Winter has often been associated with a slower, ‘cooler’ property market, however, it is possible to both buy and sell property for a good price.
Winter has often been related with a slower, ‘cooler’ property market, however, it is possible to both buy and sell property for a good price.
It’s not about the time of year; it’s about the state of the market and your own situation.
Winter can be a good time to house hunt for buyers. Even though it is considered off-season, it could mean that you can find the perfect property for a great price and less buyer competition, especially if other potential buyers decide to wait until spring to begin house hunting.
Even if there are fewer properties available on the market, if there are less people bidding at auction and making offers, it could be a great advantage for you. Real estate agents will have the time to really show you around and you can benefit from their local knowledge and expertise.
Test weather durability
Inspecting a property during winter gives you a chance to see how it handles the weather. Did it feel cold while walking through the house? Is there a suitable heating system? Are there cracks in the windows that let in drafts or does water leak in when it’s raining? Does the sunlight come in or is damp inside with mould forming on windows. If you view a property during a perfect warm autumn or spring day, it wouldn’t be as easy to pick these things up.
Although the weather is getting cooler, it doesn’t mean people will stop house hunting. Spring and autumn have been labelled the busiest time for buying and selling with large sales numbers, however, there are several advantages to selling between June and August.
Fewer properties for sale may equate to a higher demand for properties in the market. This means buyers may be more willing to pay more for your property.
According to RP Data, 2013 winter auction clearance rates for Australian capital cities were 67.9% compared to 66.6% for the rest of the year.
More attention from the agent
During busy buying and selling seasons, agents may only have a limited amount of time to spend with you discussing selling strategies. However, by putting your property up during a quieter period, your real estate agent can be more attentive, which could also help sell your property quicker.
Show off warm features
By taking a different marketing approach, you can stop your property from looking dark and dreary. Advertising in winter is the perfect opportunity to present the property in a different light. Features such as heating, insulation and lighting can help show off how warm and inviting your home can be. Also if it is facing a northerly direction and takes advantage of the warm winter sun, it is a good time to show this off as well.
Remember, it doesn’t matter if it’s hot or cold outside, before you decide to buy or sell you need to consider your own personal circumstances and whether the market is in a good state.