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With spring demand booming nationwide and supply limited, agents are seeing strong returns, with experts noting that educating potential sellers is key to securing more listings.
According to LJ Hooker’s head of research, Mathew Tiller, the current market conditions have provided agents with a prime opportunity to maximise returns for sellers willing to come to market.
“It’s all about leaning on the fact that there isn’t much competition between sellers at the moment,” Tiller told REB.
“The evidence of the demand is obviously the price growth we’ve seen, but also very high auction clearance rates.”
Recent Cotality data showed that listings nationwide have dropped, with the number of properties listed in the last 28 days falling 10.2 per cent, while total listings fell 14 per cent lower than last year.
Tiller said that agents who understand the stock level in their market could leverage the data and educate home owners, encouraging them to come to market.
“Agents can see the evidence and they can justify the fact that they will achieve a good price because the demand is out there.
“Those vendors can be assured that they’ll achieve a pretty good price in the current market,” Tiller said.
According to the data, listing numbers across Sydney, Melbourne and Brisbane have fallen by 9, 3.5 and 15.3 per cent, respectively.
Perth has seen the most significant drop in listings, down 22.5 per cent.
In comparison, only regional Victoria has managed to buck the trend, with listing numbers climbing 2.3 per cent higher than last year.
Tiller said that sellers who have prepared their property ahead of time are the best positioned in the competitive market.
“Stock remains well below normal in most markets, so quality homes are attracting strong enquiry, competitive auctions and clean offers,” Tiller said.
“With fewer options for buyers, well-prepared listings are standing out.”
Additionally, Tiller said that better weather and increased traffic played a significant role in driving sales during spring, when auction campaigns become a more popular method of sale.
“With the sun out, particularly with a home, they can present their garden well while more people are out and about looking at property.”
Tiller said that with the end of the year approaching, sellers needed to be prepared for more motivated buyers, particularly families, who are looking to make a move before summer and the new year.
“The looming school year can certainly provide an incentive for families to take action, particularly if the property is within their desired area.”
Additionally, Tiller said the spring selling season often drives faster auction clearances, with clearance rates recently hitting a four-year high, as buyers’ heightened sense of urgency increases market activity.
“It makes sense particularly at this time of year as people are keen to secure a deal by the end of the year,” Tiller said.
“We have seen different levels of listing activity at different times, but definitely coming into spring, particularly in the southern states, it is a more favourable time to sell.”
As a range of factors influence a property’s value, Tiller said it’s important for sellers to understand both their home assets and the surrounding neighbourhood.
“After such an extended period of growth, spring is a good time for sellers to get an appraisal to see how much equity they have in their home” Tiller added.
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