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23
Mar 17

When Is The Best Time To Purchase A Property?

by Matthew Ikin
When is the best time of year to purchase a property_

While spring is renowned as the time of year sellers place their properties on the market, this doesn’t necessarily mean that it is the best time for buyers to go shopping. One of the main issues with spring is the flood of home buyers and sellers into the market. Spring may refresh the pool of available houses however, competing with several other buyers on the same properties could see prices creep up.

“Sellers who do choose to list in winter may be trying to make the most of less competition from other properties, but they might also be much more motivated to sell quickly.” - Domain

A higher demand for houses will naturally cause higher prices and mean less room for negotiation. This is why you should begin looking throughout the winter months in order to cut through the sea of buyers who will be emerging come spring.

The amount of home opens may be higher in spring but this doesn’t necessarily mean that there is more to choose from, due to other competing factors such as your finances.

Another positive to starting your property search in winter is the reduced pressure with fewer buyers to compete with. Having more time to consider properties, longer negotiation periods and more time to organise your home loan means you are more likely to get the best home, price and loan. Although there may be better and worse times to buy in the year, following the crowd may see you make a decision that is not best for you.

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