Spring the best time to sell-up
Deciding when to sell your property can be a tough decision, with a number of factors impacting on ...
Deciding when to sell your property can be a tough decision, with a number of factors impacting on the success of a sale.
With this in mind, recent figures released by the Real Estate Institute of New South Wales (REINSW) reveal that spring is the most favourable time to put your home on the market.
Christian Payne, president of the REINSW, said the data substantiated the belief that the spring selling season is the market's boom time.
"The warmer weather means people can really show off the positive parts of their homes and many are ready to pound the pavement to look for a new place to live," Mr Payne explained.
"Importantly from a buyer's perspective they are able to take possession of the property well before the Christmas and New Year period if they take a standard 42-day contract."
The figures also revealed the worst time to sell real estate, with Christmas and the New Year period recording the weakest clearance rates of the year.
Mr Payne said this was partly due to a slowdown in the industry, with less auctions taking place during this time.