Selling in winter?
You might get a warmer response to marketing your property in winter than you thought.
Spring and autumn are traditionally the busiest times of year for the property market, with the largest volume of sales. Summer can also produce a high number of sales, outside the Christmas holiday season.
But what if you want to sell in winter? As the nights draw in, we look into some of the advantages of cool-weather property sales:
- Fewer properties on the market
Property market activity tends to reduce in winter, with fewer sales compared to the peak times of spring and autumn.
However, while there are fewer buyers around, there are also fewer properties on the market, so supply and demand remains fairly constant.
This is reflected in auction clearance rates. In 2013, winter auction clearance rates across Australia’s capital cities were 67.9%, compared with 66.6% in non-winter seasons, according to RP Data.
Previous years were similar in terms of clearance rates being roughly the same in winter and non-winter months.
- Cold, dark nights equal well-lit, warm homes
During winter, most sellers hold inspections after dark. Using interior lighting, heaters or fires can make a property feel warm and welcoming, and increase buyer interest, potentially maximising the property’s sale price.
- Cold weather properties looking their best
Quality properties in cold climates - such as mountain cottages - can show off some of their best features, including heating and insulation, in winter, and might subsequently fetch higher prices than at other times of year.
- Your agent may be more attentive
In peak buying seasons real estate agents are likely to be selling many properties at once. In winter they are likely to have fewer properties to sell, so you and your property may get more attention.
If you have seen your perfect property for sale and are looking to sell your current property during the winter season, it might help to consider bridging finance. It can help you secure your new home and keep on top of your deposits, repayments and loans, enabling you to get on with the important business of making your property look its best before putting it on the market.
Thinking of taking advantage of the property market this winter? If you’re selling one property and buying another, our Bridging Finance options can help.
Things to know before you Can: The advice contained in this article is for general information purposes only and may contain general advice. It has been prepared without considering your objectives, financial situation or needs. You should, before acting on the advice, consider its appropriateness to your circumstances. Commonwealth Bank of Australia ABN 48 123 123 124.