What to expect for Australian real estate this spring

WATCH: What to expect for Australian real estate this spring

Transcript

00:00Spring is excitingly here and while we're all sitting at home admiring our new blooms,

00:05I thought I'd talk about what it means for the property market.

00:08It won't surprise you to know that values went up across Australia in winter.

00:12We saw a 1.8% rise nationally and regional areas almost kept on par with their capital city

00:18counterparts in terms of rising value. Hobart was actually the only capital city to slip backwards

00:24in terms of prices and we saw a month-on-month growth in August that was the biggest that there's

00:31been in 18 months. That's all just numbers though, so what does it actually mean for you?

00:36You probably know that spring tends to be a time when there's a big uplift in the number of places

00:41being bought and sold. This year, the conditions are pretty favorable for sellers. There's a tight

00:47market, prices are rising and demand-side policies like changes that are coming in for first home

00:52buyers on October 1st are expected to lift prices a bit further. It means that if you're a buyer,

00:58you might have to work harder to find something in your price point and to negotiate. And if you're

01:02a seller and you're really trying to maximize on these conditions, speaking to professionals and

01:07having your house look exactly how someone might want to buy it, very homely and welcoming will really

01:13help. Happy buying and selling season. It can be tough, but hopefully it is a good one for you.

01:22We will see one better.

01:23But let's have a great opportunity here.