Welcome to September, which also means the change of seasons with the arrival of spring, which also means that the real estate market is heating up.
And this is what we’ve been waiting for!
Sales listings have increased and the number of interested buyers is also increasing. So now we just need to see the impact.
To check what’s happening in your local market, the things you need to watch out for are:
- Days on market (how many days the property is listed for before it is sold) – note this is often different for homes and apartments so make sure you’re looking at the right numbers
- Auction clearance rates (how many properties that are listed for auction actually sell on auction day)
- Sales price
If you’re planning to buy, remember that research is key. You need to know what’s going on in your neighbourhood. This will help you know how fast you need to move and will give you an indication for your starting offer.
As always, having pre-approval for your home loan is vital so that you know your borrowing capacity and that the lender has given you a provisional green light.
Let us know if we can help you buy your first home, your next home or your investment property.
