Good news to all the first home buyers and investors!! According to the recent survey it is found that more Australian homeowners are believing that now is the right time to sell their homes as price metrics are strong as compared to last year. 

As per the senior data analyst there are 44% of potential sellers in July believed that it was the right time to sell , which is up from 37% last year. 

With the confidence of property owners being bolstered by robust price growth, there is a greater number of owners who believe that the present is an advantageous moment to sell their properties than there was a year ago.

There was a lot of support in Western Australia, South Australia, and Queensland, where home prices have gone up significantly in the last few years.

Western Australia recorded the highest sale

Western Australia exhibited the highest level of seller confidence, with more than two-thirds of respondents expressing optimism regarding the sale, an 8% increase from the previous year.

South Australia followed, with 63% of sellers expressing confidence, and over half of Queenslanders also believed that the current market was favourable for selling.

On an average there was a 13% increase in confidence in New South Wales, with 45% of potential sellers prepared to list their properties.

Mixed confidence across the states

In contrast, Victoria exhibited a lower level of optimism, with only 29% of respondents believing that the time was opportune to sell. Nevertheless, this marked a substantial improvement from 19% in July 2023, indicating a 55% increase in sentiment over the past year.

Personal circumstances, including downsizing, upsizing, retirement, and changes in relationship status, were the primary factors that motivated vendors to contemplate selling on a national scale.

“The majority of respondents in the majority of states indicated that they were selling due to personal circumstances.”

Price growth and demands are the driving factors

In Western Australia, 39% of vendors identified high buyer demand as their primary reason for selling, with a significant number also mentioning escalating property prices. Perth’s property values increased by 13% year over year, while regional WA prices increased by nearly 15%.

The elevated prices were also noted by South Australian respondents, with Adelaide’s property values increasing by 15% and regional prices increasing by 9%.

In spite of the robust market in Queensland, a substantial number of sellers were driven by personal circumstances rather than merely market conditions.

Downsizing & Moving out of the city 

Reducing expenses emerged as a significant factor, with nearly 25% of respondents intending to decrease the size of their homes. This trend is likely to be influenced by an ageing population and retirees who are seeking to access their equity.

“The ageing population of Australia has resulted in a greater number of retirees having substantial equity in their family homes and are relocating to more suitable accommodations.”

Additionally, a substantial number of individuals were upgrading, either to capitalise on financial gains or to pursue properties that required less maintenance.

The survey also revealed that 19% of sellers have considered relocating to coastal or mountain areas in favour of cities due to hybrid working arrangements, which continues the trend of migrating from urban centres to regional locations. 

Stability Ahead For Prices and Demand

While many sellers believe the present market is beneficial owing to high prices and demand, fewer anticipate these circumstances to last.

More sellers foresee price stability rather than rises in the next six months, with 38% anticipating flat pricing and 33% expecting growth.

Similarly, prospects for demand remained muted, with just 31% expecting an increase.

Concerns about future interest rate rises have also increased significantly, up 65% from the last poll in April, indicating that sellers are keen to move before circumstances deteriorate.

Profiting on a perceived optimum moment to sell.

The robust listings witnessed throughout winter, along with year-on-year increase as spring approaches, indicate that sellers are ready to take advantage of what they consider as a favourable selling window.

These patterns indicate that sellers may be attempting to profit on what they believe to be the greatest moment to sell, highlighting the pressure among homeowners to act before market circumstances change.

Thinking About Selling, Buying, or Investing? Let ASK Financial Open the Door to Your Next Big Move!

At ASK Financial, we don’t just offer advice—we create personalised solutions designed for you. Whether you’re cashing in on the booming seller’s market, searching for your dream home, or investing in your future, we’ll guide you every step of the way.

The market is hot, and now’s the time to act! Our team of experts will help you seize this golden opportunity to grow your wealth, maximise your returns, and make smart financial moves.

Don’t let this moment slip away—secure your future today!

Reach out to ASK Financial now and take the first step toward your next great success! Your dream property or next investment could be just a conversation away.

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