Property sales activity not rosy in spring
Spring no longer represents the best time to sell, according to RP Data.
New research from RP Data has found evidence to suggest that a great number of listings does not necessarily convert into a great number of sales.
RP Data’s research analyst Cameron Kusher found that, on a national basis, March is in fact the busiest month for house and unit sales.
Nationally over the last 10 years, March accounted for circa 9.3 per cent of all dwelling transactions.
“Despite the fact that March is the busiest month for sales, the results show that there is minimal fluctuation in sales activity except within December and January when sales volumes fall away considerably,” Mr Kusher said.
“Clearly once everything starts to settle down after year-end festive periods, the attention turns back to the property market resulting in strong sales volumes during March.”
According to Mr Kusher, May is the second busiest month for sales, accounting for almost 9.2 per cent of all transactions.
The results also confirm that spring is only the second busiest season for purchasers with autumn attracting 26.6 per cent of all sales compared to: 25.4 per cent in spring, 25.3 per cent in winter and 22.7 per cent during summer.
Mr Kusher said that although there is a ramping up in listings from August through to November, the increase in listings is not matched in sales activity. The strongest increase in sales activity is recorded between January and March each year at which time listings also ramp up.