How buying property in the lead up to Christmas can save you thousands!
Updated: Jan 11, 2019
Whilst everyone else is starting to wind down in the lead up to Christmas, savvy investors use this time to pick up the pace of their property searching to maximise the opportunities around this time where sellers are motivated, fewer buyers (competition) in the market and vendors and agents that are keen to close deals before Christmas. What this does is that it gives us stronger negotiating power to try and pick up a bargain.
“In the 8.5 years I have been watching and studying the Australian property market, it has always been November and December that has presented some of the best buying opportunities.”
Some of the reasons why November and December is one of my favourite times of the year to buy property:
1) Less Active Buyers in The Market (Competition)
At a time where everyone’s social calendars start filling up with Christmas Parties, Holidays and other Christmas festivities, what that means is that there is less active buyers in the market so therefore less competition
2) Sellers are Motivated
A lot of people who have their properties already listed typically mentally set Christmas as the date that they want to have the property sold by. Preparing the property for open for inspections in generally something that most vendors don’t want to be doing during their Christmas holiday period
3) Land Tax!
Land tax is a tax levied on the owners of land (that is not your primary residence) in NSW and Victoria as at midnight on 31 December of each year. So investors who are trying to sell a property and are above the land tax threshold can be very motivated to sell before 31 December.
4) Agents are motivated to finalise end-of-year sales
Just as everyone else is trying to wrap up all their work before the end of the year, real estate agents will be trying to wrap up all their sales for vendors too.
In the 8.5 years I have been watching and studying the Australian property market, it has always been November and December that has presented some of the best buying opportunities.