The year is quickly coming to an end, and with Melbourne Cup being the last interruption of the year, there are now six final auction weeks of 2017. Whether you’re looking to buy or sell you better be prepared to act quick.
According to CoreLogic the first two weeks of December could be the largest auction weekends before Christmas as many people are looking for a new beginning in the New Year.
Are you looking to buy before the end of the year?
The last few months of a year can be a very fruitful time to search the market, with many homeowners wanting to sell before the new year starts. PropertyDuo know of a lot of stock about to go on the market, particularly in early December. A tip, during the last month of a year there tends to less buyers, people have given up, have started to think about their festive season celebrations or holidays or are busy buying presents – the last thing people want to be doing is buying houses, which means there is less competition for the buyer who perseveres.
Giving serious buyers more stock to select from, the final weeks of the auction year tends to shift the power from sellers and back towards buyers, who stuck with their search while others dropped off for the holiday season. If you’re smart and have done your due diligence you might snag the best festive season gift of all – a home! Some of the best property purchases are done in December, and it is an extremely fulfilling way to close out a year – tick new property! Cheers!
Or, do you want to sell in 2017?
If you’re a seller and have your eyes set for a fresh new start in 2018, you have to crack the whip, there’s not much time remaining to put your home up on the market. If you haven’t made a decision yet, don’t rush, hold off until the buyers are back after the holiday season.
February is usually a better time for vendors, as the demand comes back and the new year resolutions kicks in after the low number of transactions being made in January.
Prepare for the pass in
Something both buyers and sellers need to be prepared for during the final auction weeks is the pass in. We’ve gone through a period where many properties have been selling under the hammer, but with the large volume of stock that are expected to hit the market in the coming weeks, we’re anticipating more pass ins. Many people tend to be overwhelmed and a bit shocked over a pass in, but by engaging a professional you can get the best in class help to put a strategy in place if this were to occur. Make sure you have plan B and C in place so you don’t get caught in a situation not knowing what to do.
We leave you with this – there is no time to waste, the time to gallop is RIGHT now.