Real Estate agents across the nation have convinced property owners that the best time to sell their house is either in Spring or Summer. The standard justification for this is that there are more buyers in Spring and Summer, but in my view this is curious logic. There are always people moving to Sydney, having children, downsizing and looking for investment properties. Another argument is that the weather is better and most houses look their best in the warmer months, I certainly agree with that but does it actually mean you get a higher sale price?
It is interesting to note that the last 3 market peaks have occurred in winter- June 2003, July 2010 and August 2015. Why is this? The property market is driven by many factors however the most significant of these is supply and demand. The best time to sell a property is when there is very little competition around, conversely the best time to buy is when there are few buyers (close to Christmas is a good example). Additionally, the market has softened notably in the Spring selling season following these peaks, mostly due to the influx of supply. This sudden rise in stock levels comforts buyers as it’s apparent that if they miss out on this one then there are other options available.
There are of course exceptions to the rule, if your home faces south and is particularly cold and dark in winter then it would be wise to avoid listing your property when these deficiencies are most obvious. Similarly, if your property faces due west you wouldn’t want inspections to be happening on a hot summer day where buyers are melting in your home.
Another thing to remember is that if it’s cold and rainy, it will be the same at every house the buyers see. Consider how you can make your home feel welcoming and cosy, if you have a fireplace then you should certainly use it. Another tip is to use lamps rather than regular room lights as they add warmth and create a nicer atmosphere.
Focus more on the market conditions than the weather and you will get the best price.