When should I sell my property?
Is there a particular season when it is best to try and sell a house?
There are times during the year that traditionally see more real estate activity than others - autumn and spring in particular. These can be a great time to sell due to the better presentation of gardens, moderate weather and increase in buyer activity. However, as they are usually active times, the increase in purchaser interest is normally coupled with an increase in properties on the market. Your pool of buyers may increase (depending on other market conditions such as interest rates, govt grants, etc.), but the number of properties competing for these purchasers can increase accordingly.
Other times of the year can also produce great results for this reason. Taking into account the supply versus demand that normally influences selling prices, choosing another season to sell can mean there are less properties on the market to compete against yours. During the Christmas period, the real estate market is traditionally quiet in most areas (holiday areas can boom during this time).
More than the seasons, other factors play a greater role in determining when people move - births, deaths, marriages, divorce, job transfers, financial gain or loss - these events happen throughout the year and, as a result, properties sell throughout the year.
I purchased my property three years ago. What percentage increase in the price will have occurred?
Property prices do not go up or down at a given percentage right across the board. Individual factors such as the type of property, its condition and location as well as demand for that type of property all affect the price. Check the LJ Hooker Property Value Guide for your suburb to see how the market has moved over the last 10 years.
Did you find this useful?