PROPERTY

Understanding the best time to sell your property

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Whether it's shares or property, timing an asset sale to achieve the best price possible is often a challenging assignment.

Also real estate isn't like the sharemarket, where it's possible to sell a few stocks here and buy a few stocks there to take advantage of short-term price movements. Rather, the vast majority of people sell their homes because they have no choice.

It may be that a new bub has triggered the need for a larger home, or the last of the tribe has moved out and the homeowner is now lording over an empty nest that is simply too big to maintain.

When to sell property

Alternatively, a property sale may be activated by a family break-up, a marriage or an interstate or overseas job transfer.

Or it's been prompted by a lifestyle choice to move from the city to the coast or the bush. A move to an aged care facility or a death can also spark a property sale.

Once a decision to sell a property is taken, maximising the sale price is vital and often involves recognising prevailing market forces.

For instance, with the premium end of the market (above $10 million), the falling Australian dollar is initiating some big sales.

A lower $A makes local prestige properties more financially appealing to cashed-up international buyers and Australian expats.

Homeowners in popular coastal holiday haunts are also now enjoying the green shoots of a post-GFC recovery. Whether you're a local in a holiday town, or someone who's lucky enough to own a holiday home, if you've been considering selling, now could be a good time to make a move.

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Angus Raine is executive chairman of Raine & Horne.
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