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The executive chairman of Raine & Horne believes that a unique buying window is available over the next three weeks – but buyers must act fast or risk missing out.
In the three weeks between the Easter long weekend and the ANZAC Day public holiday at the end of April, there is a “unique” window of opportunity rarely seen for autumn buyers.
Internal research from Raine & Horne has found that astute buyers have already jumped on this chance, with Australia seeing a 25 per cent increase in groups at open homes compared to early autumn last year.
For those looking to purchase a property before winter, Angus Raine believes that now is the time to strike.
“The timing of the public holidays has […] coincided with a steady flow of listings into the market,” said Raine.
He attributed this increase in listings to the Reserve Bank of Australia’s March decision to hold the cash rate at 4.35 per cent, leading many Australian home owners to expect a steady increase in home prices.
“Home owners are opting to sell buoyed by the improved property returns over the last year, with values up by an average of over 9 per cent nationally and much higher in some states,” said Raine.
“The steady flow of properties for sale provides choice, making the three-week window in April between the public holidays an ideal time to pounce, especially for first-time buyers or families looking to upgrade to their next home.”
However, the Raine & Horne executive chairman warned that prospective buyers must act swiftly.
“Buyers need to get prepared and get their skates on to land a suitable property,” urged Raine.
He added that “despite the choice of properties available, buyers must not lose sight of their priorities”.
“Creating a list of must-have features alongside desirable but non-essential ones can help buyers stay focused during property inspections,” he suggested.
“Whether a buyer is seeking a specific street or aspect, block size, or a double garage or rear laneway, having a clear idea of the features you want will assist your decision-making.”
Craig Betalli, senior broker at Our Broker, also suggested that buyers consider obtaining a loan pre-approval to aid the buying process.
“A loan pre-approval also puts you ahead of the buying competition and increases your chances of securing your desired property,” said Betalli.
He noted that a loan pre-approval helps set a clear budget, which “sets a clear path for understanding your financial limits and guides your search towards suitable localities”.
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