Winter does not dampen interest in Sydney market
Lower winter market listings will commence from the Queen’s Birthday holiday break next month, but vendors should really sell their homes whenever it is convenient.
The unpleasant weather of winter does not dampen interest in the Sydney market as it did in the past.
Indeed winter can be a great time to sell given that there will be fewer listings competing for buyer attention.
Over recent years there has been a rising trend of winter auction volumes to record levels.
REA Group chief economist Nerida Conisbee noted last year winter was the season with the highest clearance rates.
Average clearance rates across Sydney, Melbourne and Brisbane for winter were 74 percent, while autumn came in second with an average clearance rate of 69.8 percent. Spring, which most think of as the traditional selling season, had an average clearance rate of 61.8 percent, while summer was lower at 61.1 percent.
Ofcourse the property needn't go to auction, rather be for sale by private treaty or discretely for sale off market.
Common sense would tell you that fewer are inclined come to a wet onsite auction, however while the sticky beaks might drop off during the colder months, the percentage of serious bidders among the attendees actually increases.
There are few reasons why homes can't be put up for sale in the upcoming cooler months, so here's some quick advice on listing.
Winter can make homes much more welcoming so get that great winter light into the home.
Draw back the curtains and blinds on the windows and make the house or apartment feel warm and comfortable. Light the trendy new hanging fire place.
Decorators would also suggest add some warm reds and oranges to your soft furnishings around the house.
Be sure to instruct your agent about the best time of day to show your home for its open for inspection.
Auction hibernation certainly happens more so in Sydney's higher-priced suburbs through winter as overseas vacations are the escape for owner and agents alike.
Garden suburb vendors tend to hold back too, but not the inner west so much.
The fact is the demographic reasons for buying and selling don't take a pause so growing families still need that extra bedroom.
Those downsizers who've perhaps got their off the plan settlement coming up, will want to lock in their house sale too.
The recent strong autumn sales period ensures there are still plenty of committed buyers who've missed out.
Unsuccessful buyers with approved finance are still out there to buy before they have to re-apply and meet tougher restrictions, so they don’t have time to take three months off over winter.
So this winter, like any market, there are opportunities to make the most for the seller and buyer.