Your home is your biggest asset so it pays to heed good advice when it comes to property matters. Each week the Real Estate Institute of Queensland provides a consumer watch to keep you up to date with all the latest industry trends that could affect you.

Homebuyers have a spring in their step

September 21 | the REIQ

The winter woollies are well and truly packed away across the Sunshine state, with spring-time temperatures here at last.

And while the property market in many parts of Queensland has historically been cooler over the winter months, this year that was certainly not the case.

The continuing health of the Queensland property market reflects the state’s strong economic position.

Many Queensland regions have experienced solid median house price growth over the June quarter this year, with agents across the state reporting strong demand and low levels of stock.

While the coldest months of the year have, in the past, seemed to induce real estate hibernation in most people, there are a number of reasons why the property market heats up once spring hits.

Firstly, more and more people head outdoors during spring and therefore have a greater opportunity to see “For Sale” signs. This gets their thought processes going.

Secondly, warmer weather makes people think more about the location of their property – they may want to be closer to the water for the summer months, or they may want to have a home that is cooler or one that has a pool.

Waterfront areas also tend to be even more in demand during spring, as people chase a change in lifestyle before summer starts.

Once people have made up their minds to buy or sell a property, they generally want to be settled again by Christmas, so spring is the ideal time to start the ball rolling.

There is also an increase in residential property sales activity in spring, because people moving away from their current suburb have to organise schools for their children for the following year and need to know what area they will be living in. Early October is also normally the time of a lot of government transfers.

If you’re thinking of buying, selling or investing in real estate this spring, look for the 2007 REIQ accredited agency logo as a sign of an agency dedicated to the highest standards of business practice.

For a list of REIQ accredited agencies in your local area, visit www.reiq.com.au or phone (07) 3249 7347.