End of financial year to drive autumn property markets
Media release - 5th April, 2016
The impending end to the 2015/16 tax year is set to help drive real estate market activity in autumn, according to Angus Raine, Executive Chairman, Raine & Horne.
“With the end of the tax year fast approaching, many investors and self-managed super funds will be weighing up whether to rebalance in or out of real estate assets and will act well before the June 30 cut-off,” says Mr Raine.
“Throw in the threat of a July Federal Election and we expect appraisal, listing and sales numbers to hold their ground in the lead up to the end of the financial year.”
Buyer activity will be consistent in autumn
Real estate has become a round-the-clock market due to the universality of the internet, which means vendors can achieve good sales results regardless of the season, according to Mr Raine.
“Buyers are driven to secure a property for a wide variety of reasons, whether it’s to secure a tax-effective investment for a self-managed super fund, or a home to live in – and the season makes little difference to them,” says Mr Raine.
“If the vendor settles on a realistic price and the property is well presented, it won’t matter to buyers whether it’s spring or autumn.
“Yet the reality is there will be fewer properties for sale in autumn than in the traditional springtime selling months between September and December, when many owners list properties for sale.”
The number of properties for sale in March 2016 was 20% less than September 2015, according to Raine & Horne.
“If there are fewer properties for sale in April and May than September, and more or less the same number of buyers, it stands to reason that an autumn sale can make plenty of sense,” says Mr Raine.
A more pleasurable experience for buyers
“Across much of Australia, autumn is relatively milder than the stickier spring and summer months – although it will be getting chillier in the southern states,” says Mr Raine.
“An autumn open home therefore can present a more pleasurable experience for buyers, who will be more likely to poke around properties with more inviting external spaces for longer than they might at the height of the summer.
“The colourful backdrop provided by autumn leaves may even strike a chord with some buyers looking for the perfect outdoor experience.”
Tumbling autumn leaves, however, means owners need to be diligent with the rake to ensure the exteriors of their properties present in a clean and tidy fashion, advises Mr Raine.
For further media information contact:
Angus Raine, Executive Chairman, Raine & Horne on 0409 920 697
Andrew Harrington, National Communications Manager, Raine & Horne on 02 9258 5400