Less selling competition means that many buyers are willing to pay more for some properties in winter because it can be harder to secure a home. There’s an old saying that you should buy in spring and sell in winter, but if you want to take advantage of the winter selling season then time is running out.
Those thinking of selling should also be keeping their eyes on interest rates. At present interest rates are at the historic low of 2 per cent. While they may still go lower, some are predicting that they will go up again as early as next year, which will affect buyer activity.
In fact, even if the Reserve Bank doesn’t lift interest rates, the banks might. Tougher lending restrictions have been placed on investors to help soften the Melbourne and Sydney markets and there’s a possibility that they will get tougher still, so many investors are trying to secure properties as soon as possible to lock in lower interest rates.
However, while the current market is proving to be favourable for sellers, people are looking to buy property in Bacchus Marsh all year round, and there are no signs that the market will slow down any time soon. The only right time to sell is when it’s the right time for you and your property.
If you would like to chat about the right time to sell your property then get in touch with one of the Arbee Real Estate team.