Latest news with #NeridaConisbee
News.com.au
04-07-2025
- Business
- News.com.au
Geelong: The best time to sell in your suburb revealed
New data blowing the myth that spring is the best time to sell your house reveals when homes in each Geelong suburb achieves top dollar. 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
Herald Sun
04-07-2025
- Business
- Herald Sun
When to sell: Vic homeowners lose six figures to crucial mistake
Thousands of Melbourne home sellers are shoving their 'head in the sand' every spring, amid shock new data showing the most profitable time to sell is March. Real estate experts are second-guessing the city's 'archaic' traditions and warning consistently flooding the market at the same time each year is actually helping buyers. Ray White economics team analysis of sales for the past decade show that the highest monthly median prices for houses and units across the city are set during autumn, with price gaps in the hundreds of thousands of dollars and even millions for elite suburbs like Toorak, when compared to their lowest ebb in other months. RELATED: $36m blow to super fund-backed ISPT could hit Aussie retirements National Housing Accord up to 60,000 new homes short in first year Huge blow for Australia's housing crisis It's also revealed that July is one of the best times to buy a home, with median prices this month historically at their most affordable in 108 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. 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 for buyers who made a move before expected rate cuts drive prices up much further. 'Spring is a time when we see so much stock coming to the market, which is great for buyers – but for sellers it's far more competition,' she said. 'Even so, I would be starting to search right about now. 'That's also because rate cuts are coming, and we know as they do we will get more and more competition from buyers.' For those thinking of selling a home, the economist warned the high numbers of homes for sale in spring could be a reason to reconsider. 'On average, it does seem to be the autumn months that are better for prices,' Ms Conisbee said. 'Maybe it's time to rethink selling season. 'It's definitely well worth considering selling outside of spring because of the competition.' Professional auctioneer Andy Reid said a rethink was urgently needed by Melbourne home sellers. 'Summer and autumn have become the new spring; you launch in summer, in February, and sell in March,' Mr Reid said. 'Everyone has their head in the sand. Melbourne is the most archaic capital city when it comes to selling real estate.' He warned the city's obsession with auctioning homes at 11am on Saturday was also likely hurting sellers. 'You are putting your auction in the middle of the most productive day for any working family, so they have no time to do anything at the start of the day and then no real time to do anything proper in the afternoon.' That causes friction, which can cause some buyers who might have bid to be forced to choose between that and family events, their children's sporting commitments and their social life. Midweek auctions and those held earlier on Saturdays, at 9.30am, reduced that friction and could suit buyers better. 'We are clinging to a mentality that's stuck in the 90s,' he said. 'This is probably all working out in favour of the buyers, but with an asterisk — because it's still not fully convenient for them. 'We're adding friction to sales and that reduces competition, which the seller doesn't want, but a motivated buyer does.' The auctioneer added that for buyers who were willing to move against the crowd, there were reasons that others avoided midwinter and midsummer. 'In January, everyone has spent all their pennies on Santa, and in July everyone is waiting for their tax return to come through and boost their deposit,' Mr Reid said. He added that by maintaining the status quo, home sellers were effectively playing into the hands of home buyers. Cohen Handler buyer's advocate Nicole Jacobs said while buyers shouldn't pass over the right property in the hopes of timing a purchase, there were definitely times of year that gave them the upper hand. 'Now is a really good time to buy, and six months ago was a really good time, too,' Ms Jacobs said. 'But I wouldn't be waiting to January. You will be getting a few interest rate cuts between now and then.' For those considering selling, the buyer's agent said the core reason for a spring timeline was for homes that had a reason for doing so – which many don't today. 'If you do have a botanic garden in your backyard, you'd be crazy not to sell when it is at its peak,' she said. 'You may think you need to wait for spring, but if you don't have much of a garden, why?' She also noted that home sellers should be aware agents would try to time their sale to suit their calendar, and workflow – and not necessarily work in their best interests. 