Geelong: The best time to sell in your suburb revealed

Ray White chief economist Nerida Conisbee said it makes sense why people want to sell in spring, but the glut of property can be a drag on prices.

New data blowing the myth that spring is the best time to sell your house reveals when homes in each Geelong suburb achieves top dollar.

The Ray White research found a handful of major Geelong suburbs scored their best prices in the spring months of September, October and November.

The research, analysing 10 years worth of residential property sales to detail the months with the highest and lowest median home prices for 77 localities across the Geelong region, reveals February, March and April were the best time to sell in many areas.

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Ray White chief economist Nerida Conisbee said while improving weather and a season where gardens can look their best made sense for many people, the research revealed the drawbacks of selling at the busiest time of the year.

“It makes sense. People traditionally like to sell in spring is because their homes look better and they want to get in before Christmas,” Ms Conisbee said.

“All these things lead to a higher level of activity in spring.

“But the reality is that trying to sell in a very busy market or a very well supplied market is a bit more challenging, so selling at other times can make sense.”

The three-bedroom house at 53 Moreton Bay Drive, Highton, has been listed for sale with price hopes from $750,000 to $800,000.

The three-bedroom house at 6 Helen St, Rippleside, is listed for sale with $1.35m price hopes.

The data revealed homes in Highton, central Geelong, Rippleside and St Albans Park scored their best results in spring.

Among the 15 areas where the best prices were in spring were areas such as Lethbridge and Bannockburn, Curlewis and Charlemont and Fairhaven and Anglesea on the Surf Coast.

January was the best month to sell in coastal areas such as Bellbrae, Breamlea and St Leonards, along with inner city Geelong West and South Geelong, the research revealed.

February, March and April were the best months for 32 suburbs, including Lara, Corio and Bell Park in the north, to Grovedale, Newtown and Leopold and Torquay and Ocean Grove on the coast.

Ray White Lara agent Matthew Wade-Taylor said sellers faced more competition for buyers in busier spring months.

The four-bedroom house at 5 Meda Court, Grovedale, is listed for sale with price hopes from $740,000 to $780,000.

The two-bedroom house at 4 Queens Rd, Newtown, is listed for sale with price hopes from $1.1m to $1.2m.

“A lot of people do want to go to the market in spring. They think the weather’s great, the plants, the garden, everything’s looking perfect,” he said.

“Coming into spring, you’ve got a lot more competition you’re working against.

“I’m seeing a little bit more of a spike in the cooler months. There’s not a lot on the market, therefore, the competitions with the buyers.”

But Mr Wade-Taylor said most buyers don’t pay much attention to when they sell.

“I always say to my clients, the best time to go to the market is when you’re ready.”

While winter was the best time to sell in Armstrong Creek and Belmont, the research revealed the season was the slowest market for many suburbs, with 17 recording their lowest median sale prices in August, followed by 14 in August.

The three-bedroom house at 8 Cardross Court, Corio, is listed for sale with price hopes from $520,000 to $560,000.

The four-bedroom house at 31 Briody drive, Torquay, is listed for sale with price hopes from $999,000 to $1.05m.

Ray White Highton agent George Politis said quiet months such as June can be strong.

“People will go after that house that might be 90 per cent correct for them, rather than the 100 per cent, so they’ll accommodate what’s on the market at that time,” Mr Politis said.

“At spring, you’ve got an influx of homes, so the buyers’ desires are a little bit more fluid because of instead of looking at say five properties, they are looking at 15 during the spring market.”

THE BEST TIME TO SELL IN YOUR SUBURB

Source: Ray White Economics.

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