Winter property market insights
How does the arrival of winter affect the property market?
Spring is often acknowledged as the busiest time of year on the property market calendar: plants are in flower, vendors are throwing open their doors, and buyers are pounding the pavement in search of their dream properties.
But what happens in winter?
Should you hold off selling or buying property in the cooler months?
Winter is generally a quieter time, but while there are fewer sales, auction clearance rates tend to remain steady.
In winter 2014, auction clearance rates across Australia’s capital cities were 67.9%, compared with 67.8% in non-winter seasons, according to CoreLogic.
Clearance rates in the winters of 2009-13 were also close to or higher than clearance rates outside winter.
These figures indicate that supply and demand remain balanced at pretty much the same level in winter as at other times of the year.
Is there a price freeze over winter?
Another factor to consider when contemplating when to buy or sell is how winter affects property prices.
Trends over the past few years suggest that property values are continuing to increase, for the most part, over the winter period.
Are there advantages to buying and selling in winter?
Buyers may find that winter has its advantages. If you find your dream home during winter, there may be less competition for it.
On the other hand, selling in winter can have its benefits too. With fewer properties on the market, buyers have less to choose from, and real estate agents have more time to attend to each vendor.
If you’re selling, knowing which season will bring out the best in your property,
Some properties come into their own in winter, such as well-heated homes in cool climates. Other properties - such as those that have pools or large gardens - may be more appealing in spring.
Keep on top of the latest movements in the property market around Australia with our Home Buyers Index report.
If you’re looking to buy or sell, our complimentary Property Reports can help you search for sale listings, suburb property stats, demographics and more.