Preparing for a spring property purchase.

Spring has sprung and in the property world, it’s an exciting time of year. 

So, what will this year’s spring selling season look like?

• Property prices are still on the rise in many markets, despite the Reserve Bank of Australia’s recent interest rate hikes.
• Property prices rose 0.7% in July – the fifth straight month of gains.
• Listings are also on the rise but remain below 2022 levels.

If you’re a prospective buyer, you’ll need to be ready to jump when you find a bargain this spring.

Prepare yourself with these essential tips:

Tip 1: Do your research 

The property market is constantly changing. If you’re looking to buy, you’ll want to make sure you have the latest information at your fingertips so you’re confident when making an offer.

We can provide a range of reports to help you cover your bases. Get suburb reports with all the info you need to narrow down your property search. Access property reports with valuation ranges, recent sales data, and more.

Tip 2: Get your finances in order 

Speak to us about organising pre-approval on your finance sooner rather than later.

Pre-approval means a bank has agreed, in principle, to lend you a certain amount of money.

Having pre-approval gives you confidence during price negotiations with vendors. It may also give you an edge over other buyers without pre-approved finance. 

Tip 3: Find out why the vendor is selling 

Understanding the vendor’s motivation to sell may give you an advantage during negotiations.

What type of settlement terms and deposit will be most attractive to them? 

They may be moving interstate, or need liquidity fast, in which case they may drop their price for a shorter settlement. 

Maybe they need an extra-long settlement while they find somewhere else to live.

Or perhaps a larger deposit would make you more favourable compared to other buyers? 

Ask the real estate agent why the vendor is selling and use the information as a negotiation tool. 

Tip 4: Rally your team

If you’re planning a spring property purchase, start thinking about which experts you want on your team.

You’ll need a reputable conveyancer or solicitor to take care of the legalities for you.

In addition, you’ll want to line up building and pest inspectors to make sure the property is free of unwanted surprises like termites and structural defects. If they do discover anything untoward, remember you can use this as ammo during price negotiations.

Get in touch

Property prices are on the rise in many markets, but there are plenty of opportunities out there for savvy buyers.

Take the initiative today and talk to us to organise pre-approval on your finance and ensure you’re well-prepared to buy your first home, upgrade your next property, or invest in a lucrative property this spring.

Call 1300 780 440