2022 is underway, and current homeowners are already seeing how much property prices in the Inner West have increased. There's no better time than now to sell your home to see these gains, but what can you do if you're looking to get ahead of the market?
Here at Richardson & Wrench, our agents understand that buying a home is one of the most important decisions you will make in your lifetime. So just like with any significant milestone, you want to feel confident in your decision making process.
As the current property market has seen mortgage loan rules tighten and Sydneysiders look for bigger properties in lockdown during the past 12 months, it can seem difficult to predict precisely where prices may go. That makes taking advantage of our current market conditions - low-interest rates and fewer buyers than ever before - all the more critical.
Sell Your House this Autumn!
Come autumn, many people have taken extended time off over Christmas. Buyers have had time to make important decisions, to plan, research the market, most people are back at work, kids are in their school routine and those who have made a new year’s resolution to buy a new home are ready to house hunt.
They know what they want and they feel confident about their buying decisions. The more frenzied selling periods can bring time-wasters and buyers less ready to commit.
It is important to note that with the right strategy, any season can be a good time to sell. This is something our agents who are suburb experts can assist with.
Inner West House Price Guide
If you haven't already done so, now is a great time to do some research on property prices in the Inner West. Here are the most up-to-date stats on the market in the Inner West.
The median house price across all Sydney regions, bar the eastern suburbs, has hit record highs with a quarterly jump seen by the inner west where it climbed 9.7% to $2 million over last year's figure, which was already high at this time frame according to six areas that saw prices go up more than 500k annually.
Inner West Median House Price: $2,300,000
Yearly change: 9.4%
Annual change: 27.8%
Inner West Median Unit Price: $820,000
Quarterly change: 1.2%
Yearly change: 9.3%
This shows that the time to buy is now and selling your home in summer can make you stand out against other buyers.
Where to Start?
This is the time of year to get ahead of the market, so if you're looking to sell your house in 2022, you must have a specific idea about a few things.
- Stay up to date - Familiarise yourself with the current property market in the Inner West and surrounding areas, and be ready to act quickly when the time comes. Research what the other houses within your street are selling for, and how quickly they’re sold so you have an idea on what to expect.
- Find a qualified agent - If you're looking to sell your property, you need a real estate professional on your side. Our qualified agents have over 50 years of real estate success, and know the local Inner West property market and area inside out -helping you to determine the best possible price for your property, and advertise effectively to the right buyers.
- Prepare your home - It's essential to make your property as attractive for buyers as possible. If you're looking to sell in Summer, it makes sense to do any renovations that may help the property's exterior stand out, as well as any maintenance indoors. Whether it’s a fresh coat of paint or cleaning the outdoor tiles and garden, refreshing your home’s aesthetic is key to selling with confidence.
- Find a legal professional - When you're trying to sell your home as quickly as possible, the contract must be as straightforward as possible. For this process to go smoothly, we would recommend that you have a legal professional involved from the start. If you do not know a good lawyer, feel free to ask your agent to recommend one.
- Acquire a market appraisal - You need to have an accurate estimate of what your house is worth so that you can work out precisely what you're willing to accept to time the sale right. As Inner West Real Estate experts, our clients know to expect the most trustworthy and honest advice from our team. When we appraise your home, you can be certain that any market estimate you receive will be based on our most up-to-date knowledge of comparable properties in your suburb.
We’ve been at the forefront of Inner West Real Estate for decades. When selling with us, it’s the collaborative efforts of our experienced team, that will win you a dream outcome for your home. If you need any further guidance, feel free to contact us at Richardson & Wrench to discuss what you plan to do with your property. We are always here to help!