Selling your home this Spring
Posted by Rebekah Hutton on Mon, Sep 2019
It’s no secret that Spring is the busiest season for real estate. The market historically and typically heats up along with the weather and an abundance of active buyers begin to emerge. We are predicting that this Spring in particular presents a fantastic opportunity to sell your home or at least welcome a free property valuation following the recent turn of events and announcements that will positively impact the Victorian property market.
- Confidence has been installed back into the housing market as we move into Spring. Following a persistent downturn in property prices over the last 18 months, recent data indicates that house prices are back on the rise for the first time since 2017. We’ve already seen increased activity and stimulation over the last few months and we expect this to accelerate as we move into the busiest season.
- We once again have an increased level of stability with government now that the federal election is over. This steadiness will be reflected in the housing market due to the removal of uncertainty around changes to negative gearing and capital gains tax discounts. This enhanced assurance will increase competition of buyers and investors just in time for Spring. In addition, auction clearance rates have also dramatically recovered since the federal election, highlighting the return of strength back into the housing market.
- The second RBA cash rate cut announced this year should provide a further positive flow through to housing demand in the coming months as we move into Spring. The RBA cash rate is now at a record low at just 1%. Mortgage holders are likely to now see the impact of considerable savings as a result of the consecutive cash rate cut leaving us extremely optimistic this will contribute to the kick-start of a stalling market.
There are plenty of variables in favour of a stronger housing market as we say goodbye to Winter. If you’d like to discuss what the above means to you with a trusted real estate agent, or if you require a free property valuation, you’re in safe hands with our Hodges property professionals. Get in touch today, beat the Spring rush and experience firsthand that you get more with Hodges!