Property News 20 October 2023

Brisbane homeowners taking their property to market during the traditional spring selling season are reaping higher returns, with new data revealing the best and worst time of year to sell your house.

The PropTrack Market Insight Report shows owners selling in October achieve prices 0.52 per cent higher than average, according to the analysis of selling prices from 2013 to 2022.

Properties sold in November reap 0.25 per cent more gains for vendors, as buyers rush to snag their new dream home in time for Christmas.

This equates to about $4,000 in higher returns for sellers on a typical house priced at $750,000.

PropTrack economist Paul Ryan said the findings were consistent in most markets around the country, coinciding with the peak of the traditional spring selling season when “buyers are out in droves”.

Nationally, sale prices were 0.8 per cent more for properties changing hands in November.

Conversely, the winter months of June and July saw vendors taking the biggest hit, with sale prices down about 0.9 per cent. Brisbane owners took a 0.54 per cent cut in June.

“The start of the calendar year’s selling season over February and March also corresponds to seasonally higher prices,” Mr Ryan said.

“Home prices nationally are already back at their peak after nine months of consecutive growth.

“With the spring selling season underway and November approaching, it’s likely ongoing price growth combined with a seasonal boost will benefit many sellers over the next few months.”

Place New Farm principal Sarah Hackett said the group’s auction clearance rate had lifted from around 60 per cent in July to 82 per cent last week, with an average of 6 registered bidders compared to 2 in winter indicating a surge in buyer activity.

“For sellers, spring is a great time to showcase their property when the sun is out and the gardens are looking their best,” Ms Hackett said.

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