It’s no secret real estate is influenced by the cycle of the seasons. Traditionally when Spring arrives the mood lifts, the for sale signs go up and expectations rise that the hammer will go down. Is that what we can expect this year?
Sure, Spring can be a great time to sell – long days, warm temperatures and pretty gardens are enticing for buyers. Combine that with a timeframe that allows for buying, exchanging, and moving in ‘before Christmas’ and there is positive pressure for both vendors and purchasers to get a deal done.
However, as we all know the weather isn’t the only ‘mood’ that can influence property demand and prices. This year the big question is whether the onset of Spring will be enough to change the mood of the market given the ongoing uncertainty surrounding the domestic and international economy.
It’s also worth noting the start of Spring coincides with the crucial first 100 days of the new Albanese Government. The mood of the nation is influenced by how positive, proactive, and purposeful the electorate sees the future based on the performance of those first 100 days in office.
From where I sit, I do think Spring has the potential to lift the mood or the market.
Yes, there is very real cost of living stress and the potential for further interest rate rises will continue to be a weight on values. Momentum might not be at the levels we have become accustomed to, but I think the traditional Spring motivations to transact will fuel activity in the coming weeks.
Also, it does feel like the Albanese government actions taken to date, and their plans for the future, have been well received. The impact of that is despite economic challenges there does seem to be a sense of positivity ‘out there’.
Look, I’m not suggesting the mood will automatically translate into record-breaking results. I don’t think that’s realistic, but we’re not doomed. I think there is growing acceptance of the adjustment we have seen over recent months and the mood is swinging away from the gloom. With the onset of Spring, I hope we will see the market start to bloom.