How to make the most of the quiet summer property market
January 24, 2017 / Written by Rich Harvey
Have you been lied to about the Sydney property market? We traditionally view spring as the big selling season, when everyone comes out to play after winter and auction numbers start going through the roof. But, as recent research from CoreLogic RP Data shows us, the most popular time for real estate activity is actually much sooner.
CoreLogic RP Data (@corelogicau) January 13, 2017
With March the most popular month and autumn inches ahead of spring, there's clearly a new contender for when the Sydney property market is most active.
But rather than focus on the busy times, I want to give some thought to summer. With only 22 per cent of real estate transactions, it's markedly less popular than the rest of the year - likely due to the holiday period. However, I think there are some real benefits to getting amongst the market early. Here's why you should think seriously about summer buying.
Get a jump on the competition
I think one of the reasons March and April are so popular for property is the Easter holiday. A lot of people use it as a benchmark, a deadline by which they want to have signed the dotted line for their new home.
However, at the moment you'll find the kids are still at home, and a lot of searching doesn't go on until the school term starts and it's a bit easier to get out and about - this applies to both home buyers and property investors.
By using a buyers' agent and scouting the property market during summer, you can get the jump on a lot of your competition that are still focused on their holidays.
Relieve yourself of time pressures
If less people are buying, it's less competition to contend with.
If you want to buy Sydney property before Easter, or simply as soon as possible, heading into the quieter summer market can be hugely beneficial. If fewer people are buying, it's less competition to contend with - you'll avoid prices being driven up by high levels of demand.
However, buying a new home is still a time-consuming affair. Even if the market is quieter than usual, using a buyers' agent can make this a whole lot easier. With advance notice of properties and in-depth knowledge of the market, we can help you find exactly what you need in no time at all. We usually find something for house hunters within four to eight weeks - if you want it done fast, get in touch with the team at Propertybuyer.