School’s back! How Do Holiday Periods Affect the Property Market?
(3 Minute Read)
Home buyers and sellers are directly affected by the yearly calendar. Marking out periods such as Christmas, Easter, the school holidays, or days when public holidays occur will help you consider how best to market any given property.
In one way or another, we all fall into a routine and become creatures of comfort and habit. However, the disruptions in our routine come with differing levels of productivity. This blog will establish the trends set by the different holiday periods throughout the year and how the market reacts to the shifts in people’s routines.
Seeing the Market in a New Year’s Resolution
Once the fog of the Christmas season passes, the New Year brings renewed interest in the property market. As families return from holidays and settle into the final weeks of school/work breaks, the property market is in the beginning stages of revitalisation. During this start-up period, the housing market prepares for the influx of listings in the coming months.
In this period, marketing for properties begins to ramp up, and the buyers start having something to look at again. This is not to say that the market is dormant over the summer break, but February sees an actual spike.
Back into the Swing of it
February gives us our first accurate gauge of how the market is going and where it is heading for the year. Sydney’s typical auction campaign spans four weeks, encompassing marketing through to sale. The final week of February usually sees the year’s first significant auction day.
In a post-pandemic market, Feb 2022 saw 996 properties go under auction with a clearance rate of 60.6%, which showed the market’s recovery after odd trends in the previous year. We expect this trend to continue in 2023, with the first signs of a slowdown in April, due to the Easter holidays.
Easter and the Autumn Break
Agents and sellers shy away from holiday periods, delaying listings, auctions and open homes under the reasoning that buyers aren’t focused on purchasing during these times, with the break in routine disrupting their goals.
As the Autumn break falls around April and Easter can vary between late March and early April, there can be a separation in the market depending on whether or not Easter is during the break or if we get two separate breaks. This can create a small peak and trough in the market, but the lull is short-lived.
Winter, Long Weekends, and Secret Gems
Winter is renowned for being the slow season in the property sector. The June long weekend marks the shift from the spring market into the declined and limited listing winter period. Though it’s true Winter is the slower season, at PRD, we use our extensive network and team of expert agents to establish genuine buyers and create a relationship with the perfect sellers. The slow period isn’t slow with PRD Wagga; it’s an adjusted process, whether you’re selling or buying.
The Golden Season
Autumn and Spring are the peak periods for the housing market, but Spring outshines all. As gardens bloom, buyers amass to a bountiful market, ready to purchase their next property. This boom essentially ignores the break in routine from the Winter and Spring holidays and continues on with little interruption.
Both buyers and sellers benefit from the Spring market. Buyers are spoiled for choice, and sellers have increased buyer interest, allowing them to adjust property prices accordingly. Fortunately, the Spring period only comes with one downfall, and that’s the back end leading into the summer holiday season.
The Festive Wrap Up
As summer takes hold and school finishes up, so too does the market. This make-or-break period divides buyers, some pledging to push on with their investment whilst others begin the Christmas gift-giving and gathering season, waiting until the new year to invest in property.
The first week of December is the final weekend for large auction performances. The remainder of the year is then open to private off-market options, campaigning directly to those highly motivated buyers that continue their search throughout the holiday period.
The calendar year has positives and negatives for all times and seasons when considering buying or selling a property. Get in touch with the team here at PRD, and we can help determine which time of year works best for you. In addition, our team of experts see the shifts when holidays come around; Sell Smarter with PRD Wagga.