Spring Brings a Flourish in the Property Market

With spring on the horizon, the property market is set to bloom. As the days grow longer and the weather warms up, buyers are emerging in force, making spring 2024 an ideal time for property transactions. Here’s how to gear up if you’re planning to buy in the coming weeks.

As we bid farewell to winter and embrace lighter wardrobes, sellers are gearing up to showcase their homes in their best light. Spring is traditionally a prime season to invest in a property, with homes looking their best as gardens flourish and the sun invites us outdoors. Plus, a spring purchase means you could settle into your new home just in time for the festive season.

Why Spring 2024 Is Especially Exciting

One of the standout reasons this spring is set to be particularly dynamic is the increase in property listings. CoreLogic reports that spring listings have surged by over 18% in the past decade, offering buyers a broader selection. Typically, home sales see an 8% uptick during this season.

This year, the trend continues, with a notable influx of real estate listings coming onto the market during autumn and winter, according to CoreLogic. This has contributed to a more balanced market compared to last year, when sellers had a distinct advantage.

However, despite the increase in options, quality homes are moving quickly. For instance, in Perth, the median time for selling a property is currently just 10 days, as highlighted by CoreLogic. Buyers who act promptly may gain a competitive edge.

Tips for Gaining an Advantage

To navigate the bustling spring market effectively, consider these three key strategies:

1. Create a Wish List

As you explore various properties, it’s easy to become overwhelmed. Simplify your search by listing your must-have features and differentiating them from desirable but non-essential ones. This approach helps streamline your search and ensures you focus on homes that meet your criteria.

2. Determine Your Budget

Accurate budgeting is crucial when buying a home. Seek advice to understand your borrowing capacity and establish a clear budget. This will help you focus on properties within your financial range and avoid unnecessary stress.

3. Get Pre-Approved for a Home Loan

Mortgage pre-approval signals serious intent and can significantly reduce stress during the home-buying process. It also empowers you to bid confidently at auctions by setting a firm limit on your highest bid.

If you need assistance with arranging a home loan pre-approval, we at Osinski Finance can tailor a loan that suits your needs.

Ready to Seize the Spring Property Boom?

As spring heats up, so does the property market. Whether you’re a first-home buyer or a seasoned property investor, now is the perfect time to get organised and ensure you’re ready to act when the right opportunity arises.

Reach out to us for a personalised discussion about your property goals, and let us assist you in finding a home loan that aligns perfectly with your needs.

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