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Selling over the end-of-year holiday period is becoming an increasingly viable option, but agents should help sellers consider the factors that can impact buyer sentiment and demand.
While the number of properties for sale typically decreases as the year closes before picking up again in January, Barry Plant has reported that across many states, sales are increasingly continuing right up until Christmas.
To capitalise on the potential sales opportunities this summer, Barry Plant emphasised that vendors must be aware of the potential advantages and disadvantages around selling over summer time.
If approached by a potential vendor who is looking for advice on timing their sale, here are the pros and cons that agents should cover when it comes to selling over summer:
Pro: More time for buyers to look and buy
For most people, summer signals the start of the holiday season, offering more time to unwind and plan for the year ahead. This downtime often leads people to rethink their living arrangements, browse property listings, or even casually attend auctions in their area, which increases the pool of potential buyers.
Con: Limited availability of buyers on holiday
Barry Plant said that the holiday season can be a double-edged sword in that more people may be around, but serious buyers such as locals may be away on holiday.
As a result, auctions during the holiday period may draw more foot traffic but not all of it is going to come from buyers who are serious about purchasing.
Even with this increased attention, the various public and school holidays over the end-of-year-period are important factors to consider as they can impact auction interest and attendance.
Pro: The increased appeal of the sunny season
Properties generally look best under natural sunlight, and the end-of-year period provides no better time to take advantage of the sunny weather.
In these favourable conditions, an open home with a bright, sunlit interior from the morning light or afternoon warmth will engage buyers better than dark and gloomy weather.
This inviting atmosphere can also help potential buyers to envision how they’d live in a property – whether it’s reading a book on the balcony or entertaining friends by the pool.
Con: Buyers may hold off until the New Year
In the lead-up to the new year, some buyers may hesitate and be uncertain of what buying conditions may be like in the coming year. Especially with less favourable economic conditions, many potential buyers may decide to delay their property plans until they feel more confident in the stability of the market.
Pro: A new home for the new year
Nevertheless, the start of the new year can also inspire a fresh start for many people and prompt them to consider moving into a new home.
A lot of potential buyers also commonly relocate for work around Christmas time, which can help to generate increased demand for properties.
Con: Facing increased competition
Due to the increasing popularity of selling over summer time, the market around this time of year can also be oversaturated.
Even though this doesn’t mean that it’s a bad idea to sell during the end-of-year period, Barry Plant emphasised that agents must be strategic with marketing to ensure that a property can stand out among the increased competition.
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