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SPRING IS TOP SELLING PERIOD FOR PROPERTIES
Two out of the top three months for property sales occur during spring according to Shane Kempton, Chief Operations Officer, Professionals in Western Australia and the Northern Territory.
Mr Kempton said that Professionals traditionally found the months of October and November were the two busiest months for real estate sales next to March.
“Professionals have already recorded a strong rebound in sales during October 2017 and we expect this trend to continue into November.
“Property sales tend to surge during the Spring months because many people hold off making a decision to purchase a home during the winter months.
“In addition, people who are relocating at the start of the calendar year such as teachers tend to buy a home during the spring months rather than waiting until the last moment to purchase a new home.
“During the Spring months, there is also strong activity by investors who generally decided to purchase additional investment properties after they have completed their tax returns for the previous financial year.
“For home owners, the Spring months therefore represent an excellent time to list their property for sale because there are significantly more buyers in the real estate market.
“Even though the number of houses listed for sale has increased during recent months, there is still very strong demand for properties throughout Western Australia because of the booming State economy.
“Timing is everything when selling a home and that’s why property owners should list their home for sale during periods when buyers are more active in the real estate market.
“If anyone is considering listing their property for sale during the next six months, they should bring their plans forward and take advantage of the strong buyer demand during the next two months,” he said.
Mr Kempton said that property buyers wanting to purchase a home during the spring months had to be highly organized because of the increased competition from other people wanting to buy a home.
“Property buyers should also use a reputable real estate agent which can be a powerful tool in finding a home. Select a real estate agent who specialises in the neighbourhood in which you want to live and the type of home you want to buy.
“Real estate agents have niches, and usually they are in a particular area. Find out which agents sell the most homes in the area you want to live.
“Once you have found a home, be in a position to purchase the property. It is therefore important to get your finances in order and talk to a mortgage broker or direct lender about becoming pre-qualified for a loan.
“A home buyer is in a much stronger negotiating position if they have finance approval when making an offer. Knowing how much you can borrow will also narrow your search because you will know the type of home you can really afford.
“You should also make your first offer your best offer because many property buyers lose out on their dream property because their initial offer is too low,” he said.