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How Autumn Shapes the Property Market in Australia?

Autumn property market in Australia showing a house and autumn leaves

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Autumn property market in Australia showing a house and autumn leaves

How Autumn Shapes the Property Market in Australia?

Since the chilly autumn winds have set in, you might find yourself pondering: is this the perfect season to plant the seeds of property investment? 

While real estate agents traditionally tout spring and summer as prime seasons for property investment, Autumn offers its own unique advantages.

With less competition from sellers and more urgency from buyers eager to capitalise on early stocks, Autumn presents a window of opportunity for savvy investors. Let’s explore why this season could be the ideal time for you to reap financial rewards and cosy up to a fruitful investment.

National Home Value Index Trends 

Corelogic’s National Home Value Index rose by 0.6% in March, reflecting positive growth in dwelling values across most capital cities excluding Darwin (-0.2%). Of particular note is the exceptional performance of smaller capital cities during March. Perth, Adelaide, and Brisbane have all achieved record-high home prices, boasting impressive annual growth rates of 18.62%, 13.47%, and 12.90%, respectively. This upward trend underscores the resilience and potential of the property market, instilling confidence in buyers and sellers as they navigate Autumn’s opportunities.

Stable Interest Rates Boost Confidence 

Recent data indicates a continued slowdown in inflation in Australia, alleviating concerns about further interest rate hikes. The Reserve Bank of Australia (RBA) decided to maintain the cash rate target at 4.35%, with expectations of stability until mid-2024, followed by a gradual decline to approximately 3.2% by mid-2026. With interest rates holding steady, Australians are feeling more optimistic about the economic outlook and their household finances. This positive sentiment fuels greater engagement in the property market, driving demand and supply dynamics.

Increased Property Listings

Autumn typically sees fewer properties on the market compared to spring, but recent data reveals a notable uptick in property listings, contributing to a 7.2% year-on-year increase in the total number of listings nationwide. April and May are anticipated to be particularly robust months for sales volume, as sellers aim to capitalise on pre-winter demand. This surge in listings presents ample opportunities for buyers to find their ideal home or investment property, while sellers stand to benefit from heightened demand and less competition.

Motivated Buyers in the Market

Autumn heralds a resurgence of buyer confidence and FOMO across the country. Evidently, the preliminary auction clearance rate remains above the 70% mark, indicating strong market momentum. CoreLogic reports a 9.5% increase in home sales during the first quarter of the year compared to the same period last year, reflecting heightened buyer activity. This increased momentum and flexibility among buyers create an environment ripe for property transactions.

With these factors in mind, Autumn presents a compelling opportunity for both buyers and sellers to make their mark in the property market. Whether you’re considering buying or selling, Autumn offers a golden opportunity to sow the seeds of success and reap the rewards of strategic property transactions. 

If you’re ready to embark on your property journey this season, we invite you to book a call with a PropHero expert. With the right strategy and timing, you could be on your way to harvesting financial success in the dynamic landscape of the property market. Let’s harness the energy of autumn to cultivate your property dreams.

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