Spring has always been a busy time for the property market. With longer daylight hours for viewings and more time spent outdoors, this time of the year has always seen a high number of sales. For many, spring is the perfect time to buy and sell property. The weather this year is no different, and spring 2021 could be a great time for investors to start making moves in the market.
The property market in Australia has seen a lot of change over the past couple of years. With the impact of Covid-19 causing some to buy for the first time and others to look outside the city, prices and popularity have been in flux. As many Australians work from home, space has been at a premium. New criteria for the perfect home have been emerging and new trends have emerged.
With these fluctuations in the market, some investors may have decided that it is a great time to buy. With many residential sales growing in competition, investors may have determined that they uniquely placed to buy and sell at this time. As more remote areas are growing in popularity (Byron Bay and the NSW South Coast in particular, have each seen notable increases in demand) investors may decide that it could be a good time to sell and invest in more urban areas.
As national vaccination rates rise, the roadmap to freedoms for many states is coming into view. The easing of restrictions allows more freedom of movement. While the property market never stopped, even in lockdown, freedom of movement should result in renewed momentum for open-house inspections and auctions. Increased freedoms should mean it’s easier to view more properties without arranging one on one viewings. The more houses you can get to could increase your chance of finding the one that’s right for your next investment.
Take advantage of the momentum the Spring weather provides and consider whether it could be time for you to invest. For investors who are looking to rent quickly, or use as short holiday letting, the summer months ahead could help to increase a return on your investment, with many looking to rent or holiday over the warmer period. As interstate and international travel still faces some uncertainty, the holiday market for local areas has been in high demand over the past year. Buying an investment property in the right area this spring might result in a quick yield in the summer.
Get the support you need
No matter whether you’re buying, selling, or investing, you always need the right support. To handle your conveyancing, you want a company you can trust. We’re a law firm with offices across the country, and we specifically work in property law. Our trusted and experienced legal team are ready to help with the conveyancing related to your next investment in real estate – or with selling your previous one. We’re transparent and upfront, so you know where you stand. Plus, we’re working to make the conveyancing process as digital as possible, to make life easier for you and to keep the sale moving.
If you’re making an investment this spring, talk to our team about handling your conveyancing.
This article is provided for general information purposes only. Its content is current at the date of publication. It is not legal advice and is not tailored to meet your individual needs. You should obtain specialist advice based on your specific circumstances before taking any action concerning the matters discussed in this article.