Why should you buy or sell in Winter?
Markets Remain Positive Across Most States
The property market is still very positive, but not as bullish as it was at the beginning of the year. After dwelling values surged more than 75% higher over the past five years, Sydney dwelling values have increased by 0.8% over the three months to June 2017 and are 12.2% higher over the past year according to CoreLogic Australia’sHousing Market and Economic Update for July. Melbourne and Brisbane home values increased by 1.5% and 0.5% respectively over the three months to June 2017 and are 13.7% and 2.0% higher respectively over the past year. Melbourne dwelling values have recorded the greatest annual growth of all capital cities over the past year while Brisbane home values increased by just 16.9% since the end of 2008.
Home values fell in Adelaide, Hobart and Canberra over the three months to June 2017, however values increased by a cumulative 17.6% since the end of 2008 for Adelaide, 15.5% over the past decade for Hobart and a strong 39.1% increase in Canberra since 2008. Perth home values increased by 0.1% while Darwin values fell by -5.2% over the three months to June 2017 with both Perth and Darwin values declining over the past year.
Why Winter Is Often Winning
Vendors are often hesitant to list their homes in the colder months which can often lead to reduced stock levels (and therefore competition) during this period. With buyer and market attitudes still positive, listing homes in winter can place sellers in a strong selling position while other vendors wait for the typically energized spring season.
With continued record low interest rates combined with media chatter about market cooling, winter is showing great potential for capitalizing on continued positive market conditions. You may want to review your current situation to examine your level of equity for extended investment, or perhaps consider fixing your current mortgage at current low rates.
I'm looking to
Understanding the fine details of the many home loan options out there is often confusing and complicated. HomeLoanReport.com.au makes the process of gathering and understanding the information easy for you. You will receive a report with borrowing capacity, estimated loan repayments, and more, as well as a chance to chat with a home loan professional to discuss your requirements. All of this is absolutely FREE. Request your home loan report today for the chance to potentially save thousands on your home loan.