Autumn Insights: is this the season to sell?

5 March 2022

It’s the perennial question levelled at real estate agents, when is the right time to sell?

Well, the answer is now. Contrary to popular beliefs that the spring selling season is Perth’s peak for buyers and sellers, autumn is actually one of the most favoured times.

And the combination of the current series of unusual factors, including WA’s hard border coming down this week, rising community cases of COVID and threats of an interest rate rise this year, have agents urging vendors to list their homes sooner rather than later.

Mont Managing Director Matthew Podesta expected it would be at least a month before any impact of the hard border reopening would be felt in the property market.

“While there’s no guarantee that we will see people leaving WA en masse as a result of the border restrictions being lifted, what we may see is a cohort of people returning home to Perth and this could put upward pressure on the market,” Mr Podesta said.

“There is an air of local buyer apprehension at the moment, and for good reason.

“Many people are nervous about the COVID situation and we’re not entirely sure how that’s going to affect the property market in the short to medium term. Then there’s the constant speculation about interest rates rising.”

CoreLogic’s Hedonic Home Value Index, released on March 1, shows Perth property prices rose by a subtle 0.3% in February, bringing the annual increase to 8.6%. The median property price for Perth is now $535,335.

But the price growth is not a patch of what has been seen in other capital cities this year. Brisbane recorded the biggest annual rise with a 29.7% jump in values in the 12 months, Hobart recorded 26% and Adelaide 25.8%.

The number of advertised listings in Perth has dipped 4.3% in the past year.

Mr Podesta said if owners were considering a sale this year, they should not delay.

“All-in-all, it’s action time in the Perth market. If vendors want to capitalise on the busy market, the time is now. We aren’t sure what the market will look like in three months’ time, especially with the constant noise about interest rate rises,” he said.

“Autumn is generally a buoyant market, with similar attributes to the spring selling season.

“If you’re preparing your home for an autumn sale, be mindful that gardens can quickly become untidy, so regular maintenance is crucial to keeping the outdoor appeal of your home.

“You might also want to turn your attention to indoor spaces in your home with the onset of winter, particularly areas where you might want to entertain and spend time given our ‘new normal’.”

If you’re considering taking your home to market this autumn, give the experts at Mont a call. We’ll be happy to help.

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