Chill­ing Out

Keep calm and put your house on the mar­ket in win­ter.

Australian House & Garden - - CONTENTS - #

When the weather’s cold, it’s easy to as­sume that spring is a bet­ter time to sell your home. The sun will be shin­ing, the grass green and birds singing, tra-la-la.

But is it re­ally the best time to sell? Yes and no, ac­cord­ing to statis­tics com­piled for H&G by prop­erty-re­search com­pany CoreLogic. While spring is in­deed the peak time for to­tal prop­erty list­ings, more homes are ac­tu­ally sold in au­tumn, al­beit by a small mar­gin. And list­ings in au­tumn are only frac­tion­ally be­hind spring any­way.

In terms of in­di­vid­ual months, this pat­tern is main­tained. Novem­ber is the peak time for to­tal list­ings in all cap­i­tal cities ex­cept Dar­win, and March the peak month for sales (ex­cept in Ade­laide and Dar­win) fol­lowed by May. Ade­laide has its peak sell­ing pe­riod in June and Dar­win in De­cem­ber.

Not sur­pris­ingly, Jan­uary is the slow­est month na­tion­ally for sales and list­ings – with De­cem­ber sec­ond slow­est – when the na­tion’s at the beach.

“Over the 10 years to Fe­bru­ary 2018, the num­ber of prop­er­ties listed for sale in Novem­ber was 1.5 per cent greater than the sec­ond-high­est month for list­ings, Oc­to­ber,” says CoreLogic re­search an­a­lyst Cameron Kusher.

“Sales vol­umes do not match the vol­ume of list­ings,” he says. “The month of March has the high­est num­ber of sales over that pe­riod, but only the fourth-high­est num­ber of list­ings. May has the sec­ond-high­est num­ber of prop­er­ties sold and the third-high­est num­ber of list­ings. Novem­ber and Oc­to­ber had the high­est and sec­ond­high­est num­ber of prop­erty list­ings re­spec­tively, but only recorded the fourth- and fifth-high­est num­ber of sales,” says Kusher.

But what time of year achieves the high­est price? A team from Swin­burne, Monash and Grif­fith Uni­ver­si­ties found quite a vari­a­tion be­tween cap­i­tal cities when they com­pared home prices be­tween 2008 and 2015 – the first study to ex­am­ine the im­pact of the sea­sons on sell­ing prices.

“Our main find­ing is that sub­stan­tial sea­sonal ef­fects ex­ist for both the small­est (Dar­win and Ho­bart) and largest (Mel­bourne and Syd­ney) cap­i­tal cities, and these are mostly pre­dictable,” said Pro­fes­sor Ab­bas Val­ad­khani from Swin­burne’s Depart­ment of Ac­count­ing, Eco­nom­ics and Fi­nance.

In Syd­ney, July was found to be the best month for achiev­ing the high­est prices for houses, and June the best month for units. In Mel­bourne it was May for both, in Bris­bane Jan­uary/ Novem­ber, Ade­laide April/Septem­ber, Perth De­cem­ber/March, Can­berra March/Fe­bru­ary, Ho­bart Jan­uary/ Fe­bru­ary, and Dar­win March/Au­gust. So it seems only Bris­bane and Ade­laide units fetch the best prices in spring.

Still con­vinced this is the best time to sell? Per­haps the best time is when you’re ready.

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