If you see any or all 5 market flags waving, then it might be time to list your property.
1. There’s a shortage of houses in the market for sale. This is happening right now in Wagga. Have a look at the real estate listing numbers and if you see they are shrinking this means it’s a good time to sell. There will always be qualified buyers and property values reflect house supply and demand, so with less supply prices can be pushed up. This is good for a vendor.
2. The Aussie dollar is softening. When the $AU currency falls it can mean a rise in foreign investor demand. Excellent if you have an investment property to sell.
3. Your own living arrangements and needs change over time. What you need at age 25 may differ from what you need in a home at age 50. Children, pets, recreational items can change what you need. Up-sizing or down-sizing are a big factor in deciding whether to list your current home for sale.
4. Home loan interest rates are changing direction. Any time the Australian Reserve Bank lifts or cuts the official cash rate, people will have changes to their mortgage repayments. This can mean more borrowing power or tightening of the household budgets. Either way any changes in the financial sector can trigger sales.
5. A National holiday. Christmas or Easter can trigger a spike in Agent enquiries. So if you are thinking of selling you’ll probably get a lot of enquiry on your home before a big holiday. Also people tend to spend more online shopping and looking for property.