Why selling property in winter and buying in spring makes sense
Winter may be coming to a close shortly but some agents think it was the wisest time to sell in preparation of buying in spring.
Against popular opinion, selling property in winter might not be such a bad idea, especially on delayed settlement terms.
“Melbourne is iconic for its spring market obviously, when the property looks its best. However, there are a lot of property that is transacted through winter,” Cameron Deal from Infolio Property Advisors told Melbourne Property TV.
“It’s sometimes better for a vendor to sell in winter because there’s less competition amongst other properties.”
The sentiment is echoed by veterans in the industry, like Tim Fletcher from Fletchers.
“If you decide to sell your most important asset over the winter period you’ll join a small number of people who are selling because most people either do it over autumn or spring.”
“So I think it’s a smart move to think about selling when there are fewer properties on the market.”
Brace real estate agent Aldo Verga says winter can make homes much more welcoming.
“A lot of people come spring will do up their garden, but winter is a great time – there’s warmth, the heater is on, the lights are on. It’s beautiful, ” Aldo Verga told Melbourne Property TV.
Paul Keane from Jellis Craig says he always sells his own properties in the winter.
“It just seems there is less stock around. It gives less of a choice to buyers and it attracts the buyers who are prepared to compromise slightly because they want to get into certain areas."
Agent Elizabeth Treonze from Elizabeth Treonze Real Estate says she finds more genuine buyers during the winter.
What everyone seems to agree on if you’re selling in the winter, is to make the property welcoming.
“If it’s cold in your home, light a fire, cheer it up, do things to make people want to walk inside and feel like it’s a real home. Give it that 'wow' factor and you should succeed,” says Fletcher.
REIV’s Robert Larocca puts a chill on things though and says numbers in winter are neither up nor down.
“Our figures show it doesn’t matter when you sell during the year, your outcome is likely to be the same.”
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