This is a classic case of “who made owner-occupiers boss of the traditional spring selling markets.”
Jokes aside, this spring, investors considering a sale can benefit from the surge in buyer interest as much as owner-occupiers, with the latest data from Raine & Horne showing that groups at open for inspections are on the rise. In July there were approximately 10% more groups at inspections than in autumn and an impressive 37% more than summer.
During the pleasant spring months, with lighter and brighter days, property hunting becomes more appealing than the scorching summer or freezing winter months. The surge in demand for properties makes it a strategic move for investors looking to rebalance their portfolios to capitalise on the selling opportunities and list their properties on the market.
At the same time, numerous markets continue to experience limited property listings, providing investors contemplating a springtime sale with an exceptional opportunity to achieve impressive sales outcomes, particularly given the ongoing price rise. CoreLogic reports that Australian real estate prices have surged by 4.1% since hitting a floor in February.
On the flip side, for investors seeking to expand their portfolios, property appraisals in July increased by around 15% compared to April, which means it’s fair to expect that more properties will hit the market as the weather warms up.
Investors and self-managed super funds contemplating expanding their property portfolios should take note of the Reserve Bank’s decision to halt interest rate rises. While there might be more rate rises, it’s fair to expect that we are closer to the end than the beginning of the rate hiking cycle that started 18 months ago. This development presents an excellent opportunity for them to seize the moment this spring and make their moves confidently.
That said, it’s essential that you conduct detailed research on the city, region, or suburb you’re interested in to identify the optimal timing for purchasing and selling investment properties.
Keep in mind that property markets vary across Australia. In other words, what’s happening in Sydney in September might differ significantly from Darwin or regional Victoria. Therefore, explore the local market trends and data to make informed decisions and talk to your local Raine & Horne agent or Property Manager as part of your research.