How to sell in an active spring market – John McGrath

In a strong seller’s market, like the one we’re currently experiencing, vendors can sometimes become complacent. With properties in many locations selling within days and enjoying excellent capital growth, often sellers don’t feel the need to attract buyers with a great marketing campaign or stylists.

This Spring, there’s certainly more confidence from a seller’s perspective. Westpac’s newest quarterly Housing Pulse report this month stated: “Buyers are perking up, price growth has lifted, auction clearance rates are rising and supply is tightening.”

Cotality’s September Housing Chart Pack backed up this statement. While the number of national sales listings was down -10.3% in August, compared to a year ago, listing activity rose 9.4% in this month. “Easing interest rates, rising sentiment and stronger capital gain conditions (are) setting the stage for a cracking spring selling season,” the report noted. 

There’s also been three cash rate cuts this year – with possibly more in the future – which has given buyers improved borrowing capacity, while the federal government’s expanded Home Guarantee Scheme will begin on October 1.

But none of this means vendors should sit back and relax this Spring. You still need to be smart when selling, just as you would in any kind of market. You definitely shouldn’t rely solely on our very active seller’s market to enjoy a swift, high sale.