Is 2021 the right time to sell your home?
Yes! It’s a seller’s market right now. Here’s why.
If you’re wondering if it’s the right time to sell your house, the answer is a resounding YES!
Although the market took a slight downturn during 2020, the real estate market is back on track, with 2021 shaping up to be a fantastic time to sell your home.
Right now, we see record-low interest rates along with huge government stimulus packages and grants for home buyers. As a result, there is an increased demand for houses, creating the best market for sellers.
There has been a notable increase in online searches, high views on properties and high attendance (and sale rates) at auctions. People are definitely on the move. But the issue right now is there are not enough houses on the market to satisfy the buyers.
So, if you’re considering selling, this IS the best time to do it.
Why are people buying up property?
Whether you’re buying or selling your property, the reasons many people are shifting right now remain the same.
- Overseas travel is off the table, so you’re looking at an alternative way to spend your money and get a change of scenery.
- You’re looking at buying an investment property for future financial security.
- You want to take advantage of interest rates that are at an all-time low so you can pay off your mortgage without as much financial stress.
- The government are doing what it can to protect jobs and offer stimulus packages, so you may as well capitalise on this over the next couple of years.
- You’re now working from home, and it looks set to stay, so you’re looking for a sea change, perhaps opting for a quieter lifestyle than you had previously.
- You know if you sell your home right now that you’ll get a reasonable asking price, and it will sell without too much hassle.
- You want to move closer to friends or family in case we get locked down again!
So, what are the real estate market trends showing sellers?
According to data from realestate.com.au, suburban areas are claiming the top national spots for home buying searches.
Regional interest was also up, with buyers looking to escape city living, with the most significant rise in demands for a unit.
The biggest demand for units was in Queensland on the Sunshine Coast and in Warrnambool and Victoria’s South West region. The popularity is believed to be people looking to invest in holiday homes who prefer a unit rather than a house.
Inner-city units are less likely to sell right now, with fewer people working in major cities and the borders closed to international students and visitors.
But if you’re looking at selling your house, here are the most popular regions for the States:
- VIC: Melbourne – Inner South, Warrnambool and South West, North West, Melbourne – Inner, and Melbourne – Inner East.
- NSW: Sydney – Ryde, Sydney – North & Hornsby, Coffs Harbour, Sydney – Inner South West, and Sydney – Parramatta.
- QLD: Cairns, Wide Bay, Brisbane – East, Sunshine Coast, Gold Coast
- SA: Outback, Adelaide – South, Adelaide – Central and Hills, Barossa, SA – South East
- WA: Outback (North), Mandurah, Perth – South West, WA – Wheat Belt, Perth – Inner
- TAS: South East, and West & North West
- ACT: ACT
- NT: Outback and Darwin
Another indication of the popularity of sale areas is looking at how many days properties remain on the market. Melbourne’s outer east (Lilydale and Yarra Valley) sells the quickest, with an average of 28.5 days on the market.
Interestingly, this is closely followed by houses in Tasmania only remaining on the market for 29 days, then outer south-west Sydney and Illawarra following behind at 30 days.
If you decide to sell your house in these areas, be prepared to move fast!
How a conveyancer can help you sell your house
Honestly, selling a house can be one of the most stressful times in life. And now, with the market moving so quickly, you need to be ready to go.
You also want to ensure you snag that buyer and get the best offer available, so you need to have your documents ready and waiting to go.
Here’s how our qualified team of conveyancing lawyers help you:
- Prepares the contract of sale and Section 32 within 24-48 business hours of you instructing us.
- Advise you of any consequences to changes in the contract requested by the purchaser.
- Liaise with the banks, purchaser, council and government authorities to make sure any debts are paid, so you know the money you receive is cleared.
- Attend settlement to exchange documents and funds to finalise the transaction.
- We notify the council, water authorities and owners corporations of the change in ownership.
If you’re ready to sell and want the process to be as easy as possible, contact us today on 1300 635 556, email us at firstname.lastname@example.org or fill out our online form for your free quote. We’d love to help you sell your home in the market that’s perfect for seller’s right now.