Figures from CoreLogic RP Data have revealed that in the first week of spring 2015 alone, the volume of auctions in Australian capital cities was at its highest level since May. There were also over 430 more auctions then at the same time 12 months ago.
But with so much stock expected on the market this spring, many vendors have been asking us whether it’s a good or a bad idea to sell, because increased competition can thin out the number of buyers for each property.
While ordinarily it would be worth waiting for less competition, there are just as many buyers coming into the market as sellers, providing favourable conditions for sellers and buyers alike.
There are a lot of forces driving buyers into the Australian property market at present. Buyers are currently out in record numbers to take advantage of low interest rates while they can, with many all too aware that they won’t stay this low forever.
Investors are also jumping on the property bandwagon, in particular overseas investors who are making good use of a low Australian dollar. Volatile international share markets are also pushing investors towards the property market and pushing up property prices around the country too.
If you’re thinking about selling then early spring is generally the better time because there is slightly less competition amongst sellers than later in the season. It also means that you’ll have plenty of time to move out of your current home and find somewhere new in time for Christmas and New Year when things can slow down for a few weeks.
Have a chat to your Arbee Real Estate agent if you would like to discuss putting your property on the market this spring.