If you see any or all of these 5 market flags waving, it may be a stellar time to list your property:
1. There is a shortage of housing for sale
Pay attention to real estate data numbers. If you detect home listing numbers are shrinking, it may be a good time to enter the market.
Property values reflect housing supply and demand, so signs there is less stock available to buy can increase sale prices.
2. The Australian dollar is softening
When Aussie currency value falls it points to rises in foreign investor demand.
It also tends to trigger an influx of interest from Australian expatriates looking to buy Down Under ahead of returning home one day. Those buyers in particular will like the fact they can buy more for their foreign-earned money in Australia’s housing market, than those dollars would buy them in their offshore market.
3. Your home housing needs have changed over time
Life looks different at 50 than it does at 25. Children, animals, recreational items find their way into our domestic lives.
A home that seemed ‘roomy’ pre-family, can today feel like the bricks and mortar equivalent of a straightjacket.
Likewise, your children may have grown up and left home and suddenly those five bedrooms and six bathrooms are dust collectors.
Circumstantial factors are often signs it is time to sell in order to buy a more appropriate house or apartment or location.
4. Home loans interest rates are rising or falling
Any time the Australian Reserve Bank lifts or cuts the official cash rate, homeowners and investors can experience changes to their mortgage repayments.
This can mean more buying power, or it can mean tighter household budgets. Either way, financial sector changes of any kind can make it time to consider upgrading or downsizing, depending on one’s personal situation and goals.
5. A major national holiday period is coming up
If it is almost Easter or Christmas time, it can indicate a good time to list for a quick home sale. Agents usually receive a spike of buyer inquiries in the lead up to Easter and Christmas because many people want their prospective moves settled before eating chocolate eggs or pulling bonbons.
And, thanks to this seasonal urgency factor, this buyer group are more likely to pay premium prices if it means their pre-holiday home search is over.