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SSC Newspaper : SS July 2013
By Steve Devine Last year I wrote an article for the Strathfield Scene, explaining why spring tends to be the busiest time when it comes to selling property in Strathfield. One of the main factors contributing to this hectic selling time is that in order for the move to have only a minimal impact on them and their families, many buyers and sellers look to make their move in the Christmas holiday period. While from a business perspective agents in the area enjoy the fruits of this frenetic time, owners of properties contemplating selling should also consider what other factors may help fetch the best possible price. As such, I believe one of the most important factors is undoubtedly the old case of supply and demand. I have been monitoring results from sales in the Strathfield area for more than two decades and come to the irrefutable conclusion that properties sold in the colder months generally achieve a better result than comparable properties sold during the traditional spring selling season. Many would ask “Well why is this the case? Surely the gardens don’t look as good; the cold and wet weather isn’t conducive to highlighting the best features of the homes, and buyers can’t be bothered looking in winter.” I’ve heard every reason why selling at this time of the year shouldn’t work, but the proof is in the pudding ... winter sales do work! Let’s examine why the majority of these opinions about the best time to sell are usually more myth than fact. As I said before, the easiest explanation is the simple economic reality of supply versus demand. In winter there are typically far fewer properties on the market than in spring. However, there are just as many buyers looking. There are generally twice as many homes on the market in Strathfield from October to December as there are from July to September. The result is that buyers in winter tend to be more inclined to buy quickly as they have far fewer properties to choose from. In spring, buyers often tend to procrastinate ... generally they feel far less pressure to buy, with other properties to fall back on should they miss their first choice. The moral of the story is that if you’re contemplating a move, consider bringing your plans forward so as to put yourself in the box seat and reap the rewards. Many buyers are open to longer, more flexible settlement conditions that may still work in with your preferred moving time. Act now before the spring selling season is upon us ... remember that while flowers are popping up in spring, so, too, are an abundance of For Sale signs. Beat the rush and cash in on the outstanding sales results that Strathfield property owners are currently enjoying. Strathfield Scene 23 property devinere.com.au STRATHFIELD | CONCORD | DRUMMOYNE MRE THINK DEVINE More Strathfield owners entrust Devine to sell their home than any other agency, and have done since 1955. Thinking of selling your property? Think Devine, call 8080 SELL (8080 7355) to get started. QI’ve never leased out a property before and I wanted to know if I can charge the tenants the entire water bill? You may only pass on water usage charges to the tenant, not the rates and services on the water account. In order to charge the tenants water usage, a water meter reading must be noted at the beginning of the tenancy. The landlord must also comply with the Residential Tenancies Act by ensuring a water efficiency test is carried out at the beginning of the tenancy. The landlord must ensure that there are no leaking taps to the property and that all internal cold taps have a maximum flow rate of 9 litres per minute. Beat the spring rush, sell in winter THE MORAL OF THE STORY IS THAT IF YOU'RE CONTEMPLATING A MOVE, CONSIDER BRINGING YOUR PLANS FORWARD