Newcastle September 2018

The month in review: Newcastle

By Herron Todd White
September 2018

It’s spring and the temperature is rising. The Knights have missed September action again, although there was definite improvement and a belief next year will be different. The Jets are just starting their campaign to go one better than last year and Merewether Beach is seeing more than just the surfers and hard core swimmers who visit during the winter months.

But what about the property market?

Traditionally people believe that spring is the best time to sell as gardens are looking greener and days are longer, but being in Australia the winter months still see plenty of sunlight so while the Spring Selling Season perception is there, it’s not necessarily reality.

However like a lot of things, perception is important and spring is certainly a time when we begin to see a rise in listings in the region, So it’s a buyer’s market with more stock and that means more choice.

It is no secret however that over the past few years the Newcastle market has been running hot and it has not really mattered what month or season properties have been listed as the high demand has meant that properties have generally not stayed on the market for long.

Newcastle property

So with the traditional perception of spring being the time to sell correlating with a strong market over the past few years, the months of spring have generally been the strongest for sales activity and then drop away over the Christmas period which is nearly always quiet in the Newcastle area.

However the market seems to be slowing as the above graph would indicate so this spring the traditional high supply may not be matched by the high demand of recent years, meaning we could possibly end up with a glut of property on the market.

Share

DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.