What is the best time of the year to buy a house?

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People often talk about certain periods of the year as house  buying or selling seasons and while there are certainly peak periods, the best time of year to buy a house will be largely dependent upon your own specific circumstances and in some instances, the demographic area of where you intend to buy.

Perhaps the most important point of all to remember is that for most of us, a property purchase is a long term investment. Despite some relatively minor hiccups, the property market has consistently grown in value for decades. This fact should give you some confidence that any short term advantages gained by buying at a particular time of year will pale into insignificance compared to the relative gains that you can reasonably expect to make in the medium to long term.

With all that said, in most places within Australia you can expect the market to behave in certain ways in particular seasons. Characteristics of the market in each particular season are outlined below.

Buying a house in Spring

Spring is traditionally seen as the best time to sell a house, which normally results in an increase in listings to view at this time of year. While there are more listings to view, it is also the time when competition between buyers is most intense, this can result in house prices being a little higher at this time of year.

Buying a house in Summer

Summer is still a very active time for home sales, particularly prior to Christmas when vendors may be keen to “clear the decks” so they can start the New Year afresh and before the school- year starts. There may be opportunities for deals at this time, but you need to be wary of being taken in by the warmth and beauty of a house in all its summer glory.

Buying a house in Autumn

The housing market is typically a little softer in Autumn as there aren’t as many buyers competing at auctions. Surprisingly there is some evidence to suggest that Autumn is a really good time for house sales in terms of volume. As the market may not be as “hot” as spring, there may be some opportunities for buyers to make some bargain buys.

Buying a house in Winter

The cold months are the least active. That means there are less houses on the market and less buyers to compete with.

In Summary

The best time of year to buy a house is the time that you’re ready to make the move. Once you’ve done your research, and explored your eligibility and suitability for finance, it’s time to start looking. If you need help to get organised, feel free to contact Australian Finance Hub.

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The website provides general advice only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.

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