| Winter is surely upon us – these icy cold winds cutting through our streets have forced many of us into hibernation! The property market hasn’t been cooled so much - Sydney dwelling values increased by 0.2% in the first two weeks of June, partially reversing the 1.1% decrease we experienced in May, and auction clearance rates still healthy at 67-72%. |
Our current growth cycle has seen us enjoy a 21% increase in dwelling values since the beginning of the growth cycle in June 2012 – 16% of which has occurred in the past 12 months alone. If history is anything to go by then we know it is rare for a cycle of growth to last longer than two years in Sydney.
This slowed rate of growth I predicted would happen after the first quarter of 2014 is not all bad news for homeowners. It could signify a change in housing market conditions towards a more sustainable level of growth moving forward. It is also important to remember that we only hear about Sydney-wide statistics. The high demand for housing in the Northern Beaches always sees us erring on the higher end of the city average.
Many punters wax lyrical about the Spring property market as the only season in which to sell. Whilst the hype of the Spring selling market is infectious, it can also be difficult to achieve a premium price due to the lack of competition.
When the market is flooded with properties in Spring, the buyers are spoiled for choice. If they miss out on yours, there’s another to buy around the corner. In the cooler months, you have less competition as a vendor - there are fewer homes on the market, and purchasers are motivated by having fewer homes to consider. Selling in Winter won’t leave you out in the cold, that’s for sure!
Are you considering selling your home in the chilly months to come? Get in contact with me to discover the value of your property under current market conditions. The value of your home may have changed since last appraised.
Thanks for reading,
Tony
This slowed rate of growth I predicted would happen after the first quarter of 2014 is not all bad news for homeowners. It could signify a change in housing market conditions towards a more sustainable level of growth moving forward. It is also important to remember that we only hear about Sydney-wide statistics. The high demand for housing in the Northern Beaches always sees us erring on the higher end of the city average.
Many punters wax lyrical about the Spring property market as the only season in which to sell. Whilst the hype of the Spring selling market is infectious, it can also be difficult to achieve a premium price due to the lack of competition.
When the market is flooded with properties in Spring, the buyers are spoiled for choice. If they miss out on yours, there’s another to buy around the corner. In the cooler months, you have less competition as a vendor - there are fewer homes on the market, and purchasers are motivated by having fewer homes to consider. Selling in Winter won’t leave you out in the cold, that’s for sure!
Are you considering selling your home in the chilly months to come? Get in contact with me to discover the value of your property under current market conditions. The value of your home may have changed since last appraised.
Thanks for reading,
Tony