Warmer months in Australia usually generate a busier property market; however over the Christmas/New Year period, things can sometimes slow down. Focus tends to shift to celebrating the holiday and agencies typically take a well-deserved short break. However, there are definitely still advantages to selling at this time of the year.
Spring is over
Transition seasons are known for being a busy time in real estate, but waiting for the completion of Spring actually provides some benefits. Buyer competition is at an all time high during Spring. This means it is likely that lots of potential buyers missed out on purchasing. Also, people who sold their home during this period will be moving close to settlement date and needing a new home. Both these groups would likely want to avoid a prolonged renting or alternative living arrangements, making the Christmas/New Year period market crucial for them.
Less selling competition, more buying competition
Increased buyer competition during the busier times in the market might seem appealing; however it also results in more properties on the market that you are directly competing with. During the Christmas/New Year period, there is less stock for buyers to inspect, allowing your property is more easily stand out.
More free time for potential buyers to inspect
As workplaces slow down and people taking the holidays off, potential buyers may have more time to attend inspections. Also, another positive of being away from work is that the environmental pressures are reduced, meaning people tend to have a better attitude and maybe even are more open to negotiation.
Merge of rental audiences
The end of the year is a common time for lease agreements to come to an end. For some renters, it could be the time to make the transition into the property market and home ownership. Positioning your property to this demographic couldn’t fall at a better time.
Presenting your home appropriately to prospective buyers is imperative no matter the time of year. However, what better way to tug at those heart strings than during the festive season? By decorating and getting into the Christmas spirit, it becomes easier for families to envision themselves in your home and make it their own. This emotional engagement with buyers is much more powerful than at any other time during the year.