Spring is traditionally the most popular time to buy and sell property in Australia. Buyers can always be confident there'll be plenty of properties to inspect, while sellers believe the return of warmer weather will improve their sale price.
And in normal times, they'd both be right. But with mortgage costs having risen as the Reserve Bank endeavours to dampen inflation, what will the property market be doing this spring?
Buyers, especially, want to know whether they'll see reduced vendor price expectations. On the other hand, sellers will be determined to hold their price as much as possible.
Property prices & economic fortunes go hand in hand with buyers needing to feel confident of the future.
Our opinion on likely market behaviours you're going to experience over the next 6months.
Wider selection of properties
The upcoming spring campaign has begun slowly with the weather still waiting to heat up and we believe that February to May 2025 will see the greatest number of properties come to market.
Data details
CoreLogic, a collector of industry data, suggests that while we'll have a strong selling season, it won't compete with the 2021-2022 year's exuberance, which broke all sorts of records. We'll see buyers more cautious due to the rising interest rate.
Seller flexibility
If you're set on moving, you'll need to consider comparable sales. Buyers are well researched and knowing the market mood has changed, they'll be looking for sellers that are willing to negotiate settlement terms.
The sensible approach is to negotiate a deal that suits both the vendor and the buyer.
We offer no obligation, no cost property appraisals for Residential Homes, Lifestyle Acreages and Larger Rural Properties across the Port Macquarie Hastings region.
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