Property market set to blossom this spring
Spring is here, and so is the buzz in the property market! As we head into spring 2024, this season is poised to be a standout period for real estate. Here’s how to get ready if you’re planning to buy in the coming weeks.
At last! It’s time to pack away the winter woollens and dust off the t-shirts and shorts.
Spring is just around the corner, bringing a vibrant energy to the property market. Sellers will be preparing their homes to attract eager buyers, making this a prime season for real estate activity.
Spring has always been a popular time for both sellers and buyers. Gardens come alive, the warmer weather invites us outdoors, and many aim to close on a new home in time for Christmas.
But this spring 2024, there’s an extra reason why the property market is set to be especially bustling.
20% more homes to choose from
Over the past decade, spring has seen new listings jump by more than 18% across the country, according to CoreLogic.
This gives buyers a wider selection of homes to choose from – and they certainly take advantage of it. Home sales across the country typically rise by more than 8% in spring.
This year, buyers could have an even bigger choice of homes to pick from.
According to CoreLogic, autumn and winter have seen real estate listings flow onto the market at an above average pace.
That’s seeing the market shift towards more of a balance in supply and demand – especially compared to last year, when sellers had the upper hand.
Even so, buyers should prepare for the spring selling season.
Quality homes don’t stay on the market for long. In Perth, for example, the median selling time is just 10 days at the moment, so buyers who act fast can have a competitive advantage.
3 steps to give yourself an edge
In the fast-paced spring market, home buyers could put themselves ahead of the competition by following three simple steps:
1. Establish a wish list
The more properties you inspect, the easier it can be to lose track of what you really want in a new home.
Cut through the confusion by making a list of must-have features. Follow this up with a rundown of features that are nice but not essential.
Having a wish list to work from can be a real time saver as it lets you focus on properties that tick all the boxes for your ideal home.
2. Know what you can afford
There’s no room for guesswork when it comes to buying a home.
Talk to us for a clear idea of your borrowing power. This lets you set a buying budget so you know which homes sit comfortably within your price range.
3. Have your home loan pre-approved
Nothing says you’re a serious buyer like having mortgage pre-approval. It’s a simple step that can eliminate a large part of the stress associated with home buying.
And if you’re buying at auction, pre-approval lets you bid with confidence while setting a clear limit for your highest bid.
We can help you arrange home loan pre-approval for a loan suited to your needs.
We’ll spring into action on your behalf
As the weather starts to heat back up, so too will the housing market. So if you’re looking to buy, now is a good time to get organised so that you’re home loan ready if the opportunity arises.
Don’t miss out on the spring property boom! Secure your pre-approval now and gain a competitive edge in the bustling real estate market. Call us to get started!
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
Comments