When should your new campaign start in 2023?
- November 24, 2022
When’s the best time for your property to hit the market in 2023? As we approach the end of the year, it’s a common conversation that curious potential sellers want to explore. Like most things, when selling your property there are trends that can be analysed but it’s always individual strategies and structure that are vital, and that’s where we come into our own.
Many agents get jumpy and want to start bringing property onto the market around January 10, but is this for the benefit of the client, or is it an agent wanting to get a jump start on their competition? This question needs to be deeply reviewed, discussed and considered. There are examples of properties that have successfully launched particularly early in the year but more broadly, a late January to early February campaign start will be more beneficial for clients. We have one final RBA meeting in December before they take a break in January, so at least the interest rate environment through January will be stable.
We’re seeing serious and genuine fatigue in the market this year and we’re yet to meet anyone who hasn’t said they’re tired and require a break. Therefore, as we move into a quiet period for the market, it may be beneficial to allow people to have that time off and start your selling process later in January. This way, it’s likely you’ll be the beneficiary of a mood uplift and better clarity of thinking from the buyer pool.
We’re still working our way through a changing market cycle, so we don’t know how the market will evolve into the new year. The hope is that we can hit the reset button and improve market confidence, however, we also need to be wary about how the final few weeks of December play out. We’re already seeing a lot of price adjustments unfolding across every market and from every agency, so if this exacerbates through December, in our view it would be unwise to target a very early January campaign. Instead, it would be more prudent to come to market when there is a marginal improvement in volumes and thereby piqued interest from buyers.
Quite often if the market finishes flat in the preceding year, it will take some time to gather momentum as buyers want to see what transpires before they make a commitment to purchase. So, all eyes turn to the December market to see how we close out the year, which could very well determine how we approach early campaigns in 2023.
We’ll keep you across it.
