Selling your property this Spring? Here’s everything you need to know.
Spring is just around the corner!
Soon enough, everything will be in full bloom, the sun will be warm, the drinks ice cold, the water will be perfect and we’ll all get a dose of season fever.
No wonder it’s the time of the year when real estate buyers and sellers (encouraged by the longer daylight hours and the fine weather) are excited to venture out and about and look for their next home or investment.
The market is ripe for selling!
So, to help you make the most out of your property sale this Spring, we’ll share some valuable insights about the Spring real estate market to help you.
First, let’s spotlight the Sydney property market
While Spring has traditionally been a season for a real estate selling boom, you may have heard all the doom and gloom news about a recession, real estate downturns and rising interest rates over the past couple of months.
But – what’s the actual truth?
To set the record straight, here are some key considerations about the Sydney property market today from facts and our first-hand experience:
- Sydney leads the home price recovery after leading the downturn.
Prices in Sydney have now regained most of the decline in values in 2022. After a 36.3% drop from the decade average in the spring selling season of 2022, home prices have consistently risen for 8 months and are now 5.26% higher compared to the lowest point in November 2022.
In comparison to the 2022 peak, the Northern Beaches property market is looking great!
2. There is still an undersupply in the number of capital city homes for sale.
Although the RBA is keeping the door open for rate hikes after holding the cash rate at 4.1% in July, the undersupply in the housing sector may provide some support for property values.
The number of capital city homes for sale remaining at 26% below the previous 5-year average, the record net of overseas migration and the tight rental conditions could help offset the impact of higher interest rates.
For more information about interest rates and its effect on the property market, read: Rising interest rates: here’s why you should not worry.
3. The Northern Beaches is at its finest during the Spring season.
One of the key reasons why the Sydney property market historically does well in Spring is because the desirable weather conditions enhance the overall look and feel of properties – especially along the Northern Beaches!
We have some of the most desirable suburbs in NSW, which works well if you’re looking to sell. Demand is always quite high here!
What does this mean for Sydney homebuyers and sellers?
When you get through the news and look at the facts, it’s looking pretty good!
According to Westpac’s latest forecast, the tight rental market, low housing supply and surging migration could result in an increase of up to 10% in Sydney house prices.
Furthermore, the RBA’s decision to keep rates on hold should attract more buyers – which gives sellers more negotiating power as buyer sentiment and confidence continuously improves.
So, if you’re planning to sell, these are some pretty favourable conditions to get strong competitive offers on your property.
So, should you sell your Sydney property in Spring?
Definitely!
You may have heard people saying, “Sell in Spring!” – and while this is not the hard and fast rule, it certainly does offer several advantages that will help you make the most out of your property sale in Sydney.
Here’s why it’s great to sell Sydney real estate in Spring:
- The Spring weather improves your property’s aesthetic appeal.
A lot of property decisions are made based on how the buyers feel about the property; and the lush greenery, sunshine and ideal weather contribute to this feeling.
If you need help with staging your property to make the most out of this welcoming season, reach out to our Upstate property concierge team.
- Extended daylight hours make viewings more convenient.
With longer daylight hours, you can arrange more property viewings and increase the chances of your property getting noticed by the right buyers.
The more opportunities interested buyers have, the better the competition.
- Buyer activity significantly increases during Spring.
Beyond the aesthetics and the practicality, selling in Spring is also a strategic move as buyers tend to get excited during this season, which results in higher demand and more competitive offers.
At Upstate, we’ve observed first-hand that this season encourages people to literally spring into action:
How can you take advantage of the Spring Sydney Property Market?
As the springtime proves to be a seasonal peak in the real estate market every year, it helps to know how you can take advantage of the increased competition and the higher property sale prices to seize that great sale result!
Here are some of our tips for a successful Spring sale in Sydney:
- Get to know the local market.
Whether you’re buying or selling, research is always a great first step.
If you’re reading this article, then you’re already on the right track – you now have insights about the Sydney property market, the benefits of selling your home in Spring and the behaviour of real estate buyers during this season.
Tick!
- Prepare your property for sale.
Preparing your home before you sell will increase the value of your property and make a real impression on buyers. The more appealing the property is, the more competition from buyers, the better the results. Reach out to our Upstate property concierge team for help.
For more, read: 5 tips to prepare your property for sale in Spring.
- For the best results, work with a trusted Northern Beaches agent.
Spring is a major selling season in Sydney’s Northern Beaches – this means more competition, a lot of prospective buyers and tonnes of work to do.
At Upstate, our experienced Sydney Northern Beaches real estate agents walk you through a successful Spring sale and help you every step of the way. In fact, we organise a September Sell Out campaign so our clients can take advantage of this season.
Join this year’s September Sell Out Campaign!
30+ properties have already signed up for the biggest event for Property Sales on the Northern Beaches where we host two big Auction nights:
- 14th September
- 28th September
With 8,587 total enquiries, 1577 open home attendees and a 100% auction clearance rate in 2022, the September Sell Out Campaign allows you to sell property in a strong market before it changes.
Learn more about the campaign here: Upstate September Sellout Auction Event.
Let’s help you find yourself in a better place this Spring season
Our Sydney real estate specialists can make your Northern Beaches 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 to learn more about the Spring Property Market or get a free appraisal on your property – we’ll show you the possibilities that earn excellent results.
We look forward to chatting with you soon.
The Upstate team
