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Adelaide prices never really fell!

Four things to know for this 2022 spring selling season

By Rishabh Dhall

By Rishabh Dhall

7th October, 2022

As per the report from CoreLogic, spring 2022 is expected to hit a little differently, we’ve compiled four key trends for you to be across this spring selling season.

It won’t be the spring selling season we experienced last year.

There is no denying that Market conditions are very different. Buyer appetite is falling against higher interest rates, and properties are taking longer to sell, but keep this in mind, whatever the condition of the market will be, there always be sellers who want to sell and always be buyers, who want to buy, it just right now, the frequency of both sides is low.

New listings and auction will rise in the coming weeks.

Despite we have been experiencing new listings counts still lower, some data points indicate a lift is on its way in the next few weeks. We have seen a new confidence in sellers to get their property right in the market with a little rise in buyers’ activity as well.

Long term owner – occupiers are more likely to sell.

Recent buyers are at more risk of making a nominal loss if they sell during this turnaround. Meanwhile, even if the market is going through a short term, those who have held their property over the period of 5 – 10 years are more likely to make nominal gains, We have seen an increase in those as well.

Sellers will have to tweak their strategy & listen to buyers feedbacks and be flexible on their approach.

Serious vendors will need to be realistic about their price expectations backed up by quality marketing campaign and excellent negotiation by agent. As the cash rate is expected to rise further in the coming months, borrowers may become more constrained.