When Is The Most Popular Time To Buy House & Land?

The property market in Australia becomes very busy at certain times of the year. Statistics obtained from search engines and popular real estate websites show that most people prefer to buy their homes in spring and summer. Here is a brief explanation of the reasons why a large volume of property transactions occur during these seasons.

January Has the Highest Number of Home Buyers’ Enquiries Online

Australia’s land and housing development industry runs one of their biggest advertising campaigns during summer. Home listing services and real estate websites usually have their greatest amount of traffic in January. Why? Property experts have observed that after the holidays, people usually decide to go out and look for a new space, or a new location to freshen up their lives in the new year.

At the tail end of the holidays in January, potential home buyers have more time to look at houses and explore new neighbourhoods. In the process of going out to a park or other places for recreation, they may also discover new places where they would prefer to reside. In fact, in January and February, the property industry follows the trend of other post-Christmas sales and provides some of the best deals for home buyers.

Home Buyers Have More to Spend in December

Saving for Christmas is a well known habit that enables people to have surplus cash to spend in December. This naturally increases the desire to buy and makes would-be home owners to shop more for houses at this time of the year. Property sellers and real estate agents are aware of this fact so they tend to flood the market with listings, discounts, and other incentives to get more people interested in buying more homes. Although most deals are not completed in December, the next two months usually witness a surge of activity in the property market, since most buyers will like to complete the process they started before they return to work.

Also check: http://www.forbes.com/sites/learnvest/2013/12/26/why-wait-for-spring-winter-is-a-great-time-to-house-hunt/

Spring is a Traditionally Popular Season for Home Buyers

Spring has becoming a very busy time for home sales. Home owners, who financed their home purchase through mortgage, spend the cold winter months thinking about how to upgrade to a bigger home or downsize to a more affordable property. As the warm spring weather sets in, thousands home auctions are scheduled nationwide to meet the needs of these home owners.

During spring, there is an extra hour of daylight that makes it easier for home buyers to participate in home inspections in the evenings. This usually starts in the first week of October. At this time, sellers can give busy prospective buyers adequate time on weekdays to do a brief survey of the property. Also, some buyers prefer to complete their home buying process in spring before the Christmas holidays. Since most purchases take about 60 days to complete, many buyers prefer to start and complete the process early before the holiday season.
Spring and summer are the most popular periods to buy property. Hence, some of the largest listings and enticing offers for home buyers are usually available during these periods. Most home seekers usually have more time to go out and look at the homes they want to buy during the warm spring and summer months rather than during winter or autumn.

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