You can barely go on-line, whether it be Instagram or Facebook, without seeing some local person gallivanting through some exotic European location with a smile across their face and a drink in their hand.
For those of us working through the Aussie winter, keeping the economic wheel turning, it can get very frustrating watching the world on vacation.
Locally the streets are less congested and on the real estate front open house numbers can and have dropped off during the holidays.
On this topic I had a friend ask me whether they should list during the school holidays. It’s a fair question, we usually have lower inquiry and there is an argument that the weakening in competition could lead to lower prices during winter.
This alone would mean you should avoid listing in winter. But there is an unpredictability to residential sales that plays a huge role in the decision.
In the winter months of 2008 many owners may have held their properties off the market waiting for spring.
The Brisbane market was booming and even though prices were good, a lot of people would have thought they were only going to keep getting better.
What happened though was a dramatic change in market conditions in October 2008 – the Global Financial Crisis.
Prices dropped by an average of 30 per cent and history will show that those people who waited cost themselves thousands.
Real estate is a ‘now’ business.
The conditions today may not be the conditions tomorrow. You can wait and prices might get stronger or you could wait and they could get worse.
My answer to my friend was list now.
We have buyers today who want to buy now. But inquiry is down. The next few months look sound however an election, dramatic change in the southern markets or a significant international event could knock things off course.
We are still selling a lot of property and buyers are in the market. My friend has bought another property and with the confidence in todays market has decided to list now.
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