*this article was previously published in the April 2018 Midland Express
Kyneton’s property market has continued to bust its own benchmarks with the latest Real Estate Institute of Victoria’s (REIV) data showing a swift increase in median sale prices. The median midpoint sale price of residential properties sold in Kyneton and surrounds hit $495,000 for the last quarter of 2017, compared to other regional Victorian towns which peaked at $397,000.
If you thought Spring was the most popular season to buy and sell a property, you might need to think again.
What is most surprising from this new data is the spike in sales during autumn months. The solid demand and restricted supply has seen the post-holiday period of April and May surge from 2016 – 2017.
And why is that? Autumn proves to be an active time for buyers who get a boost from New Year’s resolutions and the settling back into reality.
A combination of stable low-interest rates across the years and the push from metropolitan to regional towns has seen buyers keen to beat out the demand.
The ambient temperatures and transitioning colours of the autumn fall provide a unique opportunity to create for buyers to showcase their beautiful garden or property which can add considerable appeal to your property during a sale (and otherwise, too).
The reality is that buyers are remaining active year round to get ahead of the pack. Matters such as Easter, daylight savings and the commencement of the football season are no longer impediments for sales. And the REIV data shows just that.
Looking to sell your home this autumn? For more on how you can prepare your home for sale, head to jenniferpearce.com.au
Seasonal maintenance might not be on the top of your list most weekends but if you are considering selling in the coming months, there are a few small things you can do now to maximize on your investment and capitalize on profits.
- Check chimneys for obstructions such as nests. If you have fireplace or wood stove, get your chimney cleaned and serviced. If you plan on selling during the cooler months, having optimal heating will increase the possibilities of a sale.
- Ensure windows and skylights close tightly; repair or replace the weather stripping as needed. Drafty houses are harder to keep warm which not only mean higher electricity prices but an undesirable environment for prospective buyers.
- Clean leaves and debris from guttering and the roof, and test spouting to ensure proper drainage. Overflow and puddles is not a great sign for people seeking a warm, dry home. Also, spending a little time cleaning out guttering can help you avoid autumn water issues.
- If you are on septic and not town sewerage, make sure that it is checked and if required, emptied. The smell from some septic tanks can be off-putting to those considering living in your home.
- Winterise your landscaping. Protect your outdoor furniture by putting it into storage, prepare gardens and, if necessary, protect young trees or bushes for winter so that they survive the colder months. Also, the leaf litter from your gutters makes a great garden mulch.
- Check for cracks. Has your house shifted in the dryer summer months? Some houses in the Macedon Ranges develop plaster cracks as the house adjusts to the lower water supply. Patch, repair and paint to ensure that the house is fresh ready for you to put the house on the market.
In all cases of selling your home, it is important to plan ahead. Think ahead and imagine what the experience will be like for buyers when they come to buy in the cooler months.