Taylor Troeth, Property Journalist
Updated 20 Oct 2023, 11:27am
First published 20 Oct 2023, 2:41pm
The best time to sell in Sydney revealed. Picture: NCA NewsWire / Nikki Short
Selling property has often been associated with spring – but March is actually the best time of the year to sell in Sydney, a new PropTrack study revealed.
The research showed that March homeowners tended to get higher prices for their properties than those who sold at different parts of the year.
PropTrack senior economist Paul Ryan said it was a factor worth taking into consideration when looking to sell.
“At the peak of the average, you can get around $10,000 more return, which is a significant amount,” Mr Ryan said.
Sydney homeowners set to sell in November could get a higher than average price for their property. Picture: Gaye Gerard
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Selling in March usually meant a 0.85 per cent higher price than selling over the rest of the year, PropTrack reported.
And although that number was seemingly small, when measured against Sydney’s high prices (the median house price is $1.4m), the difference was substantial, equating to thousands of dollars, PropTrack noted.
The research showed late spring was another good time to sell, with sellers getting prices at 0.71 per cent higher, on average, in November.
“There is a positive period in the classic spring selling season, but also in that late summer period,” Mr Ryan said.
A popular Sydney auction. Picture: Brendan Read
Buyers in Sydney looking to get the cheapest price were better off waiting until December, where prices tended to be lower.
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December prices in Sydney were about 1.04 per cent below trend for the rest of the year.
Sydney, along with Darwin (February), was one of the only markets where prices were not at their lowest over winter.
Mr Ryan said the best time to buy aligned with the peaks in selling times.
Best times to buy aligned with the best times to sell, according to PropTrack. Picture: Monique Harmer
“Most sellers are also buyers, so part of it is market conventions trying to co-ordinate buying and selling at the same time,” he said.
Spring selling season seemed to be the best month to sell for a lot of the country including Melbourne, Brisbane, Perth and the ACT. Early autumn was the best time to sell in Adelaide.
“There are so many concerns on selling your home and people will always sell when it works for them, this is just one other data point that sellers can take into consideration when looking to get the best price for their property,” Mr Ryan said.
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