August: The month of opportunity
Welcome to our first Market Update in August. It’s a month that offers enormous opportunities for homeowners in the City of Hume who are keen to make a move in the coming Spring market, particularly if you are keen to make the most of the early Spring selling conditions which history tells us is the time that more sellers tend to achieve the strongest sales results.
Why is early Spring a favoured time to sell? It’s quite simple really. At the start of Spring we tend to see an increase in the number of aspiring buyers each year, all keen to take advantage of the annual Spring market. However, this period is also a time where there are often less properties for sale, as so many sellers are slow off the mark and still getting their homes ‘market ready’ In a nutshell, more buyers and less stock means increased competition for the limited number of listings, and better prices.
In contrast, the further you get into Spring, the more the pendulum tends to swing the other way. The number of buyers per property tends to drop as more people find their next home, whilst the number of listings increases as more people finish their preparations, including all those people who have purchased and then have to sell their current property. Of course, if you leave it really late, the festive season and the end of the year start to loom large.
So, as I touched on earlier, the smart Spring sellers will be spending the next few weeks of August preparing their property for market so that they can hit the ground running when Spring officially gets under way in four weeks from now.
The most important tip I can offer anyone considering selling this Spring is to get experienced and objective advice about your specific property BEFORE you head off to Bunnings. You might find that, other a strategic tweak of the garden or fixing the squeak on the front door, your property might be better off being offered with no major preparation expenses at all. So be sure to have a chat with one of our team at Barry Plant Gladstone Park before you spend money unnecessarily. You can catch us during the week on 9330 1088.
Regards,
Bill Karp - Director
Barry Plant Real Estate
Gladstone Park