Ready to downsize, upgrade or move to the country? You’ll likely be asking whether or not now is a good time to sell.
The good news is that autumn is a prime sales season so if you’ve prepared your home for sale, we’re here to help you gain the optimum price.
If you’re reading the papers and watching the news lately, you’d be forgiven for thinking the housing market is due for a correction downwards. While that might be true in some markets, we have to remember that every suburb is more or less a micro market dependent on local factors. If we experience a market downturn, we can expect to climb out of it quickly.
Remember, even during periods when prices are static, people are still on the move. There are at least 21 reasons home owners need to sell. These reasons include moving for work, moving back overseas, upgrading, downsizing, tree or sea change, divorce and sale of a deceased estate. Many of these activities are time-sensitive or not discretionary so you’ll always find opportunities in the market.
Interest rates a factor
A higher interest rate has been a major factor influencing sales and home prices. This is something we realise through common sense but if you had any lingering doubts, the Productivity Commission asserts the direct correlation between interest rates and house prices. At lower interest rates, the cost of housing is lower and therefore demand increases and house prices rise. During periods of higher (more normal) interest rates such as we’re experiencing, house prices stop rising as dramatically (although we’ve still seen price growth staying fairly steady).
With the thought of an interest rate cut on the horizon (although just when is a matter of conjecture), buyers are lining up their ducks, ready to jump on any opportunities.
Equally, sellers (most of whom will need to buy another property to live in) are poised for action, ready to put their homes on the market as early as the end of February. This means they will have their homes on the market in autumn. What does this mean?
Five reasons to sell your Hills home in autumn
1. Reduced competition
With fewer sellers active in the market, your property stands out more prominently, attracting increased attention from potential buyers. This reduced competition can lead to more serious inquiries and faster sale times. Additionally, many buyers are keen to get settled before winter sets in so you’ll have more decisive buyers.
2. Weather
Who doesn’t love autumn in Sydney? Lower humidity, cooler days and blue skies mean those buyers who hid behind their air conditioning all summer are back in the market. Autumn is a great season for property viewings, allowing potential buyers to fully appreciate your home’s features without the discomfort of extreme heat or rain.
3. Kerb appeal
If you have a garden, autumn is your time to tidy and mulch, then you can leave it for a few weeks and it will stay looking good. Less rain means less mould and rain-streaked windows so your home can sparkle from the street.
4. Timing
By listing your home in autumn, you can capitalise on the season when buyers are more likely to be actively searching for residential properties. As the financial year draws to a close, many buyers are eager to secure a new home before the new financial year, making autumn an opportune time to connect with motivated buyers.
5. Above-average prices
An Australian Broker News article revealed prices for March sales in Sydney are +0.85% higher than for other months.
Sell in 2025 with confidence ‒ when you’re ready
Remember that even if you achieve a price different from what you expected, the market levels for everyone. You will find properties priced below what you might have expected two years ago and see opportunities across the market. However, the ultimate answer to ‘Should you sell your Hills property in 2025’ is, ‘Yes, but only if you’re ready.’
Thinking of selling or need selling advice in The Hills?
We have buyers looking for homes in Rouse Hill, Beaumont Hills, Box Hill, Kellyville, North Kellyville and Tallawong. As established real estate agents, we’re here to help. Get in touch today by calling us on 02 8883 0777.
