Why timing is vital in the Spring property market
Yes, the Spring property market has officially arrived. This means that there will be quite a few homeowners in Melbourne’s inner north who will be trying to make informed decisions on the timing of a long-planned property sale, (a sale that has probably been on hold for a year or so while the market resettled).
If you are one of those local residents who is in this position, allow us to offer a simple piece of advice…hitting the market right now could be the smartest thing you’ll do all year!
Importantly, this advice is not just about our opinions and observations of the Spring property market. Just take a look at these five factors that are currently making an impression on the Melbourne property market:
- Interest rates are not only at RECORD LOWS right now, but some experts are tipping at least one more cut before the end of 2019, and another in early 2020! So buyers are feeling really confident about the long-term affordability of their home loan.
- The banking regulator, APRA, has eased restrictions on mortgage lending, making home loans easier to get and increasing buyer’s budgets as well. As recently as this Saturday’s Age, experts are saying that buyers’ budgets have increased by between $50,000 and $100,000.
- Melbourne’s recent auction clearance rates have climbed to levels not seen in almost two years.
- Attendances at our Open Houses are up substantially, as are the number of active bidders at our auctions.
- The figures from Corelogic indicate that Melbourne’s median house price has begun rising again after an unsettled year or two.
When you add these five factors to the lesson of history which show that those vendors who sell earlier in Spring tend to achieve better results than those who leave their sale until later in the year, the message is clear.
After all, the last thing you want is to be one of those sellers who will delay acting, and end up nervously watching the approach of December saying, “If only we’d made our move earlier”.
If you would like some obligation-free advice on how to maximise your sale price without spending money on things that won’t make a difference, you can reap the benefits of our experience by calling
If you would like some obligation-free advice on how to maximise your sale price in the Spring property market (without spending money on unnecessary enhancements that won’t make a difference), you can call the Barry Plant team in the inner-north anytime.
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