Does winter affect property sales in Perth?

With winter well and truly upon us, many vendors will question whether it’s worth listing their property for sale now or if it’s in their best interest to hold off until spring.

As far as winter goes, Western Australia is pretty lucky. Our winter weather is generally pleasant and we’re regularly spoilt with plenty of winter sun. But do the cooler months affect property sales in Perth?

On the surface, the data would suggest that yes, sales activity in winter tends to slow following the busy autumn period. During the last five years, sales have typically peaked in March, before declining to a lower level by the start of June and holding there throughout winter. Historically, this has also coincided with fewer listings being available for sale during winter compared to other times of the year.

So should you hold off listing your property in winter? In a thriving property market, it may be smarter to hold off selling during winter in favour of waiting to list until buyers are at their most active and competition is high. In a seller’s market, when there are fewer listings and increased activity, this strategy may see you achieve a better sale price in a quicker time.

However, that’s not the reality of the WA property market right now. Market conditions remain subdued and property listings currently outweigh the number of active buyers, putting the market in favour of buyers. With this in mind, there might actually be some benefits for sellers who choose to list their property for sale during winter when other vendors might be less inclined to do so.

In 2018, there were approximately 16,300 properties for sale in March, April and May throughout the Perth region at any given time. By the time August had rolled around, this number has reduced to just over 15,000. This meant that sellers who chose to list their property for sale in winter last year were competing with some 1,300 fewer properties than those vendors who had listed their property for sale during the busier autumn period.

Based on this data, clearly there is a case to be made for listing your property during winter. Even though buyer activity lessens, so too do the number of properties for sale that you’d otherwise be competing with. The reduction in listing volumes may just help your property stand out.

Ultimately, while seasonal trends can influence sentiment amongst buyers, there are plenty of other factors that can make a bigger difference to achieving a successful sale. Sellers should always seek the advice of their real estate agent about how to best market their property to ensure that when they do list for sale, they have the best chance of cutting through the competition and standing out to buyers.

Are you thinking about selling and taking on a big move? Speak to one of our Professional sales consultants to help you get into your new place sooner rather than later.

The above article has been sourced directly from REIWA.com.au and reproduced by Professionals Prowest Real Estate with minor alterations. Original article here