One of the most frequent questions our real estate agent team gets asked is: “When’s the best time to buy/sell property?”
With all that’s going on right now, we’re hearing this question a lot – and our answer may not what you would expect.
All of the latest news, predictions and updates about Sydney real estate might be leaving you a bit confused about what lies ahead. So, let’s delve into the situation and see what’s going on right now.
The Australian property market in 2022
First, let’s address this.
Unfortunately, the media has been out there recently making a lot of noise about volatile property markets and spreading a lot of news about worrying times ahead for real estate. However, it’s always important to look at the whole picture when deciding the opportune time to buy and sell.
For more, read Rising interest rates: here’s why you should not worry.
While there’s no doubt that the market has stabilised over the last few months, Peter Mosedale, Director of Upstate, has defined this period as a “price correction” across Australia.
Despite this, Sydney’s Northern Beaches suburbs are in a unique position right now, as there’s an enduring trend of high rental yields and great capital growth, especially due to upcoming local developments and infrastructure upgrades.
These Northern Beaches infrastructure investments are driving a lot of healthy growth into the area, which is insulating our region somewhat, not only now but also into the future.
Have a read of our Sydney Northern Beaches 2022 Infrastructure Update to learn more
Sydney’s current growth rate sitting at -4.5%, the Northern Beaches continue to demonstrate strong capital growth. Notably, Newport property prices have increased 27.6% and Balgowlah 22.3% in the last 12 months.
What does this mean for buying and selling in the Northern Beaches?
From our extensive experience and the current figures, we see an opportunity to take advantage of this upcoming market and make the most of selling your home or investing in the region.
So, while the overall Australian property market may be plateauing, constant infrastructure investment and Sydney suburb development are continuing to drive capital growth and high rental yields – which can benefit both buyers and sellers.
Why now is still a great time to sell your property
With warmer months and longer days setting in for the next few months over Spring and Summer, we expect the real estate market to naturally experience a spike in the number of buyers and an increase in the number of homes for sale.
Upstate has seen this happen for the last 100 years, and this year isn’t any different!
If you’re thinking of selling your property, now is an opportune time to act. Here’s why:
- More buyers
The warmer Spring and Summer seasons can often see an influx of buyers within the marketplace as it’s a convenient and comfortable time to buy. Buying now allows people to settle into their homes before the holiday period, while also allowing children to finish off the schooling year at their current school.
- Increased buyers = more competition and more offers
This part of the year can see higher sales prices due to the increased demand in the market. More competition between buyers drives up the price which can help achieve your asking price or a great result at auction.
- Warmer months mean a warmer “mood”
Sydney’s weather over the next few months typically involves plenty of sunlight, nice breezes and fresh days. As a result, people have lots of energy and are excited to be out, especially across Sydney’s Northern Beaches. These conditions all make homes present really well, increasing their appeal.
Read 5 tips to prepare your property for sale in Spring to get your home prepped to sell well.
Remember, it’s always best to seek personalised advice from a real estate property expert to maximise your selling opportunity to get into the market and capitalise on future property growth.
Upstate can help you navigate the changing property market
While market conditions are something we all have no control over, our Upstate team is always here to help guide you every step of the way to reach your property goals successfully.
With the warmer months here now, investors who are looking to cash in can sell and upgrade into one of the development projects currently available via Upstate.
If you are a buyer looking to purchase your dream property, we can also address your financial concerns about your borrowing capacity by reviewing different lenders, forecasting repayments and determining the loan you need.
So, whether you’re looking for a sign to sell or you just want to discuss your options as a buyer, talk to us.
Let’s help you find yourself in a better place
Our Upstate real estate specialists can make your property goals come true. That’s because we’re a big agency, with the heart and determination of a boutique one.
Speak to your local Upstate team today and we’ll show you the possibilities that earn excellent results. We look forward to chatting with you soon.
The Upstate team
