How sellers can take advantage of 2024’s best-selling season
As summer gives way to the chilly autumn breeze, the property market heats up. For those looking to sell a property, we take a look at how to best leverage the busy autumn selling season.
LocalAgentFinder reported that autumn 2024 has seen a significant increase in seller-agent engagements as a result of the Reserve Bank of Australia’s recent decision to hold on rates for a second time this year.
The firm related that autumn has historically been a period of measurable activity within the Australian property market, with mild weather not only elevating the aesthetic appeal of listed properties but also serving as the perfect climate to attract a sizeable pool of prospective buyers.
These conditions have fuelled a “perfect storm” that LocalAgentFinder stated could “potentially [be] the best time the market has seen in a while”.
Richard Stevens, CEO of LocalAgentFinder, spoke of the need to understand how the nation’s diverse geography and climate interrelate with the shifting market tendencies of Australia’s property market.
“Sellers are smartly positioning themselves to take advantage of the market’s momentum. The situation varies by city, reflecting a generally positive market sentiment,” Stevens stated.
So, what are these nuances of each key market around Australia that need to be considered as we move into the autumn selling season?
NSW – Super Saturday success
In the past weekend, Tom Panos, real estate industry coach and LocalAgentFinder ambassador, noted the recent Super Saturday that occurred in Sydney’s real estate market, with a monumental 3,400 auctions held with a clearance rate of 75.9 per cent, as reported by CoreLogic.
“The participation and results we’ve seen validate the strategic importance of understanding market timings. It was more than just numbers; it was about recognising the optimal moment for action in a vibrant marketplace.”
The fruition and success of Super Saturday was stated by LocalAgentFinder to be a testament to the value of expert insights into the patterns of Sydney’s real estate market and the tenacity of the agents who harnessed this period.
Victoria – Emphasising comfort and warmth
Joey Eckstein, an agent at Wilson Agents who has serviced Melbourne’s inner south-east area for more than 20 years, acknowledged the need for homes to be showcased as cosy and inviting against the cooler autumn temperatures.
Beyond this, Eckstein spoke of a macro trend in Melbourne that is important to consider in adapting to market fluctuations.
“There’s a lot more confidence back in the market. There are more buyers around than this time last year, driven by people thinking the interest rates have reached a peak,” Eckstein proclaimed.
However, he also spoke on the importance of reining in expectations back to reality, particularly for those looking to sell apartments or units.
“Properties at the top end of the price scale are showing strong interest, while the apartments or units can still be a little challenging if not priced right.”
For sellers, he stressed the importance of understanding the nuances of buyer confidence and interest rates as able to give sellers a significant strategic advantage.
Queensland – Adopting the seller’s perspective
Thomas Coussens, lead agent at Place Estate Agents, spoke of the pronounced shift that the Brisbane real estate market is undergoing from the changing weather and rapidly evolving market dynamics.
“The average time on market in Brisbane has dropped approximately 50 per cent in the last 12 months. This is due in part to uncertainty around interest rates having eased, and a resurgence of confidence in the market, which is accelerating property sales,” Coussens explained.
In tailoring properties to autumn conditions, LocalAgentFinder suggested sellers in Brisbane would be well-advised to adapt against Queensland’s particularly volatile weather patterns in implementing storm-proofing measures and highlighting outdoor living spaces.
Chief among influences driving growth within the Brisbane property market is the unique market momentum generated by the anticipation of the 2032 Olympic Games in Brisbane.
“While still a number of years away, the Brisbane Olympics is already fuelling buyer activity, with many eager to secure properties before anticipated price rises,” Coussens described.
Across all states, sellers should heed insights into their properties’ unique features and surrounding local climate to solidify a “smooth selling journey from start to finish”.