Should I sell my house now or wait? 2022

After the once-in-a-generation boom we saw in the Australian property market throughout 2021, conditions have shifted and things are looking a bit more complex in 2022. 

Many experts have suggested that the peak of the market is behind us, but some cities and regions continue to show strong growth. Then there are questions around interest rate hikes and inflation, the international border reopening, and of course a federal election. 

Is it best to take advantage of current selling conditions so you can comfortably move into the next phase of your life? Or should you wait it out and see if prices continue to rise? But will that make purchasing your next property even more expensive? It’s all really confusing, and there’s plenty to weigh up.

Whether you choose to sell isn’t just about current market conditions, but also the urgency of your own personal circumstances. For some of us, we needed to upsize into a bigger property yesterday, while for others, waiting for the market to rise might be a good incentive to release more capital before retirement. 

Buying or Selling in a Down Market

When external factors of economies that affect us are doing well it usually represents a sellers market meaning demand is high, however when the factors do a nosedive this represents a buyers market with low demand. 

When it comes to a downward market, agents cannot change the factors but instead can change how they react and conduct their work. Meaning against will need to examine each situation individually and implement a strategy to find the appropriate approach.  

If you’re still on the fence about selling, we get it. It’s a huge decision that deserves all your careful consideration weighing up the advantages and disadvantages for either scenario. 

Even if the market feels a bit uncertain, it’s important to remember that it’s all relative and the market doesn’t stop.

There will always be properties being listed and buyers out there wanting to purchase a home. 

It’s also crucial to recognise that conditions will vary from suburb to suburb, so it’s important to understand your own local market – and to do that, you really need to get granular. 

Whether your property is impacted by price gains or falls depends on many factors including location, property type, and whether your home falls into the higher or lower end of the market.

If you’re seriously considering selling your home, you need to do your research. As a first step, get a ball-park estimate of what your home might be worth.

Speaking to a top local agent is one of the best ways to get a thorough understanding of how buyers are behaving in your suburb, what kinds of results are still being achieved, and what the best strategy could be for you to still get that dream sale result. 

At the very least, it’s helpful to hear what properties are selling for, what demand is currently like for homes like yours, and to get a no-obligation appraisal of what your home might sell for in the current market.

A top agent who knows your market like the back of their hand will be able to help you.