If you are thinking of selling, now is a great time. Buyers don’t wait for the warmer months to purchase their home. Once a decision is made or the deposit amount saved, the hunt is on.
Sellers do have a tendency to wait though. Some for the traditional spring selling season (when gardens are looking at their best) and others in the hope the market will rise sufficiently to meet their price expectations. So there are fewer homes on the market in winter and therefore less competition.
It is forecast that upwards of 800,000 borrowers in Australia will come off fixed interest rates this year and onto a substantially higher variable rate (known as the mortgage cliff). When that happens there is likely to be an influx of homes onto the market, which will create more choice for buyers and have the potential to put downward pressure on pricing.
If you are to maximise your sale price in 2023, waiting may not be the right move.
If we can help you with an obligation free market appraisal, please call one of our dedicated team.
Until next week,
Nick Lord (Director)