Winter best for buyers, Autumn for sellers: exclusive report
That's the finding of exclusive new research, which crunched the numbers on historical sales results and found winter was when buyers could get the best deals.
The Ray White analysis measured the average prices achieved in each month, relative to sales across the rest of the year, to determine the best time to buy and sell in each suburb.
July and August were the two main months across major capitals.
Combine this with the timing of the current RBA rate lowering cycle and the beginnings of value growth in various markets, and buyers are presented with an opportunity to begin immediately creating wealth in the form of equity.
In Sydney, July was best for nabbing a bargain for 127 suburbs, including a whole lot of big name, sought after postcodes.
MORE: Best time to buy and sell in all Sydney suburbs revealed
August took the crown for the cheapest month to buy in Brisbane, while winter as a season was best for bargains in 718 suburbs, followed by summer with 524.
Chief economist of property firm PRD Real Estate, Dr Diaswati Mardiasmo, said while winter was perceived as a slower real estate period, competitive buyers often used the season to house hunt behind the scenes.
'During the winter months, you may not see a lot of people,' she said. 'That does not mean people are not actively bidding or buying.'
MORE:Best months to buy and sell in all Brisbane suburbs
It narrowly outpaces January, when it's the best time to buy in 96 suburbs, however Ray White chief economist Nerida Conisbee said with a number of other suburbs recording their second or third lowest medians in January over the timeline, it was overall the most affordable month to buy a home in.
MORE:Best months to buy and sell in all Adelaide suburbs
While sellers in both months are likely to be very motivated to lock in a deal, potentially explaining the typically lower prices, Ms Conisbee said spring could also easily work in buyers' favour — especially if they made a move before expected rate cuts drive prices up.
When it comes time to sell, the figures, going back a decade, show Autumn to be a more successful season than the traditionally revered spring.
May was the best time to sell Adelaide houses, while September and July were the best time for buyers to bag a bargain for houses and units respectively.
MORE:Best months to buy and sell in all Melbourne suburbs
In Melbourne, the data showed the most profitable time to sell is March, prompting experts to warn against flooding the market with properties in spring.
Melbourne was another market where July was the winning month for buyers, with prices at their most affordable in 108 suburbs.
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