The Australian property market is continuing to make headlines though it may not be good news for intending home buyers. Major metros like Melbourne and Sydney are seeing appreciable gains coming nearly every single day over the past few months. It is boom time for sellers and while any season is good enough during these times, the spring season is particularly for Australians looking to list their property for sale in Melbourne.  

The last quarter of the year has certain elements that promote home sales in most markets and the prices tend to edge higher during these months. The month of November, during this period is the best time for sellers to get the best price for their real estate in Melbourne and the incremental price realization could be as high as 6% during this month. The final months of the year always turn out to be busy with school holidays, summer break and the festive season knocking at the doors. Listing your home during this season obviously involves some admin effort and therefore some people prefer waiting for the dawn of the year when the weather also starts turning. Yet, spring is a preferred season when we are talking about real estate for sale in Melbourne. Spring is also the auction season in Melbourne and Sydney and also the time of the year when properties are looking their best.  Another report holds the view that seasons do not significantly impact regions like Perth, Adelaide, Brisbane etc., while it is more pronounced in cities like Sydney, Melbourne and Hobart. There is also a general opinion that home prices tend to be the highest towards the final weeks of any year. 

Make Your Listing Unique

We have seen that Australian real estate is booming and that sellers can expect top dollars for their property for sale in Melbourne. But, that does not necessarily mean that you as the owner of the property can go ahead and list your property without undertaking any staging actions normally needed when you are offering a property for sale in Melbourne. You do expect the buyer to part with a premium price for your property and therefore only natural that the buyer too would expect that the property he is buying has certain unique properties that attract him and his family.  You should therefore do everything possible to make your property not just attractive but one that can stand out from the crowd. 

What are the other factors that you should be concerned about?

Apart from seasonal factors, you should be concerned about several other things when you decide on selling your property. 

• The State of the Market

Gather as much information as possible about how the market for real estate in Melbourne is poised. There are many helpful digital sources that provide monthly, quarterly and annual heat maps for particular regions, the nation as a whole and even specific suburbs. Invest in quality time to analyze these and take a balanced view from what you find. You should also understand the demand/supply balance or imbalance for a particular suburb or region in a given time frame to get deeper into potential pricing for your own property.

• Consider your own Priorities and Needs

While seasonal factors may help you get those extra dollars for your home, your priorities may be different or your needs could be more pressing. Perhaps you want to downsize your family for varying reasons, need more space for a growing family, or sell and close your mortgage for other reasons etc. If you are faced with one or more of these situations, then any season is a good season to sell your property.

• Location of the Property

When you put up a beach home property for sale in Melbourne, you are likely to get a higher price during summer than in spring. But if you own a property with a lush green garden, spring is the season to extract the best price. Different homes have different appeals across seasons and therefore it is important to understand the best time to list your real estate in Melbourne for sale.

Conclusion

All through 2021, the Australian property market has witnessed a runaway boom and buyers are making the best of an all-time low mortgage rate. Concerns from the ongoing pandemic appear to have had little or no impact on property markets. Elsewhere around the globe too, real estate markets have remained relatively insulated from the pandemic. However, before you decide to list your property for sale in Melbourne, you should consider how you reinvest the sale proceeds and potentially the higher price you may need to part with for a new dwelling and the new suburb you would be moving in.