Selling your property? The right time is now!

Why Sell Property Now

Over the past year, stock for sale levels have dropped by a massive 17 per cent in Sydney. In fact, in the last month alone, stock has fallen 2.1 per cent. So what does this mean for you, the property owner? It indicates that finally, the Sydney Housing Market is on the rise. With less stock on the market, house prices will inevitably increase. This upward pressure that is being put on real estate prices is creating the ideal environment for sellers. On top of this, Springtime is just around the corner… and it’s expected that Spring could really bring the beginning of a boom in Sydney.

Over the last week, Sydney’s home values have increased by 0.5 per cent, with property prices increasing by seven per cent over the last 12 months and an incredible 5.4 per cent in the last 3 months alone. According to RP Data, Sydney was the best performing city in Australia, and also the most expensive, with a median dwelling value of $587,000. And it is expected that prices will only continue to rise, with a record growth expected of 10 per cent this year.

Good Time To Sell Property

So for the astute seller, Sydney’s property market is just about right. Banks are cutting mortgage rates, and there is a reluctance by banks to fund new supply. By inflating demand but suppressing supply, prices have increased dramatically, and will only continue to do so in the coming months. The Reserve Bank quoted the following on the topic: “Conditions in the housing sector have continued to improve. Auction clearance rates remain high and dwelling prices have increased further in recent months. A number of indicators are pointing to a further recovery in dwelling investment, consistent with the low level of interest rates.”

If you are thinking of selling, there are many interested buyers out there. Conditions could not be more right for a Sydney homeowner looking to sell. So jump on board!

For more information on selling your property, or for a free market appraisal, please contact Stephen Marshall at Oaks Property Sales.