'If the agent doesn't have a lot of other listings going, they will try to persuade the seller to do so now, rather than wait,' she said. While she said she did traditionally buy a lot of homes in spring, when volumes of homes for sales were typically higher, December was also a good time to 'mop up' a lot of the properties that had struggled in the prior months. But not every suburb struggles at the same time, Eltham is among the 12 Melbourne suburbs that defy the odds and score the best results in July — when 108 others are historically at their lowest level. Jellis Craig Eltham director Tom Kurtschenko said he wasn't overly surprised, having worked solidly through winter for the past 20 years – despite agents in many other areas heading off on holiday when the weather cools. 'We like the winter months … though ideally you wouldn't book an auction on the key weeks of school holidays,' Mr Kurtschenko said. 'And, in spring, there can be a lot more choice for buyers.' He added that at the moment he was seeing a lot of people in the area looking to buy a home before selling, noting that the market would support that approach for many as prices rose. Loan Market broker Jacob Decru said there had been a surge in homebuyers seeking home approval in the past quarter, with large numbers now ready to go — and more on the way. While that could be good news for home sellers thinking about spring, Mr Decru said many of those looking to buy were hoping to make a move in July or August to beat any future rate rises that might drive prices up. 'The sentiment among buyers now is that it's a good time to buy,' he said. Sign up to the Herald Sun Weekly Real Estate Update. Click here to get the latest Victorian property market news delivered direct to your inbox. MORE: Inside Vic's $2bn housing shake up Toorak: $30m+ health-boosting mansion sold to overseas-based buyer Matthew Dellavedova sells bayside home after Melbourne exit
News.com.au
04-07-2025
- Business
- News.com.au
Inside winter's secret bargains for affordable home hunters
Queensland homebuyers can bag a bargain in winter with less competition and lower prices, new research reveals. Exclusive data from Ray White has found the cheapest time to buy a property, as well as when they are more expensive. August took the crown as the cheapest month to buy in Brisbane, with a median value of $620,000 over houses and units. SEE FULL LIST OF SUBURBS BY MONTH TO BUY AND SELL The winter months emerged as the cheapest time to buy in a whopping 718 suburbs around the state, followed by summer, when 524 suburbs recorded the most affordable sales. Meanwhile, spring had 486, and autumn rounded out the seasons with 357 suburbs. The winter period also took three of the top four months throughout the year where homes most often sold at their cheapest. 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.' 'People who are looking at houses in winter when they'd rather stay in bed on a rainy day like today, they're actually there to make a purchase.' Ray White chief economist Nerida Conisbee said these figures were due to higher activity occurring in spring, where buyers were given more choice in a busier market – making winter's cheaper deals a double-edged sword. 'Spring is the time that most people sell because their homes look best,' she said. 'If you're looking to buy, you tend to get the most choice in spring.' Ray White's research was calculated by measuring 2085 suburbs across Queensland over a period of ten years. It showed April was the top month where homes sold at their highest prices in Brisbane, coming in at a median value of $676,000 over that decade. April also appeared as the month where the most suburbs sold houses for the highest price, at 324 suburbs throughout the state. Outside of the winter months, January and September were the only others to appear in the top 5 months where houses most often sold at their lowest median price. Ms Conisbee said some of these months may have appeared so often due to a smaller range of appealing options for buyers. 'There's not much that's sold in January – people tend to go away, so there's not much activity,' she said. While winter had many suburbs selling at cheap prices, autumn was the state's cheapest season in terms of average median cost. Despite April's high prices in Brisbane, the average of Queensland's cheapest median house prices each season put autumn at $310,199. This beat spring and summer's prices of $350,386 and $360,352, with winter's overall cheapest prices coming in last at $426,749. Ms Conisbee added location played heavily into when homes would often sell the best. 'Location's really important,' she said. 'If you have a look at places closer to the beach, we find they sometimes get better results in summer, as there are more people are around and the weather is better.' Across every suburb, their cheapest months saw homes selling for an average median of $372,307. Dr Mardiasmo said the best way to balance buying cheap at any time of the year is to check the suburb you're shopping in for how it would look in the future. 'If you are looking to buy at the moment,' she said, 'it's not always about what's the cheapest. It's about making sure you get the best bang for your buck.' 'You want to be aware of what other developments, projects or constructions are [on] in your suburb', she added. 'That gives you a gauge on what sort of supply is going to come, because with more supply you get more choices.' 'You also need to be aware of what other infrastructure or commercial projects are on in the area … the more infrastructure, the more it's going to be one of those suburbs that keeps on getting new life.'
