You may have heard the buzz around the “spring selling season”, but what exactly does it mean for buyers in south west Sydney?
Let’s delve into the current market conditions to determine if this season really is a great time to sell – or if it’s just media hype.
A blooming market
Spring is more than just about blossoming flowers and warmer weather; it’s notoriously the peak season for real estate activity. But what makes it prime time in real estate?
An active market: The longer, brighter days undoubtedly draw people outdoors to take part in activities, including attending open homes. This season is already shaping up to be a bumper season with Sydney experiencing its busiest end to winter in more than a decade, with new listings up 18.4% year-on-year, according to the latest PropTrack Listings Report.
Competitive landscape: You might be thinking competition isn’t great for house prices, but it’s not something we’re seeing this season! We’re seeing house prices continue to climb, with Sydney witnessing a 0.47% hike in August alone.
The price is right: When there’s more competition, it’s vital to pay close attention to your agent’s advice on pricing. They have their fingers on the pulse of recent sales and can provide invaluable insights that online calculators cannot. It’s crucial to price your property competitively, ensuring a swift sale rather than risking it stagnating on the market.
Homes shine brighter in spring
Spring has a way of enhancing a home’s aesthetic appeal:
Lush gardens: Unlike the barren winter landscape, gardens erupt in a riot of colours during spring. This only amplifies your home’s curb appeal, paving the way for a great first impression. If you’ve let your garden run rampant over winter, there’s no need to panic – that’s nothing a trip to the nursery can’t fix.
Better lighting: With the sun tracing a higher arc across the sky, homes are basked in more natural light. This can bring out the natural colours of your home and garden, helping to showcase it in the best possible light (excuse the pun) for photography and open homes.
Optimal comfort: The mild temperatures of spring create a more inviting atmosphere for potential buyers during open homes.
Christmas is just around the corner
While it may feel like we’ve only just bid adieu to the festive season, Christmas is only 14 weeks away! This looming deadline is significant for sellers who want to be their new home for Christmas or get their kids into their new school for the start of the year. Consider this: you may need to spend a couple of weeks (at least!) preparing your home, then add six weeks to find a buyer and another six weeks to settle. Throw in the mix the time it takes to find your new home and Christmas will be here before you know it.
Rising consumer confidence
We’ve been talking a lot about the cost of living crisis for a long time now, with mortgage holders naturally among the hardest hit by the interest rate hikes. But this also means consumers have had time to adjust their spending habits, and it’s starting to show. Australian consumer confidence levels are showing budding signs of recovery, according to data from ANZ and Roy Morgan. In fact, the confidence levels among mortgage holders surged by 4.1 points, marking its highest in over seven months.
Wrapping up
In light of the buoyant market conditions, favourable aesthetics, and rising consumer confidence, spring 2023 might just be the perfect time for you to leap into the thriving market.
Reach out to the team at Prudential Real Estate today to turn this season’s promise into your property success!
Prudential Real Estate Campbelltown | (02) 4628 0033 | campbelltown@prudential.com.au
Prudential Real Estate Liverpool | (02) 9822 5999 | liverpool@prudential.com.au
Prudential Real Estate Macquarie Fields | (02) 9605 5333 | macquariefields@prudential.com.au
Prudential Real Estate Narellan | (02) 4624 4400 | narellan@prudential.com.au
