Geelong: The best time to sell in your suburb revealed
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.
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 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.
'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.
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
Suburb High Price Month High Price Low Price Month Low Price
Geelong West January $845,000 June $685,000
South Geelong January $882,500 March $575,000
Lara February $640,000 September $585,000
Waurn Ponds February $713,000 January $609,000
Barwon Heads March $1,330,000 July $945,000
Bell Post Hill March $590,000 June $485,000
Corio March $415,000 July $370,000
Grovedale March $599,000 September $510,000
Leopold March $595,000 June $526,000
Newcomb March $525,000 October $430,000
Ocean Grove March $850,000 August $735,000
Whittington March $480,000 December $360,000
Queenscliff March $1,320,500 December $805,000
Drysdale April $690,000 June $590,000
Hamlyn Heights April $645,000 August $547,000
Indented Head April $815,000 July $560,000
Newtown April $1,010,000 January $840,000
Torquay April $1,045,000 July $860,000
Manifold Heights April $940,000 August $760,000
Mount Duneed May $710,000 September $641,000
Lorne June $1,675,000 August $860,000
Armstrong Creek June $650,000 January $615,000
Belmont June $630,000 July $557,000
Aireys Inlet August $1,420,000 July $735,000
Apollo Bay September $825,000 July $565,000
St Albans Park September $505,000 January $442,000
Rippleside September $1,185,000 December $775,000
Fairhaven October $1,850,000 February $1,000,000
Bannockburn October $680,000 December $575,000
Curlewis October $650,000 January $581,000
Anglesea November $1,200,000 September $795,000
Geelong November $885,000 June $730,000
Highton November $767,000 August $715,000
Wandana Heights December $895,000 July $725,000
East Geelong December $710,000 April $620,000
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