2019 saw the housing market tell two stories; the first half of the year was slow with lower numbers of properties on the market, yet the second half demonstrated some outstanding results.
Coming off the back of a significant turnaround, we are likely to see a gradual influx of new listings in 2020 as vendor confidence increases.
Thanks to a few interest rate cuts and the introduction of the First Home Loan Deposit Scheme on January 1, buyers will be entering the property market sooner than otherwise thought, especially first home buyers.
What are buyers looking for?
We’ve noticed there are a few things that home buyers look for. Locality near public transport and good schools is often a priority for many people. When it comes to the house itself, home security features like security doors and good locks, add appeal to any home. Additionally, houses that have any extra room for a home office or a multipurpose ‘wellness’ type room, have come up more popular. Lastly, single stories on a smaller block are starting to be less dreaded and more sought after, as people are looking to save time on home and garden maintenance. With this in mind, renovated properties are usually preferred to those needing work done.
Tips for the seller
In an era where the internet is usually where we see things first, the impression an online listing leaves is invaluable. It has been found that properties that don’t need work done are preferred so make sure your home is in tip top condition. A listing that doesn’t present a sharp looking property tends to lose interest and falls further down buyers’ lists. It is also likely to lose buyer interest if the property isn’t nicely presented during open for inspections.
Declutter and depersonalise
The easiest sales are those that have a wide target audience. You can do this by making the property easy for buyers to connect with. Simple ways to do this is to make your home more neutral; remove excessive family pictures on walls, neutralise bright paint colours and think about what might be around suggesting it is still very much the vendor’s home. Consider bringing in a third party to provide advice on what should stay and what should go. You could ask a property stylist or a friend happy to critique the house.
Clean and prep
Similar to our first tip, presentation is key so we suggest taking care to ensure detail is put in to cleaning and preparing the property for sale. That means doing more than just your usual cleaning checklist; think more spring clean. Additionally, you might be an idea to get a building inspector look at your home. That way you can be prepared for anything that needs fixing in advance.
Talk to an agent
Finding the right agent for you can be tricky. You want to ensure the person running your property campaign has the same values as you and understands your circumstances. They also need to have the right passion and abilities to get you the best price. One of our agents can provide a free, no obligation market appraisal to tell you the value of your home, and how they can best help you sell. Don’t hesitate to find out more by getting in touch with your local office.