As the Australian property market bounces back from the COVID-19 pandemic, it has shaped up into a seller’s market.
With improved consumer sentiments, economic forecasts, and interest rates, people are selling their properties now more than ever.
According to recent available stats, 35% of homeowners plan to sell in the next five years. At present, over 12% of them are listing their houses for sale. And, the remaining 23% plan to sell their homes in the next 12 months.
Despite the increase, studies show that 51% are holding off on selling their properties straight away.
Nevertheless, with 22% of Australians planning to buy a house in the next five years, we have a strong demand side. So, competition among other buyers by 30% and a lack of supply-side by 21% are also cited.
What this means is that the current market prices for the buyers are high and continue to spike. Selling your property during the next 12 months in hence cited as beneficial.
Enlisted below are some tips for selling your property:
- Reconstruct your property to give it the best look
- Make your house more spacious by removing any clutter. A rise in Work From Home culture has buyers demanding more space.
- Run maintenance checks and fixes both indoors and outdoors.
Are you looking to sell your property?
If you plan to sell off your property anytime soon, you should run through the moving house checklist to ensure a smooth moving out process.
You can sell your current property even if you haven’t paid off your mortgage. For this, knowing what happens when you sell your property still on mortgage is essential.