Brisbane, best selling time of year?

Looking at selling investment property sth side Brisbane.
Would appreciate advice on good time of year season spring summer etc for selling property for maximum exposure and return. Smart buy investment now smart sell property.
Look forward to any good advice. Every real estate says sell any times good.
Need un bias advice please. thanks

 

I have never sold an IP in Brisbane, mainly because I am 'buy and hold' investor. To me, selling destroys net worth through fees and CGT. So, I can't speak from experience.

I always understood that the best months to sell in Brisbane were September (fine weather, not too hot, new owner can move in and be settled before Xmas if PPOR, ... but watch out for football grand finals) and April (fine weather, not too hot, .... but watch out for Easter).

Having said all of that, as a buyer, I ignore all of the above. With the last seven IPs I have bought (all in SE QLD), two were in December and five were in February. To me, I treat the buying of IPs as a business. I buy when I have the money, when I see the right property and when I can get it for the right price. I don't care if it is raining or it is too hot or lots of people are looking, ...

Instead of trying to pick the best month, I believe it is more important to try and pick the best 'state of the market'. It is not ideal to be selling in a depressed market when no-one is buying, listings are in the market for a long time, sale prices are discounted significantly to list prices, etc. One would expect to do far better in a hot market.

 

sound advise from @kierank , In that its about the market not the weather. the old beat up about selling in spring might be relevant if your selling the botanic gardens or it was in a location significantly affected by ranges in climate ( i lived in Louisiana for 18 months , 40 in summer , - 0 in winter ) . Interestingly, in September, when everyone thinks it's the best time to sell so they list, there is a lot of stock on the market which creates supply/demand issues and that effects market values.

Give consideration to whats relevant to the property and your target market. As a simple example, If its near a school ,and that creates traffic issues at pick up time., structure your marketing strategy around that.

If your reinvesting, it doesn't matter what market conditions are as your buying back in the same market,however if not, I would sell sooner rather than later. I have no doubt the market will soften sometime next year.

good luck

 

After walking past several houses in the south brisbane area that were up for auction later this month and next early this morning ,and some on the market for the first in 30-40 years all have under contract signs any time is a good time to sell in south brisbane and they have only put those under contract signs up over the last 48 hours and as some sales people only put that sold sign up when the contract is rock solid ..Then it would all come back too you,how long have you held the property,is the property a unit,small inner city old 50's weatherboard house on a even smaller block that are rezoned for multi high rise development,the sales turn around times would depend the on the property location and the land value,that would be the first cab off the rank pay someone to value and find the zoning ..

 

sorry haven't replied yet, got a bit on atm, will soon

 

Brisbane Lord Mayor raises concerns of overdevelopment

Quote..
Population growth in Brisbane is a given — the alternative is to build a Donald Trump-style wall between us and New South Wales," Cr Cumming said.

 

@wylie I'm talking Brisbane, but I suppose they are all linked in one way or another.

It's based on gut instinct, opinions of respected property/industry people I speak with regularly and and I suppose experience... I've been in the industry through 5 cycles and as much as I am the first to agree that I think there are now markets within markets and it's not that simplistic, there do seem to be trends.

I agree, there has been no boom and no matter what, i think we are poised for a reasonably soft landing because of that but there are a couple of major factors that are influencing my opinion:

The residential market was notably softening prior to the last rate cut - it got artificially buoyed when that happened so if/when there is an increase I think the impact will be significant, but more importantly I think the oversupply of new apartments being built is going to end up with a lot of people in tears as they come around for settlement in 2017.

I'm expecting issues with settlement defaults when valuations come in ( and as in the GFC, Valuers concerned about protecting their PI insurance premiums will dramatically compound those problems). Many of these people have been sold the dream by marketeers on inflated prices and trumped up projected rents and occupancy rates that are going to be nowhere near what the glossy brochure said. ( see Domain article from yesterday below)

So even if the "mum and dad investors" can top up the equity to get to settlement, how long can they hold out without a tenant ( a lot of which have capitalised on,low rates and bought themselves) before they have to drop their pants in a building thats full of highly geared, empty apartments.

Most of that stock is 1 and 2 bed apartments in the very inner city, mostly Fortitude Valley, Newstead, New Farm, West End, South Brisbane etc but Brisbane is not that big, or sophisticated a market that the ripple effect wont be substantial.

Finally, the straw that will break the camels back will be the press. Bad news sells and in a one tabloid market if the Courier Mail starts to say the markets falling,everyone else will get on board and it will fall !.

Brisbane rentals: Why tenants now have the power

 

Media has been pretty good at hiding the apartment glut so far, few million in marketing has that affect... Why would they hurt the hand that feeds?

 

Depends where on the south side, some suburbs sell well anytime of the year in the sought after pockets.

 

I think there's some validity to some of the points you make that there will be some impact of the apartments however Brisbane is still predominantly a housing market people aren't interested in apartments people want to have a dog and then want to have a trampoline and they still want to live close to the city centre those factors for houses that are located reasonably close to the city I think are going to hold and likely to increase slowly in price. Properties that are aimed at younger people or clusters of international students will definitely struggle but properties that are aimed at families there's no major competition with apartments.
I see the apartment issue as being a slight hurdle for Brisbane I think apartments will suffer but the market will take care of things and rents will drop on the stock that you mention where there's thousands in the interim people who actually want a house which is still very much the dream here and in most of Australia will continue to want to get a well located house. Not only that but they will be benefiting from the massively game-changing infrastructure that's going on here I think there is far more upside than downside to Brisbane.
In the blue chip suburbs I would much rather be looking for a house now than in the future just look at the extent of the renovation that's going on in West End in New Farm in Paddington people are ploughing in big dollars

 

Can't agree more that they are 2 different markets, and at the moment we have a 2 speed market - house market is strong right now and units was 6 months ago across all segments, but now the investor markets way off and FHB are spoiled for choice in new units and off the plan product anywhere within 6-7 k's of the CBD where prices have stagnated and there are deals around so thats effecting the existing apartments as well . The boutique product, larger footprints and high end is still doing ok but enquiry has come off a little bit in the last couple of months but I don't see and huge issues there .....

I'm expecting a general softening . A lot of it will have to do with how the media respond to it .

Lets check back in 12 months !

 

I like your intel @Agent30yrs. Keep us posted.
On the ground today i saw good turnout on houses close to the cbd in young professional OO start a family territory. Further out was flatter.

 

Imo the best time to sell is when there are few similar properties in the local area on the market. Because if the area is sought after, then everybody looking to buy will try just that little bit harder to buy your property as they have no or few other viable comparable options.

People tend to look for property all year round... (or maybe I'm just a bit different to everybody else anyway).

 

Happy too. I didn't call anything today so ran around and had a look at a few random auctioneers - 7 lots/3 auctioneers . couple sold prior saw good bidding all around except for a 1 bed unit in valley which had nothing, and a house at West End that was a disaster but that had nothing to do with the house or the market .

 

Can you tell us how the standard Joe Average FHBs are taking to apartments in high rises. What percentage want a high rise and what percentage still want a real house or townhouse that has some yard?

 

Not really angel, I'm not across all those markets - but obviously the criteria of new build and under 750k means the units can be inner city, the townhouses probably in the 5+ km ring and houses would probably be outside the 7 - 8 km.