Why Now Is A Good Time To Sell Image

Why now is a great time to prepare to sell your home

Selling

Banyule

Spring


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If you’re like most of us during COVID-19, you’ve got some extra time on your hands. So if you’ve been thinking about selling, there’s never been a better time to start to prepare your home for sale. 

It always takes a month or so to prepare a property for sale. You’ll need to complete those annoying odd jobs around the home, and maybe repaint one or two rooms that are looking a little tired. Lockdown has given most of us time to get these tasks ticked off our list. 

With restrictions set to ease in coming weeks, the property market will soon be humming again, with Melbourne and Banyule having gone into lockdown with plenty of momentum and pent-up buyer demand. 

One-third of sellers pulled their homes off the market at the beginning of the Stage 4 restrictions, and they are likely waiting for the perfect time to re-enter the fray. Instead, you should prepare now for the first wave of renewed market activity and capitalise on the buyer interest that remains in the market today. 

Prices have not plummeted, according to industry researcher CoreLogic. We’ve seen listings reduce by 28%, this is good news for you. It means there are fewer properties similar to yours on the market which is likely to generate stronger demand from potential purchasers. 

Additionally, prices were strong when the crisis hit. State capitals Melbourne and Sydney were recording double-digit price growth annually, and Brisbane’s prices were at record highs. 

Many positive trends are influencing the market that favour you preparing for sale right now. They include: 

  • Melbourne is scheduled to ease lockdown restrictions in the coming weeks. 
  • Mortgage repayment flexibility means the sudden rise in unemployment hasn’t hurt property values as they might normally. 
  • Interest rates are at an historic low with many 3-year fixed terms at less than 3%, which is driving buyer optimism. 
  • Many buyers remain in the market, seeking a deal or their ideal property, knowing they have fewer people to compete against. 
  • Investors have moved cash from the stock market and now seek a more stable, longer-term return from real estate, which has supported price levels. 
  • So once the Coronavirus shackles are off, there’ll be a release of the pent-up demand for property – and you want to be ready for that. 

We can provide a powerful combination of local knowledge, contemporary insights, vast experience and a long-standing reputation for excellence.  

Results are one of the keys to Miles Real Estate’s success and our experienced team of real estate professionals strive to achieve impressive outcomes for every property, from multi-million dollar mansions to studio apartments. Miles Real Estate’s dedicated staff demonstrate the highest level of integrity and understand that only hard work will deliver the desired results for our customers. 

Talk to us about how to best prepare your property, and seek guidance on any suitable buying opportunities for your next move.

Click here to view our latest sales results.

Click here to request a virtual appraisal.

The Team at Miles Real Estate.


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