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When is the best time to sell?

At this time of year one of the most common questions I’m asked is, ‘When should I sell my property?  Is it a good time now, or should I wait until February?’.  Well, there are a number of factors to be considered.  I usually say, ‘It’s more about what stage of the market cycle than the time of year.’  However, Christmas is a tricky time of year as traditionally solicitors, advertising contractors and agencies close down for anywhere between 2-4 weeks.  However, this is 2019.  Now more than ever, we live in a real-time world with buyers and sellers who have real-time expectations.  Conveyancers and agents trade until the week leading up to Christmas and reopen in the 2nd week of January. The days of solicitors and agents closing from mid December to mid January are fading away.  The newspaper closing for the same period no longer effects us as everything is done online these days.

What’s happening in the market?

So, with this in mind,  let’s have a look at what’s happening in the market right now.  Supply has steadied, buyer demand is on the rise and the housing market has recovered to be close to the peak of the last boom.  The apartment market has begun to follow suit and we are about to see the First Home Owners Deposit Scheme come in to play.  This means 10,000 new buyers will be hitting the market in a position where they can purchase with a 5% deposit and obtain a 95% loan.  Whilst there a limited number and it is a ‘first in best dressed’ scenario, we are likely to see this have a ripple effect from the bottom of the market up.  In NSW first home buyers pay no stamp duty up to $650,000 and receive concessions up to $800,000.  The way I see it is that apartments in our area will see a surge in interest as buyers look to take full advantage of the current government incentives.  This will likely see the sellers of those apartments be in a position to upgrade and enter the house market.

As there are more buyers than sellers at present this creates a great opportunity for those are looking to sell.  We have many clients who have now sold with long settlements and are ready to purchase.  In addition, we have been averaging 6 registrations per auction meaning there are 5 qualified buyers from each auction still looking to buy.  So, if you ask me I will freely tell you it’s a great time to sell!  In fact, at the moment we are in a better position than ever to introduce a premium buyer to your property before Christmas on your price and terms.  If you are looking to trade up or down, we can have you in a position to buy when the next influx of property hits the market in late January giving you greater choice when it’s time for you to purchase.

Thinking about selling?

So, the question I have for you is –  ‘Would you like the Hill & Viteri Property team to let these buyers know about your property?’  If the answer to that question is ‘Yes’ then get in contact with us on 9545 2220 or contact us by clicking here to arrange a Free Appraisal.

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