November 17, 2021

Property market to soar through Christmas

Historically, the Christmas period sees the property market quieten after the rush of the spring selling season.

That’s not set to be the case this year as more and more homes come to market in the wake of eased restrictions.

In fact, this festive season, it’s expected there will not be a slowdown, with experts predicting transactions will occur right through Christmas and well into the new year.

If you’re buying or selling a home this Christmas, here’s what you need to know…

No slowdown in sight

Spring is generally the prime property time of the year, but this year’s spring selling season was delayed by ongoing lockdowns in a number of states and territories.

Now those restrictions have eased, a flood of listings have hit the market, giving buyers more options and choice when it comes to buying a home in their desired area.

Meanwhile, these properties are selling quickly, due to pent-up demand from people looking to change their lifestyle and secure their new home.

And a couple of important figures highlight this trend:

  •         Auction volumes have surged 79.4 per cent since early October, with over 3000 properties going to auction nationally each week in November, according to CoreLogic.
  •         Properties are selling at their fastest rate in five years with weekly sales volumes also reaching their highest level this year, according to data from REA’s PropTrack

Tips for sellers

If you’re wondering whether now is the time to sell your property, the above data highlights the fact that while there are more properties on the market, it’s barely keeping up with pent-up demand.

Buyers remain keen to secure their home, and in many states, they’ve spent the past few months planning on ways they can achieve that dream.

In other words, conditions remain positive for vendors who are looking to sell their property and capitalise on a market where prices are good and buyers are looking to purchase quickly.

As to how long this market will last, it remains to be seen, so now is indeed a good time to sell.

Tips for buyers

Buyers are in the fortunate position where they now have more options, due to an increase in listings, but the market is still moving fast.

That means, you need to have all your financial ducks in a row if you’re serious about purchasing.

This will be particularly important over the Christmas period where public holidays might delay final financial approval and settlement.

Meanwhile, serious buyers should be proactive about what they are looking for, reaching out to agents in their area with their property wishlist, so they can be added to the agency database.

As we mentioned, properties are selling quickly, so it pays to be on the priority list when a new home is coming to market.

Looking to buy or sell?

If you’re considering buying a property or perhaps selling your existing home, why not chat with one of our friendly Eview agents on 1300 438 439?

You can also view our list of current off-market properties here.