 per cent lower than this time last year , but almost in line with where they sat at the same time in 2021 . Our appraisal numbers are 10 per cent up on this time last year , which is an indicator that more new listings may come to the market .
February through to the Easter break is usually the second biggest selling season of the calendar year . Why this period is so busy probably has to do with many buyers and sellers resuming their plans around moving on to their next chapter , which may have started in late 2022 but didn ’ t quite come together . Similar to the summer break , the Easter holidays see a lot of Australians taking time out and this tends to act like a deadline to decision-making . Some sellers have a perception that selling in spring and autumn can be advantageous due to weather and gardening conditions but in reality , there ’ s no ‘ wrong ’ time to buy or sell property . The factors that trigger buying or selling a home typically have nothing to do with seasons but are driven by much larger factors such as changes in work or family dynamics .
While interest rate rises will no doubt continue to restrict some buyers ’ borrowing capacity , there are still a few factors putting pressure on housing availability . We ’ re seeing more migration and international students returning to Australia . Add this to fewer new-builds due to supply chain issues with building materials , we ’ ll continue to have housing supply issues . While prices may have stabilised and in some cases , declined in certain markets , there are still plenty of buyers in the market hoping to realise their property goals .
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