We’re now into the second half of the year, and the Australian property market continues its rebound after months of doomsaying.
Value growth stands at 3.5% for combined capital cities this year, and we’ve registered 11 straight weeks of 70%-plus auction clearance rates, based on figures to the end of June.
The bellwether city that tends to determine value strength is Sydney, and it’s boasting a value increase this year of 5.9%. For investors, it’s also the most expensive city for weekly rent at $739.
Melbourne is having a harder time. It’s 4.9% down in value growth compared with the corresponding period last year. However, it’s given to Adelaide the crown of Australia’s cheapest capital city to rent. A CoreLogic survey says its average weekly rent now is $551, beating the South Australian capital by $2!
If you’re thinking of selling shortly, one key consideration is the number of homes coming onto the market. According to industry researcher CoreLogic, the supply in every city remains tight.
Sydney has only 5.9% more properties for sale than this time last year. It’s even tighter in Melbourne (+1%) and Brisbane (+2.4%).
To find out how your local area is performing, please do not hesitate to contact our agents. We can discuss price trends, buyer preferences and marketing ideas designed to maximise the value of your home.
In the meantime, we’ve listed six best ideas to help prepare your home for sale.
Declutter and clean
Leave no stone unturned. Clean every room, the kitchen appliances, and windows, and have carpets professionally steam-cleaned. Remove personal items as you want prospective buyers to envision living in your home rather than feel like they’re a visitor.
Fix every issue
Prioritise noticeable repairs and maintenance, such as leaking taps, squeaky doors and cracked tiles. Cosmetic improvements, like repainting the interior, is a relatively cheap but high-impact approach.
Love at first sight
First impressions are the most important. Focus on a tidy garden and welcoming entrance. Consider a few additional plants to soften the lines of the home. Fix any cracks in the footpath or driveway.
Awesome
Interview at least three agents before making a decision. You want someone who has experience in selling your type of property. Double down on their communication and marketing skills.
Paperwork focus
Don’t forget to gather relevant documentation for the new owner. This may be a fixed appliance warranty, a guarantee for the carpets or council documents regarding an extension.
Dress rehearsal
Ask for a pre-listing inspection to ensure you have done everything possible to prepare for an Open House and multiple inspections.