Selling and buying in the holidays often has a lot of connotations attached to it, both positive and negative. Some schools of thought believe that the market dies off at Christmas and New Year and should be avoided. The same people will advise you to wait until the middle of January when the market typically kicks into full swing. On the other hand, you might hear that it’s the perfect time of year to nab a bargain or secure a quick sale.
Here we look at the advantages and disadvantages of buying and selling property over the holidays.
Advantages for sellers
• At this time of year there are typically less houses on the market. Less supply may equal less competition from other sellers and increased competition among buyers for the limited stock there is
• If you’re selling in a holiday area, there may be greater traffic and increased interest from a wider range of buyers who may be in Goulburn visiting family
• If they’re looking to buy at Christmas, buyers are generally serious about a sale and may want to have the process finalised quickly. This could potentially mean a swift sale and settlement.
• The beginning of any year is typically a popular time for relocating, with people changing cities and states for study, work opportunities or simply for a change of pace. By listing during the holidays and beating the January rush you might be able to reach these buyers first and appeal to those who want to have a property secured in advance, ready for a move early in the New Year.
Advantages for buyers
• There is less traffic around, typically agents will show properties by appointment at this time of year giving you a chance to have a thorough look at the property you’re interested in
• You’re on holidays and therefore less time-poor, giving you more time research and view a wider range of properties
• If you’re a buyer looking to secure a property over the holidays you may have greater flexibility to work with the owner towards a quicker settlement to be moving into your property before the end of the holidays