We’ve entered a time that many industry experts believe is a perfect storm for home buyers. Here’s a few of the reasons why:

  • Interest rates are still at a historically low level, and the recent November drop has improved affordability a little. Market commentary from experts in the finance industry suggest that it is likely that more rate cuts are too come. Further rate drops could increase buyer demand which would lead to price rises in the new year.
  • There is plenty of housing stock on the market. Spring is traditionally the time when sellers hit the market, so there are more houses available but with pretty much the same number of buyers as earlier in the year. More stock to pick from means there is a better chance of finding the home that best suits your needs, as well as giving you better bargaining power as the vendors compete to get a sale.
  • If you are planning to upgrade to a bigger home, a down market is the best time as the total change over cost will be lower compared to previous years. You might not get the price you’d hope for your current home when you sell, but you’re going to get an even bigger bargain on the larger home you purchase, which will put you in a better financial position than if you made the move in the last year or two.
  • We’re getting to the pointy end of the year when many people are more interested in Christmas shopping than house hunting. Owners that want to make a January move are going to have to be flexible to get a deal locked in now with the number of buyers dropping every weekend.

    • So if you’re in the right financial position to purchase your first home or upgrade to a bigger home, now could be a fantastic time. Make sure you’re finance is in order and start the hunt today!