Latest news with #BiancaDenham
News.com.au
26-05-2025
- Business
- News.com.au
Australian real estate: should I sell my home in winter 2025
While many sellers wait until spring to put their property on the market, there are benefits to selling in winter – just as long as you keep a few seasonal considerations in mind. PROS AND CONS OF A WINTER SALE It seems to be a general consensus among sellers that winter is not an ideal time to sell property. Data from Ray White shows that on average, Australia experiences a 7 per cent drop in property listings between May and June each year, based on market – wide records studied from 2022 to early 2025. While there are a few warm climate areas that buck this trend (Darwin, Brisbane and Regional Queensland), the majority of capital cities and regional areas see a marked decrease in listings (-2 per cent nationally) during winter. However, Ray White head of performance and recognition Bianca Denham says less listings means less competition for those who do decide to sell during the colder months. 'If I was selling a property, I'd rather sell my home when there's fewer other properties similar to mine because it gives buyers less choice,' she says. 'Potentially it might give me a favourable pricing outcome because there's less options.' And while there may be less sellers during winter, there are always buyers to be found no matter what season it is. 'People don't buy because the daffodils are out,' she says. 'They buy because they got a promotion, they finished saving, they're having a baby – all these other life events.' Another benefit to selling in winter is that it enables you to showcase how cosy your home is, especially if you have a fireplace, says McGrath Hunters Hill director Tracey Dixon. 'Some of my properties over the years have lent themselves to that kind of environment,' she says. However, the weather may not be on your side and gardens may not be looking their best, says Denham. 'If the weather is terrible you'll have to contend with things like mud,' she says. 'But one thing I know is if someone wants to buy a home they'll be there – rain, hail or shine.' THINGS TO CONSIDER Before listing in winter, make sure you think about the demographic of buyers and the type of property you are selling, Dixon says. 'People need to consider the unique nature of their property and what the benefits are for the potential purchasers,' she says. 'Aspect is also a consideration. If you have a waterfront home that is south facing that's going to be cold and windier in winter then it certainly wouldn't be the ideal time to be selling.' If you do list in winter, it's best to go above and beyond to make it warm and inviting. 'People need to think about their heating systems, how they're going to make their properties light and bright even though it might be less sunny,' Dixon says. Denham says it's important to give the garden a once over and freshen up the lawn. 'Make some considerations for people coming through. If the weather is going to be wet, it's going to be muddy – put extra door mats out,' she says. WINTER FORECAST Denham says she expects this winter to 'kick along quite nicely' now that the Federal election is over and more interest rate cuts seem likely. 'We've got stability of government, a strong focus on housing and affordability of housing – I think that's only going to provide confidence to the market,' she says. Based on her conversations with other agents across the country, Dixon says she expects to see strong activity from investors over the winter months. 'From what we're seeing across the board, people are getting back into looking at real estate as one of Australia's greatest investment opportunities,' she says. 'I think that's going to really fuel the months between June, July, August this year. 'I think a lot of people are thinking they might get into the market before the market takes off again next time and that could be as early as later this year or it could be maybe 2026. 'I think all eyes are back on property throughout the country now. Everyone thinks this is the place to invest their money for the future.'
News.com.au
13-05-2025
- Business
- News.com.au
How much it costs to sell a home in Australia
As the old adage goes, you have to spend money to make money – and in the world of real estate, this certainly rings true. But just how much will you really be up for when you put your home on the market? AGENT, MARKETING AND LEGAL Ray White head of Performance and Recognition Bianca Denham says there are essentially three main costs when it comes to selling a home: the agent's commission, marketing costs and legal costs. In Australia and New Zealand, real estate agents generally set their sales commission within the range of about 2-3.5 per cent, she says, though this can sometimes vary. 'If I was selling a house for $1 million based on those numbers that would be somewhere between $20,000-$35,000,' she says. Considered a 'success fee', the commission doesn't get paid until the house is sold. Marketing fees, on the other hand, are usually required to be paid upfront, she says. 'The marketing fee is an area for vendors to be wary of,' she adds. 'Stay far away': Worst place to put your money While some agencies offer to cover the cost of marketing, Denham cautions against this, explaining vendors might not get the best service under such an arrangement. Marketing is usually provided by a third party, the cost of which is usually itemised and passed on to the vendor. By doing this, the vendor can see the value they have paid for. 'The price of the marketing is very area dependent because the portals will be priced on a click per view type of model,' she says. 'If it's a very heavily searched suburb, the portal price will be more expensive than a suburb that doesn't have many clicks.' 'Generally the ranges around Australia and New Zealand will be from anywhere as low as maybe a couple of thousand dollars through to possibly $10-$15,000 or $20,000, depending on the property.' Legal fees can be anywhere from $2000-$5000 depending on state-based requirements, she says. EXTRA COSTS TO CONSIDER Another expense that many sellers don't think about is the cost of prepping their home for sale, says founder and managing director of Horwood Nolan Ben Horwood. 'The big one that most people spend the majority of their money on would be prep,' he says. In Sydney's inner west where he sells homes in the $3-4m range, vendors generally spend about $30,000-$50,000 getting their homes prepared for sale, doing things such as house washing, painting, window furnishing, floor covering and landscaping. 'Paint, landscaping and styling would be the top three that would make the most difference,' he says. 'It can be 10-20 per cent of the value of the property.' Director and principal stylist of Vault interiors Justine Wilson says the cost of staging a home can vary greatly across companies but is also dependent on the size of the home and style of the property. The average partial style usually costs between $4000 and $8000 for a small home, which is a similar price to a full style, she says. 'A partial style isn't necessarily always the cheaper option,' she says. 'Quite often we're quoting on removing and storing some of the owner's items or the vendor may be looking at their own removal and storage facility, so they're effectively paying double handling. Logistically there's more labour and time.' VALUE FOR MONEY To get the best value for money, it's important to choose your selling agent wisely, says Horwood. 'The number one thing you should be spending your money on is choosing a quality agent that's going to give you good advice around what to spend money on and what not to spend money on,' he says. In fact, by going with a low cost agent who promises a high price, it could cost you more. 'A lot of the time that can lead to extended times on the market because the property is priced too high and not prepared effectively and then it usually ends up costing them a lot more than the difference in the fees for an agent that's going to give them quality advice and get it right the first time,' he said. 'It's a very, very, very expensive mistake to make.'
