Tracy and Ken Shipp, with their daughters, Jasmin, 16, and Zara, 18, are just one of many sellers cashing in on renewed confidence. Picture: Justin Lloyd.
Renewed confidence in the wake of the coronavirus pandemic means the traditional spring property selling season is shaping up to be a cracker as the market emerges from its annual winter slumber.
As the pandemic continues to affect Australias economy, the housing market has remained relatively unscathed due to strong demand from buyers and buoyant stock levels, which has helped to avoid a crash.
This demand has translated into more fresh stock coming up for sale at the start of spring than the same period in 2019. Realestate.com.au reveals that there were 2165 new listings to hit the market this week across Sydney, up from 1390 this time last year.
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There are more new listings than this time last year. Picture: James Gourley/The Sunday Telegraph.
With first homebuyers leading an army of hungry buyers, some experts believe this spring will be as good as any other gone by, and in some cases better.
Realestate.com.au chief economist Nerida Conisbee said while the market was still facing uncertainty from the pandemic, the conditions make now a great time to be selling.
“With the market moving at a slower pace, now is the perfect time to be buying and selling in the same market,” she said.
“This slower pace allows for more time to plan the next step, which isn’t the case in a boom where decisions have to made quickly.”
Ms Conisbee said the current climate means sellers looking to list this spring should avoid going off market, which is increasingly being championed by real estate agents.
“The more eye balls you get on your property, the better the result you will get,” she said.
McGrath Balmain partner Cindy Kennedy said everyone was very focused about property at the moment and this was translating into an overwhelming number of buyers wanting to upgrade.
Showing how a granny flat or backyard shed could be used as a home office is recommended by experts to stand out. Photo: Supplied.
“So many people have realised during the lockdown that they have outgrown their current home and that they need more space, not less,” she said.
This means homeowners should bring an agent or a stylist through their home as soon as possible if they are considering listing this spring to ensure it stands out from the field.
“Getting the right advice early in the process could mean netting hundreds of thousands of dollars come auction time,” she said.
The Shipp family are selling this Greenwich home through Belle Property Lane Cove’s James Bennett.
Adrian William director Adrian Tsavalas agreed that taking the time to ensure the property is market ready is crucial to getting a good result.
“First impressions count, so take the time ensure everything is presentable and in working order, as buyers often gravitate towards these homes first,” he said.
Gardens and outdoor spaces are also high on the list of things sellers should ensure are presentable come the first open home, Mr Tsavalas said.
“The spring selling season is all about the garden, so creating them to be as inviting as possible is the key to winning a buyer over, as they will be planning their summer around this space,” he said.
Sellers should also get the garden looking presentable this spring.
Realestate.com.au reports unsurprisingly searches with the keyword “home office” have skyrocketed during COVID-19 as more Sydneysiders make working from home a regular part of day-to-day life. Mr Tsavalas said sellers should look to showcase their properties potential as a suitable working environment to tap into this growing market.
“It can help you stand out if you show your home’s potential for offering a suitable office environment such as a shed that can be converted or another suitable space you may have.”
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