When is the best time to sell?

best time time to sell

There are 4 market conditions that make for the best time to sell. If you see any or all of these happening, it can mean it’s time to get your property onto the market.

1. Houses are in short supply

Property values are a reflection of housing supply and demand. The more houses there are for sale, the lower prices tend to be, so if there’s a shortage then it’s a great time to sell because you’re more likely to get a higher price for your property.

To find out what’s happening with property prices in your area, you can check data from places like the Australian Bureau of Statistics who provide information over several years such as the Residential Property Price Indexes:

“The fastest way to find out where your property’s value is heading, though, is to talk with your local agent” said Ash Brown, Director of One Agency Orange.

“Data like this is what we focus on every day. We spend so much time delving into what’s happening with the market, we can give you these answers without you having to spend hours sifting through it all and trying to figure everything out.”

2. The Australian dollar is softening

Falling local currency value leads to an increase in foreign investor demand, especially from Australians living overseas who intend to return home sometime in the future. Those people are watching the market for the time when their foreign income will bring them the highest value in Australian dollars.

Any rise in demand for property is generally followed by a rise in prices so check with your local agent when our dollar value falls and see if that’s causing prices in your area to go up.

3. Life has moved on

Sometimes, life changes around you. The best time to sell isn’t always about the price you’re likely to get. If you bought a family home but your children are now grown up with homes of their own, that’s a lot of house you’re still maintaining for fewer people. You could find yourself living in an area that no longer suits you or maybe that rental property has served its purpose and it’s time to convert your investment into cash.

Changes in your circumstances are often a great time to sell so you can have a more appropriate home, location or lifestyle. The right time to sell can be when it suits your changing needs and what you want from the property you own.

4. Home loan interest rates change

Any time the Australian Reserve Bank lifts or cuts the official cash rate, homeowners and investors can experience changes to their mortgage repayments.

This can mean more buying power or it can mean tighter household budgets. Either way, financial sector changes of any kind can make it time to consider upgrading or downsizing, depending on one’s personal situation and goals.

“There’s a key strategy in timing the sale of a property when interest rates change,” says Ash. “The run-on effect on the market isn’t immediate. If you’re looking to sell, understand that it takes time for the market to shift so keep in touch with your agent who will have a better handle on all the forces in play.”

For more detailed information on this aspect of property prices, see our article How Do Interest Rates Affect Property Values?

Don’t get caught out with only a piece or two of the information you need. We’re Orange’s friendliest and most energetic agency. We’re more than happy to share our expertise and chat with you about the latest trends so you can confidently decide the best time to sell.

Give us a call or come and meet the team in person at our office in Summer Street. Our service is all about making your real estate experience as stress-free as possible.

02 6362 9560 | admin.orange@oneagency.com.au | Suite 7/230 Summer Street Orange NSW 2800