The post-Christmas and New Year period is usually one of our busiest here at Madeleine Hicks Real Estate.
There are pros and cons to having high market activity at this time. Here’s some basic info on how to look at it, whether you’re buying or selling.
The late summer peak period: Better for buyers or sellers?
The property market usually moves in fairly predictable cycles. Spring is traditionally the peak period, with a lull over the New Year, another bump in late summer into autumn, and a gradual lead-up back to the following spring.
In Everton Park and surrounding areas, we at Madeleine Hicks Real Estate tend to find the post-Christmas period one of the busiest in the whole year, even compared to the spring peak.
So, with our local peak about to hit, is it better for buyers or sellers?
Buyers: The Good
For buyers looking in the 4053 area, the upcoming peak is good news because it means more sellers will be showing properties and trying to capitalise on the market’s activity levels before it levels out over winter.
The other good news is that houses (and units, to a lesser extent) are still priced about 10% lower than the Brisbane Local Government Area (LGA) average. What’s more, this period is also a great opportunity to explore your options while other areas slow down and offer less choice.
Buyers: The Bad
The not-so-good news for buyers looking in late summer and autumn is that they may have less of a choice, as a number of available properties could have already been snapped up before Christmas or taken off the market until the next peak.
This obviously doesn’t apply to the whole Everton Park area (we know that our local market is particularly active at this time of year) but some sellers might not be aware that the buyers are still out there.
Sellers: The Good
We think the current period tends to see a yearly upswing because over 40% of Everton Park’s inhabitants are families and couples who seem to prefer to wait until after the Christmas and New Year period to become active in the property market.
This late peak is good for sellers as potential buyers are going to want to get into their home before school starts and autumn comes along. Urgency is a great driver!
The other positive aspect of this second peak is that it gives sellers a second chance to get a reasonable asking price – they aren’t limited to just one high-activity period before Christmas, and they have longer to make sure they’ve prepared the property as well as possible.
Sellers: The Bad
The only real downside for those trying to sell before autumn is that numbers of buyers will quickly diminish as the weeks go on.
However, with houses in Everton Park spending less than 60 days on the market (compared to the Brisbane median of 65), it seems that buyers are confident and getting in quicker than elsewhere in the area.
What we think
All in all, a lively market is good for everyone, whether they’re buying or selling.
While some buyers and sellers might lessen their attention once the spring/summer rush is over, doing so could be costing them a favourable deal.
Higher activity in the market does mean more competition among buyers (and sellers too!) – but in general this is good for all involved, as long as there’s enough supply and demand to keep things moving along.
Fortunately, Everton Park isn’t quite as crazy as central Sydney yet, so it’s still possible to get in while you can!
For information on our listings or for more tips about buying or selling, give the team at Madeleine Hicks a call on 07 3355 6845!