Late last year there were plenty of people wanting to buy but not so many selling. This drove prices up for those people who did manage to get on the market before Christmas. In fact, property rose 15.2% in Sydney.
By the time the election was over, many potential sellers were then thinking about Christmas and holidays so they put selling in the too hard basket. Over the holidays, people have had time to think about what they want to achieve this year and many have now decided to sell. Many seller's have been working on their houses and getting them ready for sale so that they can be on the market in February/March.
February/March is a great time to sell as the weather is usually beautiful and warm and shows the house in the best light. Many sellers will be keen to get that house sold before the cold weather hits. April will be particularly busy with Easter, Anzac Day and School Holidays, so most people will want to be well and truly settled before then.
The buyers who missed out last year are still looking, and many new buyers are hitting the market after making new year resolutions to buy or upgrade their home. Those buyers are aware that interest rates will probably rise at some point in time so they’re keen to get locked in as soon as possible.
All of these factors combined mean that February/March is going to be big for Real Estate.
If you require any real estate assistance, whatsoever, please do not hesitate to contact me.