Ah the spring time, young blossoms emerging from the trees, that warm wind that tells you winter is finally over and its time to buy your dream home. Real estate agents in the Eastern Suburbs have noted a cyclical change in the number of homes for sale as well as the the selling prices at different times of the year, with a definite increase during spring time and a slight dip in cooler autumn and winter months.
Perhaps spring brings a sense of hope along with the warm weather?
With an impending interest rake hike looming, this spring is set to witness an influx of properties for sale. Elliott Placks of Ray White Double Bay advises that this season would be a great opppurtunity for people still looking to sell their homes in the ‘boom’ period…He went to on to say that they are expecting at least a 30 perecent increase in sales volume, most notably for homes in the $1 to $2 million price range.
Sellers confidence is being spurred by great demand with people continuously achieving their asking prices and in some cases even more.
Does the massive demand put buyers at a disadvantage? To answer this question there is a saying in the real estate industry, “The best time to buy a property was 20 years ago, the second best time is now.”