Selling your house in 2018? Four things to consider
The pre-Christmas rush is over – but for anyone who didn’t manage to move before the New Year approaches January and February can be the perfect month to consider big changes – including relocation. Here we share four key insights for anyone looking to sell up and move on in 2018. How long should I wait to sell? As the end of the financial year coincides with the middle of 2018, moves within the first quarter tend to enjoy more stable conditions financially as far as the economy is concerned. Upheaval in June can introduce a much better climate for sellers or buyers – but the pendulum can swing either way and things can change quickly. Whilst it’s tempting to hang on and wait to see if market conditions improve, rapid changes within the economy and the microclimates of states and areas could mean you’re better off moving on sooner rather than later. Enlist the help of an expert real estate agent with specific local knowledge to help you to decide when the best time may be to take action. You may need to get started sooner than anticipated – or hold on a little longer than you originally wanted to. What’s the forecast like for buyers? Property prices differ greatly depending on where you are based – but the general trend is a significant cool-off in property prices across the country. This isn’t necessarily good news for sellers on the surface – but it could accelerate property sales over the next few months – especially as first-time buyers become more active again. It’s also worth thinking about the cost of moving on if you are selling to relocate – as the balance may not be in your favour right now, but could shift as the year progresses. How might 2017 trends affect my sale/purchase? According to Domain.com.au 2018 will bring a number of important trends that sellers and buyers need to be mindful of when deciding where to live, and when to up sticks. Rising mortgage rates coupled with a preference to remain and refurbish offer contrast against lower prices and investor step-back, allowing first-time buyers to come back into the market. The current climate varies massively depending on the state and area you’re looking to sell within. With an uncertain year ahead and conditions likely to change rapidly across the board, it’s well worth asking professionals for their advice and opinion before making a decision to sell up. Overseas investment continues to push up prices Continued investment from overseas developers and investors –many from Asia – continues to raise property prices throughout Australia, primarily in CBD locations. This is great news for sellers – but if you’re looking to relocate and move on to pastures new, you may not see the benefit. Professional property developers and those with investment portfolios may decide to sell now – or hang on until April or May to see whether inner city prices continue to rise. Selling in 2018? Get in touch now to discuss your requirements with us.