More properties are listed for sale in Spring than in Winter.
But serious buyers don’t generally take a ‘holiday’ from property inspections just because it’s cold outside. In fact, the need for a bigger, better home is more poignant mid-year as we’re forced to stay inside more!
So Demand from Purchasers is broadly the same in Winter as it is in Spring, but Supply of Properties for Sale is dramatically less in Winter. The result is as expected…
The above graph shows that % Auction Success Rates have been significantly higher over the last 3 Winters in Melbourne than they have in Spring. Lower Supply of properties for sale translated into less choice for buyers, and hotter competition At Auction.
As we move into Winter, buyers will inevitably get frustrated by the lack of stock available to them. But try not to make emotional purchasing decisions – in other words, don’t decide to bid higher just because of limited choice. Look rationally at the property, and know that it’s only a matter of time before other similar properties are listed for sale.
And if you’re a vendor thinking about waiting until Spring? Wake up!! Ask yourself why you wouldn’t want to list when there are fewer competing properties for sale on the market.
For what it’s worth, I always prefer to sell during Winter. It’s pretty much the only period where I strongly consider selling my development properties off-the-plan. And as a Buyers Advocate, it’s the time that I work my network the hardest for off-market and newly listed opportunities.
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