November marked a turning point for the Australian economy, with house prices showing consistent growth across all capital cities and regional areas since July. In any other ordinary year, buyer demand begins to taper off around this time, as the Christmas and New Year period fast approaches.
With the disruption to the market throughout 2020, experts predict that the fall-away in demand won't be as severe as it usually is over the holiday period, with levels of demand remaining much higher than a year ago (up 38.1 per cent year-on-year) thanks to extremely low borrowing costs.
With all the recent news about a nation-wide property market recovery, you might be wondering: “Should I sell my home?” The good news is that most regions around the country are showing strong signs of recovery, with experts predicting the market will continue to pick up later this year and into early 2021.
So, if you’ve been thinking about selling your property, now is a great time to start preparing to ensure you’re ready to put it on the market in summer when home prices are once again on the rise.
Whether you’re downsizing, moving to another suburb or selling an investment property, putting your property on the market can be overwhelming. After all, there’s a lot to think about: How much should I ask for? How do I choose the right agent? What do I need to do to secure the best sale price?
To help you get started, we’ve rounded up our top tips for preparing to sell your house this summer.
Do your market research
Knowledge is power when it comes to selling your home. Here’s what you need to consider before it goes on the market:
- The value of your property – Get a property estimate online, or have your home appraised by a real estate professional. This will tell you how much you can expect for your property, and what you can reasonably ask for.
- Market trends – Research your suburb to see how property price growth is tracking in your area. Ideally, you’ll want to sell over the summer if prices in your area have been trending upwards in recent months. Your real estate agent should also be able to provide you with the market trends in your area during your home appraisal visit.
- Average time on market – Find out how long you can expect to wait before your home sells after you put it on the market.
Start prepping your home now
Selling during summer gives you the advantage of flowers in full bloom and great natural light. But for your home to look its best when it goes on the market, you need to start preparing as soon as possible. Get to work in the garden planting new plants in early spring, and make a list of any repairs or maintenance that needs to be done so you have ample time to take care of it before it’s time to sell.
Sell the summer lifestyle
Make sure to let your buyers really envisage themselves relaxing outside or entertaining guests this summer by paying special attention to outdoor fixings and garden appeal.
Selling through the holidays?
While selling in summer gives you the opportunity to showcase your home in its best light, you also want to make sure that your property is on the market at a time when there’s plenty of buyer interest. In ordinary times, the holiday period tends to signify a decrease in property transaction activity, but with the disruption to the market throughout 2020 thanks to COVID-19, experts predict that the fall-away in demand won't be as severe as it usually is over the holiday period. The latest buyer demand report from Realestate.com.au shows that levels of demand remaining much higher than a year ago (up 38.1 per cent year-on-year) thanks to extremely low borrowing costs.
Timing is everything
With the festive season and public holidays, it is important to keep in mind that schedules change as people become very busy. Although suspensions to international travel means that more Aussies are home this holiday season, if you're holding inspections, make sure you discuss with your real estate agent the optimal frequency to ensure all potential have a chance to view the property. It's also a good idea to have your open for inspections in the morning, particularly if the weather is scorching.
Choose a qualified real estate agent
Picking the wrong real estate agent can end up costing you thousands of dollars and causing you a huge headache, so it pays to do your homework before making a decision. Here are some of the key things to consider:
- Track record/reputation: What properties have they sold recently? Do they have positive online reviews?
- Sales/marketing plan: How will they promote your property and how many open homes will you have?
- Fees and commissions: How much of a commission does the real estate agent charge, or do they operate on a fixed-fee basis? Do they include marketing in their fees?
- Service: How will they keep you updated throughout the selling process?
Upside is a fixed-fee real estate agent, which means you’ll never pay a commission should you choose to sell your property with us. We charge a flat, cheaper fee (no matter how much you sell for) that covers all the essentials for selling your home.
Want a better deal when selling your property? Find out what’s included in our real estate agent services, and book a no-obligation property appraisal to get started.