The spring market: bloom and boom
Spring has sprung, the weather is warming and traditionally, so does the property market at this time of year.
September and the months leading up to Christmas are often the busiest time to sell. The good news is, this year is looking to be hotter than ever, with properties for sale being snatched up by hungry buyers in record times.
Natasha McElwaine, managing director of McElwaine Real Estate explains why spring has such appeal.
“Buyers want to relocate and get settled before the first term of school, before jobs start up again, and to get organised in general for the coming new year,” she said.
“Certainly there is no question that spring brings an aura of new birth in nature and all things so we see it from a unconscious view that we want something new and fresh and it symbolises a new start and a new journey in life.”
According to industry figures, spring is often the time when the allure of a better lifestyle becomes a strong selling point. Houses are looking at their best with blossoming gardens, warmer days and the feeling of possibility and excitement is in the air.
Buyers from the region and beyond are realising the quality of life they can have here in the Hunter, and are willing to pay a premium price for the kind of living they’ve only been dreaming about.
According to recently released Domain statistics, Maitland has recorded a year on year house price increase of 5.9% and growth across the Hunter is going up and up. Fairfax Media reports that the region’s construction boom, our close proximity to Sydney and limited supply in the market is part of the driving force force behind the boom.
And it looks set to continue into the final months of the year.
“The market for spring time is shaping up to be stronger than ever in the Hunter,” Natasha said. “Most areas of the regionare leading forward with strong growth and in some areas we are seeing 10-15% capital growth.”
“Buyers are waiting to see what properties come into the market, so I am super excited for spring time to kick in where the properties will shine and warmth will make us all feel the joy that spring brings.”
With federal interest rates still on hold, and expectations that they will stay that way for the rest of the 2018, this stability represents a great time for vendors.
These conditions has seen Maitland land values increase 8.3% from 2016 to 2017, rising from $5.3 billion to over $5.8 billion, according to the NSW Valuer General.
The market here in the Hunter area is robust and with the seasons turning, now is the time to take advantage of a seller’s market.
And with Christmas fast-approaching, those dreams of family gatherings, lazy summer barbecues and long afternoons can become a reality.
“The great news is that in coming months we have a fabulous variety of homes coming onto the market,” McElwaine agent Peter Dehnert said. “We will have homes that will appeal to a range of budgets across all of the popular suburbs. Properties to suit first home buyers, upsizers, downsizers, buyers looking for large blocks and family living will all be launched prior to Christmas. We pride ourselves in succeeding in finding the right home for you.”
The optimism at this time of year cannot be ignored. It’s the chance for a fresh start and endless possibilities and we all share in the happiness.
“I personally love this time of year, there’s loads of colour, new life and people are happier too,” Natasha said.
“We bring properties to life and nurture the creation of gorgeous lifestyles in those properties, and certainly spring adds to it all.”