The sun is shining, and so are the buyers! Spring has always been a peak season for property, and spring 2024 is expected to be particularly bustling. If you’re planning to buy in the upcoming weeks, here’s how to prepare.
Finally, it’s time to pack away those winter clothes and bring out the t-shirts and shorts. With spring approaching, sellers are getting ready to showcase their homes to attract as many buyers as possible.
Spring has always been a favourite season for both sellers and buyers. Gardens are in full bloom, the warmer weather draws people outdoors, and buying a home in spring allows for settlement just in time for Christmas.
However, there’s an additional reason why spring 2024 could be especially active.
Over the past decade, spring has seen new listings increase by more than 18% nationwide, according to CoreLogic. This means buyers have a wider selection of homes to choose from, and they certainly take advantage of it, with home sales typically rising by over 8% in spring.
This year, buyers might have an even greater selection of homes to choose from. CoreLogic reports that autumn and winter have witnessed an above-average pace of real estate listings entering the market. This has resulted in a more balanced supply and demand compared to last year, where sellers had the upper hand.
Even so, buyers should be well-prepared for the spring selling season. Quality homes don’t stay on the market for long. For example, in Perth, the median selling time is just 10 days, so buyers who move quickly have a competitive edge.
In the fast-paced spring market, home buyers can stay ahead of the competition by following these three simple steps:
Inspecting numerous properties can make it easy to lose sight of what you truly want in a new home. Cut through the confusion by creating a list of must-have features, followed by a rundown of nice-to-have but non-essential features. A wish list can save you time by allowing you to focus on properties that meet your criteria.
When buying a home, guesswork isn’t an option. Speak with us to get a clear understanding of your borrowing power. This will enable you to set a realistic budget and identify which homes are within your price range.
Nothing demonstrates that you’re a serious buyer like having your home loan pre-approved. It’s a simple step that can significantly reduce the stress of buying a home. If you’re buying at auction, pre-approval will enable you to bid with confidence and set a clear limit for your highest bid.
As the weather warms up, so too does the housing market. If you’re looking to buy, now is the time to get organised so that you’re home loan ready when the right opportunity arises.
Whether you’re in Queensland especially in Townsville, or eyeing properties in Brisbane or the Gold Coast, call us for a personalised discussion about your property goals. We’re here to help you achieve them with a mortgage or refinancing option that suits your needs.
To learn more, contact Premium Finance Group Australia at (07) 4720 8888 or email us at finance@pfga.com.au.
Disclaimer: The content of this article is general and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your situation and may not be relevant to circumstances. Before taking any action, consider your particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced, or republished without prior written consent.
