The fact that Spring is the best time to sell your property is one that’s commonly held in Australian real estate. House hunters emerge from their properties in hordes, the sun is shining, birds singing and bees bouncing from flower to flower.
However, research from CoreLogic RP Data show that although the amount of homes on the market during winter is lower, the clearance rates at auction hold steady. So, bearing this in mind, is winter a better time to buy? In this article, we’re going to examine some of the key benefits that come with buying property in the colder months.
There’ll be Less Competition
Falling in line with the smaller number of properties circling on the market, there are often going to be less buyers in winter. This can be a huge advantage for you, as if you stumble across your dream home, chances are there’s going to be significantly less contention for it. This doesn’t only increase your chances of landing the purchase – you could even walk away with a steal.
The Market Conditions are Favourable
In addition to pricing, with less buyers on the market, sellers are likely to be more accommodating with their conditions, such as terms of sale, closing costs and handover date. This could work in your favour if you require flexibility.
There are More Real Estate Agents Available
When buying in the off-season, the lower property demand means more real estate agents available. As a result, you’ll stand a good chance of getting a great agent who’ll dedicate a large chunk of time into finding a property that’s right for you.
You’ll See What a Home is Really Like
Another advantage is you’ll be able to see what a property is really like during the colder months. Pay particular attention to:
- Mould on skirting boards, walls and ceilings
- Walls that aren’t 100% level
- Mould-covering paint jobs
- Windows and doors that don’t open/close properly
The information and links provided on this website are for general information only and should not be taken as constituting professional advice. This information does not take into account the financial situation or particular needs of individual readers. Before making any decisions about matters discussed on this website, you should consider whether it is suitable for you in light of your own circumstances, and seek appropriate advice.