News.com.au
04-07-2025
- Business
- News.com.au
When to sell: Vic homeowners lose six figures to crucial mistake
Thousands of Melbourne home sellers are shoving their 'head in the sand' every spring, amid shock new data showing the most profitable time to sell is March. Real estate experts are second-guessing the city's 'archaic' traditions and warning consistently flooding the market at the same time each year is actually helping buyers. Ray White economics team analysis of sales for the past decade show that the highest monthly median prices for houses and units across the city are set during autumn, with price gaps in the hundreds of thousands of dollars and even millions for elite suburbs like Toorak, when compared to their lowest ebb in other months. Huge blow for Australia's housing crisis It's also revealed that July is one of the best times to buy a home, with median prices this month historically at their most affordable in 108 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. 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 for buyers who made a move before expected rate cuts drive prices up much further. 'Spring is a time when we see so much stock coming to the market, which is great for buyers – but for sellers it's far more competition,' she said. 'Even so, I would be starting to search right about now. 'That's also because rate cuts are coming, and we know as they do we will get more and more competition from buyers.' For those thinking of selling a home, the economist warned the high numbers of homes for sale in spring could be a reason to reconsider. 'On average, it does seem to be the autumn months that are better for prices,' Ms Conisbee said. 'Maybe it's time to rethink selling season. 'It's definitely well worth considering selling outside of spring because of the competition.' Professional auctioneer Andy Reid said a rethink was urgently needed by Melbourne home sellers. 'Summer and autumn have become the new spring; you launch in summer, in February, and sell in March,' Mr Reid said. 'Everyone has their head in the sand. Melbourne is the most archaic capital city when it comes to selling real estate.' He warned the city's obsession with auctioning homes at 11am on Saturday was also likely hurting sellers. 'You are putting your auction in the middle of the most productive day for any working family, so they have no time to do anything at the start of the day and then no real time to do anything proper in the afternoon.' That causes friction, which can cause some buyers who might have bid to be forced to choose between that and family events, their children's sporting commitments and their social life. Midweek auctions and those held earlier on Saturdays, at 9.30am, reduced that friction and could suit buyers better. 'We are clinging to a mentality that's stuck in the 90s,' he said. 'This is probably all working out in favour of the buyers, but with an asterisk — because it's still not fully convenient for them. 'We're adding friction to sales and that reduces competition, which the seller doesn't want, but a motivated buyer does.' The auctioneer added that for buyers who were willing to move against the crowd, there were reasons that others avoided midwinter and midsummer. 'In January, everyone has spent all their pennies on Santa, and in July everyone is waiting for their tax return to come through and boost their deposit,' Mr Reid said. He added that by maintaining the status quo, home sellers were effectively playing into the hands of home buyers. Cohen Handler buyer's advocate Nicole Jacobs said while buyers shouldn't pass over the right property in the hopes of timing a purchase, there were definitely times of year that gave them the upper hand. 'Now is a really good time to buy, and six months ago was a really good time, too,' Ms Jacobs said. 'But I wouldn't be waiting to January. You will be getting a few interest rate cuts between now and then.' For those considering selling, the buyer's agent said the core reason for a spring timeline was for homes that had a reason for doing so – which many don't today. 'If you do have a botanic garden in your backyard, you'd be crazy not to sell when it is at its peak,' she said. 'You may think you need to wait for spring, but if you don't have much of a garden, why?' She also noted that home sellers should be aware agents would try to time their sale to suit their calendar, and workflow – and not necessarily work in their best interests. 'If the agent doesn't have a lot of other listings going, they will try to persuade the seller to do so now, rather than wait,' she said. While she said she did traditionally buy a lot of homes in spring, when volumes of homes for sales were typically higher, December was also a good time to 'mop up' a lot of the properties that had struggled in the prior months. But not every suburb struggles at the same time, Eltham is among the 12 Melbourne suburbs that defy the odds and score the best results in July — when 108 others are historically at their lowest level. Jellis Craig Eltham director Tom Kurtschenko said he wasn't overly surprised, having worked solidly through winter for the past 20 years – despite agents in many other areas heading off on holiday when the weather cools. 'We like the winter months … though ideally you wouldn't book an auction on the key weeks of school holidays,' Mr Kurtschenko said. 'And, in spring, there can be a lot more choice for buyers.' He added that at the moment he was seeing a lot of people in the area looking to buy a home before selling, noting that the market would support that approach for many as prices rose. Loan Market broker Jacob Decru said there had been a surge in homebuyers seeking home approval in the past quarter, with large numbers now ready to go — and more on the way. While that could be good news for home sellers thinking about spring, Mr Decru said many of those looking to buy were hoping to make a move in July or August to beat any future rate rises that might drive prices up. 'The sentiment among buyers now is that it's a good time to buy,' he said.
