The Christmas and New Year period has traditionally been a time when real estate activity slows right down. Five or ten years ago, the industry took an unofficial break for most of January – with little new stock coming onto the market before the Australia Day weekend.
These days, however, we’re seeing less seasonality with the market generally. Buyers don’t take holidays when it comes to finding the right property – and, off the back of a softer spring selling season, we expect there will be plenty of buyers searching for opportunities over the Christmas and New Year period.
If you’re considering an early 2019 sale, you should be speaking with potential agents now to ensure you’re in a position to hit the market before other sellers who’ve been less proactive. People who are looking at property in January are usually fairly serious about buying, which means they’re likely to have finance approved and be willing to make quick decisions when required. Many of them may have missed out on buying throughout 2018, and an early-2019 purchase is top of their to-do list.
The end of summer holidays (late January) is a mental milestone for many buyers who are keen to have their property purchase sewn up. A family who’s looking to move to a specific area to be closer to childcare, schools or public transport in the new year may have zeroed in on your local area and be ready to buy immediately if the right opportunity presents itself. Likewise, buyers who have sold their home during spring will be motivated to find somewhere new well ahead of settlement.
With the auction clearance rate low, a lot more vendors are opting to sell via private sale – or even off-market. The holiday period can be a great time of year for this method of sale because you’re not wedded to a sales campaign of a predetermined length. Hosting open inspections is also far easier when you’re not living in the house – speak to your agent about whether they can take potential buyers through while you’re holidaying elsewhere!
If you’d like to speak with a local expert about whether an early 2019 sale might be right for you, contact your nearest Greg Hocking office for a confidential, no-obligation chat. We’d be happy to take you through the pros and cons of selling at this time of year and recommend the most appropriate method of sale to deliver you the best outcome.
Likewise, if you’re looking to buy – let us know. With many people away at this time of year, it’s generally much easier to organise for you to view multiple properties that may be of interest – we can easily take you through a handful of homes that may tick your boxes.