Here it comes
Wednesday 23 Aug 2017
Watch what happens over the next couple of weeks. It’s the same every year but somehow we forget and it feels brand new. Spring is coming and with it will come the breathless anticipation of a surge in all things residential real estate. But I wonder what this year will actually deliver?
I anticipate activity will increase over coming weeks but I would really prefer to leave the breathless anticipation of a ‘Spring property boom’ to be checked. I don’t think it helps.
The increase in activity that occurs in Spring is the result of a combination of factors.
As we emerge from the Winter the warmer weather is certainly more conducive to making the effort to get out and inspect properties. I have said previously that in Winter our team know those people actively inspecting properties are obviously serious buyers rather than merely inquisitive onlookers.
In Spring the numbers inspecting properties increases as those onlookers return to the mix and no good agent will ever underestimate the potential for a casual viewing to turn into a serious deal being done.
Spring is also the unofficial start of the countdown to Christmas which represents a key deadline for families wanting to be settled in their new home. Families know when Spring arrives they need to hurry up and act on finding their new home if they are going to be in by Christmas.
And don’t discount the impact on the market of the tradition. Vendors and buyers now anticipate a boost in Spring and plan accordingly so the market boost is a self-perpetuating phenomenon. By their own actions in response to the expectation of a boost they make it happen.
So as Spring approaches there is going to be increasing action. That’s a great thing and our team is ready for it.
And so I think that setting expectations of a Spring ‘boom’ is unnecessary. We have seen throughout Winter that prices are holding and I anticipate that to remain the case over the coming months.
That is a realistic expectation and a very healthy reality. I urge buyers and vendors to believe that reality and leave any breathless anticipation of a surge to the Spring blossom.