News.com.au
02-07-2025
- Business
- News.com.au
Shock price rise as new apartments plunge 40pc
Units are now outperforming houses for the first time ever in three of the nation's strongest markets, driven by a perfect storm of chronic undersupply and a skewed development pipeline, new research reveals. Perth units are leading the country with 13.1 per cent annual growth for units compared to 11.6 per cent for houses, followed by Adelaide and Brisbane. It comes as new construction completion data shows apartment deliveries have plummeted by more than 40 per cent from their peak, and new analysis shows Australia is set to fall 60,000 homes short of meeting its National Housing Accord target in its first year. According to Ray White research, annual apartment completions have collapsed from over 97,000 in 2018 to just 58,913 in 2023, though 2024 showed a modest recovery to 64,869 units. 'The fundamental issue is that hardly any apartments are being built — particularly in the affordable or mid-market segments that once provided accessible housing options,' Ray White Group chief economist Nerida Conisbee said. 'When new apartment projects do proceed, they're predominantly luxury developments targeting premium buyers, pushing median unit prices steadily upward.' Ms Conisbee said that created a vicious cycle where affordable apartment supply dwindled, intensifying competition for existing stock, driving prices higher, and making units outperform houses — not through abundance, but through scarcity. Apartment prices are growing at a faster rate than houses because the sector is particularly constrained by elevated development costs and land prices that have risen over 75 per cent since 2020. MAS Architecture Studio director Nick Symonds said the demand for high-density housing was high, but the delivery pipeline was struggling to keep pace. 'These aren't townhouses or boutique builds,' Mr Symonds said. 'We're talking about substantial residential projects with hundreds of apartments, and developers can't find a builder willing or able to take them on under current conditions. 'Tier-one contractors have stepped away from major residential developments — not because they lack interest, but because these projects take too long, carry too much risk, and no longer stack up commercially compared to government work.' Ms Conisbee said new apartment projects that did proceed focused on premium segments where margins could absorb the inflated costs, leaving the mainstream market undersupplied. She said the construction industry's inability to deliver affordable apartments was creating artificial scarcity that drove price growth. 'Development sites that once supported diverse apartment projects now struggle to make economic sense except for luxury developments,' she said. 'Construction costs that remain 30 to 40 per cent above pre-pandemic levels, combined with development site prices at record highs, mean that new apartment supply is increasingly concentrated in premium segments where higher sale prices can justify elevated development costs.' Colliers Queensland residential director Brendan Hogan said demand for prestige development opportunities in Brisbane in the lead-up to hosting the 2032 Olympic and Paralympic Games was outpacing supply. 'We're seeing exceptional demand in the premium apartment market, with 'off-the-plan' riverfront apartments achieving prices over $35,000 per square metre of net saleable area,' Mr Hogan said. 'The surge in apartment prices is largely driven by the demand from owner-occupiers who are seeking premium and larger apartment stock, which has accounted for the majority of sales in the market over the past two years.'
