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Fresh figures show that sellers who wait for the peak of spring are often rewarded for their careful timing.
According to analysis by PropTrack, November is statistically the best time to sell, followed by the months that make up autumn in Australia, based on sales records collected between 2014 and 2023.
Data from the firm reveals that November prices across the country are typically 0.78 per cent higher than the national average throughout the year.
PropTrack’s senior economist Paul Ryan explained that this equates to roughly an increase in sales price of $7,000 for the average property sale of around $880,000 over the past year. Though he noted that depending on the location and home value, the gains can be much higher.
According to the research firm’s data, some markets like Melbourne, Adelaide and Perth see seasonal price changes of more than 1 per cent above average during their peak time to sell. This can see owners pocketing an additional $10,500, $11,000 and $9,400, respectively.
“The best selling outcomes are achieved in October or November in most markets, when buyer activity increases. The autumn selling season – particularly February and March – also sees seasonally higher prices, with buyers accumulating over the slower holiday period,” Ryan noted.
In fact, some markets buck the trend, with higher prices in February and March rather than the spring months.
In Sydney, March sales reap the highest returns, when prices are 0.85 per cent above the yearly average. But October and November still deliver above-average sales prices in the harbour city as well.
And Darwin sees the most activity in terms of price differential in April, when cooling weather brings out buyers and sellers alike, with the price difference averaging to an increase 3.43 per cent during the month compared to the rest of the year. Though it’s the one capital that sees the average sale price drop in November.
Ryan noted that this year, the peak of spring is expected to pay off once again for sellers in most parts of the country, with the busiest time of the year working alongside continual price climbs to deliver good results for sellers.
“Home price growth is persisting at above-average rates nationally. With the spring selling season progressing strongly and the best month to sell – November – approaching, further price growth will likely continue to benefit sellers throughout 2024,” he said.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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