Spring and summer are usually billed as the ideal seasons for buying and selling. However, the best time to sell your Gold Coast property, or buy the one you have your eye on, really depends on the type of property and the local market. What works in one city, and for one type of home, may not work in another situation. It’s important to know how your local market is performing and what factors affect your type of property.
Why is spring such a popular time to sell property?
For one thing, as winter disperses buyers are ready to get outside and spend their time looking at houses. Meanwhile, for sellers, it’s easier to make a home look attractive without having to put in extra effort. In the springtime, our homes are warmer, long hours of sunshine help to brighten an otherwise dark home, and Queensland gardens are coming into bloom.
However, whether or not any of these spring time factors are really enough to sell your home or get a good price on the one they want is very much dependent on the individual property. Beach front properties often look immediately more attractive once summer hits and buyers are able to see themselves utilising the benefits of such an enviable location. For sellers, this could result in a higher price, as the benefit of their location is obvious.
However, for other types of property, the run up to Christmas and the summer holidays that follow can result in distracted buyers and make it more difficult for you to keep your property looking perfect should an inspection arise. By contrast, autumn follows a period of summer holidays where families may have had the time to make important decisions about their move.
Balancing supply and demand for Gold Coast property
Especially if you’re both buying and selling, you’ll want to think about how to balance supply and demand in your favour. Should you market your property at a time when you are likely to have more buyers coming through and take the extra competition from sellers? Or should you hold off and market your property during a quieter season, facing less competition but also fewer buyers?
This might be especially tricky if you’re selling one type of property and buying another. What might be a busy time for the type of property you’re selling may not be such a busy time for the one you’re buying – which season is going to leave you with the most financial benefit and the highest chance of getting the price you want?
Getting the balance right when it comes to buying and selling is difficult. If you’d like more information about the current Gold Coast property market, talk to our experienced team at Ray White Surfers Paradise.