When is the best time to sell your home?
Finding the right time to sell your Main Beach real estate can sometimes feel like searching for a needle in a haystack.
If you're looking to make capital gains, it all comes down to how heated the property market is. Strong demand will make your Surfers Paradise property more desirable and consequently drive the price tag up.
Demand in recent times has certainly been strong, with CoreLogic RP Data recently revealing that the total worth of Australian homes is now in excess of $6trillion.
There are a number of outside factors that can influence the process, and it pays to weigh these up before putting your property up for sale. Here are a few indications that it is a good time to sell your piece of real estate in Surfers Paradise.
Is there a property shortage?
Economics 101 dictates that an ideal market for all parties is one where supply perfectly meets demand. If you're a seller, however, you will want a market where demand is outstripping supply.
With less homes on the market than potential buyers, there will be increased competition, which can often result in more money in your pockets. To effectively time your listing, you can study market reports and auction results to get an idea of the demand for real estate in Surfers Paradise.
Is the Aussie dollar low?
A low Australian dollar can make property more attractive for overseas investors and expatriates, as they will be able to purchase more with their foreign currency.
An influx of international buyers looking at purchasing your Surfers Paradise property will only increase the demand and competition, swinging the market further in favour of sellers. Keep an eye on the dollar's ups and downs to deduce the ideal time to put your Main Beach real estate on the market.
Are interest rates falling?
Interest rates often attract a lot of attention in the housing market, and for good reason – they ascertain how much your home loan will cost. The lower they are, the more manageable your mortgage repayments will be.
Thus, you should keep your eyes peeled for the monthly Reserve Bank of Australia (RBA) official cash rate announcement as this directly affects interest rates. According to the RBA, the property market has been in fine form (for sellers at least) since it lowered the cash rate to it's historical low of 2 per cent back in May.
Is your home no longer suitable?
Forget setting out to make maximum capital gains by taking advantage of the ideal positions of various cogs in the Australian property market, you might simply need to sell your home because it no longer ticks the boxes.
Your Main Beach real estate may have been perfect when you moved in as a couple, looking to make the most of the glorious lifestyle that Surfers Paradise property can offer. However, with the addition of kids to your family the property may feel like a brick and mortar straitjacket.
Other reasons for moving can include the kids moving out leaving your home feeling like an empty nest, wanting to reduce your commute to work or purely desiring an upgrade for a better quality of living.
Real estate in Surfers Paradise
If you would like to know more about selling your Main Beach real estate, you should talk to the team at Ray White. We've got years of experience when it comes to real estate in Surfers Paradise, and can help ensure you get the best price for your home.