There’s no doubt that Australia’s housing market is going through a turbulent time. So how will this affect you if you’re looking to sell your home?
The Australian housing market: A tale of two halves
The news is filled with scare stories about the cost of house prices falling across Australia by as much as 7.7% on average in major cities. While this has panicked many homeowners who are looking to sell, the reality is this is typically affecting our capitals, with cities such as Melbourne and Sydney the worst hit after a period of rapid growth.
So what’s the good news? For house sellers in Queensland, the market is much more stable. Last year house prices in Brisbane dropped by only 0.3% and are now recovering, with apartment prices forecast to be up 0.9% this year. What’s more, rural and higher-end property areas are actually seeing growth in house prices, which means now could be the perfect time to sell if you have a home in an idyllic part of the country.
A market awash with buyers
Despite falling house prices, many are still priced out of the market in our capital cities. In fact, in the three months to September 2018, 11,490 people moved from Sydney north to Queensland, including to comparatively more affordable areas such as Brisbane and the Gold Coast. As such, Queensland is becoming a hot destination for house buyers looking for a more affordable alternative to capital-city mortgages.
However, lower house prices across the nation may mean good news for those looking to sell their house fast. Falling house prices can often enable more buyers to enter the market. It’s also a particularly good time to snag a sale from a first-time buyer who may find themselves finally able to get their foot on the property ladder.
Of course, that doesn’t mean you have to leave everything to the whims of the housing market. There are other ways to save money on your house sale.
Cut your costs when selling your house
Despite unfavourable conditions in the housing market, there are some ways to cut your costs when selling up. The traditional estate agent route incurs additional fees for things such as advertising and percentage-based commission. But beyond that, you’ll also find that you pay more to use a traditional estate agent due to the costs of running their high-street premises.
Instead, opting for an online real estate agent can significantly reduce the money you spend on selling your house. Services like HouseSettled, for instance, only charge one flat fee and include costs such as advertising. They’re also a more flexible option, so you can schedule viewings and get in touch outside of traditional office hours, yet with all the same support of the traditional real estate agent service.