Is 2021 the right time to sell your Gold Coast home?
Traditionally, spring is the selling season. Buyers emerge after a cooler winter, the grass gets green and the flowers are blooming.
But 2021 is certainly different, with hopefully the worst of Covid-19 behind us, our government pumping all that stimulus money into the economy, and people stuck at home who can’t spend their money on cruises & overseas trips, buyer demand in the Gold Coast has gone through the roof!
Joe Farr from Platinum Properties says he’s constantly being hit with the same questions; “Should I sell now or should I wait if prices are going up?”
“My response simply is that the best time to sell is when there is plenty of buyers, and we really have no idea how long this ‘bull run’ will last”
“Prices may keep rising, but we’re hitting affordability limits with many buyers which could potentially stall further price growth. But who knows. It’s all a bit crazy at the moment”
Joe believes there are certain property types that owners should be selling now to take advantage of the buoyant market.
“I’ve been selling on the Gold Coast for over 15 years. I was here for the boom before the GFC, and I was here in the slow times after”
“When things get slow again, you don’t want to be trying to sell a poor quality property. If your property has any traits that make it a less-than-desirable purchase, then now is the time to sell as you’ll probably still have buyers fighting for it”
So what sort of properties does Joe recommend to sell now?
“After the GFC, some properties were really tough to sell”
“Vacant land was hard to sell as there was plenty of modern, established homes on the market. Prices had dropped so it wasn’t financially viable to build new. That’s changed now, there’s very little land left and cashed-up buyers want shiny & new so vacant blocks, and even old ‘knock down homes’, are in high demand”
“Apartments with high body corporate fees or poor management are very hard to sell when the market is down. With very little stock on the market for buyers to choose from, there is good demand for apartments and townhouse complexes even if there are body corporate issues. If you’re in an apartment in a building you’re not happy with, now is the time to explore your options and find a better building.”
“Main road homes are tough when the market is bad. If there are plenty of homes to choose from, buyers will always opt for homes in quiet areas away from the main roads. But in a hot market, buyers will buy anything, so take advantage and make the move now.”
“And if you’re in Helensvale or Arundel close to the Coomera Connector corridor, it’s likely to get difficult to sell once that project commences. If you’ve thought about getting out of that area, call me!”
If you're considering moving in 2021, give Joe Farr a call at Platinum Properties on 55 007 007 or 0413 949 455 for a chat about your particular property & circumstances. Or get a free market appraisal & find out what your Gold Coast home is really worth in 2021