When is the best time to buy a property?

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If one of your New Year’s resolutions is to buy a property, you may have wondered if the best deals are found in spring, summer, autumn or winter.

As a Buyers Agent, I often encounter fewer buyers braving the cold weather to inspect properties in the winter months. On the other hand, there is always far more hype associated with the spring ‘selling’ season in the property market.

In actual fact, you may find it surprising that sales volumes are actually fairly evenly distributed across all months of the year.

A study carried out by RPData in 2010, found that the busiest month for property sales across Australia, is actually March, which on average equates to 9.3% of yearly residential property sales. This is followed by May, July and October, with December and January showing a marked decline in property sales during the Christmas and New Year period.

Although March is the busiest month, the difference in sales activity between the months is only a fraction of a percent, and is fairly evenly distributed.

So what does all this mean to you if you’re thinking of buying a property this year?

Data shows that the time of year has less impact than what many people are led to believe.

The best time for anyone to buy a property is:

  • When you have done your homework
  • When you have your finances in order
  • When you are ready to buy

The current low interest rates (which were put on hold this week by RBA) and positive market predictions by many real estate commentators provide strong incentives for would-be buyers to start getting ready for their next property purchase.

If you are thinking of buying a property, it is important to understand the market and to do your research. This is where we can help you. To buy with confidence, contact us today as now could be a great time for you to buy.

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