Spring into the market

As we are moving towards the warmer months of Summer, those that are looking to buy a home will notice that more properties are coming onto the market throughout the big cities in Australia, mainly in Sydney and Melbourne.

The offering of more properties gives buyers more choice and often that encourages even more people to look into buying and selling. Therefore, Spring becomes a good time to sell between September through to early December as there is a peaked interest in the market.

The property market has been strong for the majority of 2017, N G Farah have recorded over $327million in sales to date, indicating that the market is still growing and has room for further growth towards the end of this annum. Week on week, we see buyers paying over and above the odds both at Auctions and for those private treaty sales.

In the last few weeks of Winter, we did notice a slow down in activity but this was mainly due to vendors holding off putting their properties up for sale until the start of Spring. We have seen Auction rates in the South Eastern footprint back to up 76% for the 50 reported Auctions last week, with the previous week only reporting 36 Auctions*. This will only continue heading into summer as we know the annual build up to the end of the year usually means we can expect an increase in sales activity and the prices remaining steady.

*Source Core Logic RP DATA