While recent news headlines might suggest scary property market conditions, teachers have a variegated perspective – seeing huge proprietrix demand and strong results for sellers.

It’s true that rising interest rates and softening property values midpoint those looking to make their next move don’t have the same once-in-a-lifetime opportunities seen during the pandemic.

But what’s the stereotype seller to make of the current climate when deciding whether or not to list this year? Things aren’t quite as gloomy as some in the media make out.

We’ve spoken to some of the top teachers virtually the country to get their take on what’s unquestionably happening on the ground.

Jump to each section:

• What sellers might not know well-nigh the 2023 property market
• 5 tips for selling property in 2023

Nine things buyers might not know well-nigh the 2023 property market

1. This year marks a return to a increasingly sustainable market

Rather than wishing to return to the lofty years of the pandemic and its unsustainable price growth, experts are appreciating a return to reality and increasingly stable market conditions.

Andrew McCann, managing director of Jellis Craig Armadale in Melbourne, said what’s happening at the moment is normal.

“It’s unmistakably come off the lattermost heat of what was a very upturned market post-Covid,” Mr McCann said. “We’re when to a normal rhythm. It’s a much increasingly productive market than what’s stuff written about.”

The first three vendition weekends of the year saw a decent volume of 60 to 90 properties, with a 75% to 82% clearance rate, which is very healthy, he said.

“Prices are really stable, and proprietrix worriedness is strong, which is a good sign. I’d say it’s a glass-half-full market.

“Our proprietrix enquiry is 40% up from a year ago and there’s a shortage of property. Now is a good time to sell because, with little choice, buyers are looking at everything that’s available.”

Will Honey from The Property Collective in Canberra said despite what people are seeing in the media, current conditions reflect a return to stability.

“The Covid market was unprecedented,” Mr Honey said. “It simply wasn’t normal and probably won’t be repeated. Those that think that’ll happen then are crazy.”

Mr Honey said that Canberra has had the smallest price subtract and has stabilised remoter this quarter, which shows conditions aren’t as bad as what’s stuff touted in the media.

“From stats and history, we can tell it’s a market that’s returning to normal. However, people are worried well-nigh [mortgage] serviceability [in the current climate].”

But Mr Honey widow that he’s seen rates of mortgage pre-approvals increasing, so borrowers have wangle to the finance they need to purchase.

2. Demand for homes is mostly higher than it was pre-pandemic

It’s correct to say that demand has dropped in some regions from what it was surpassing the Reserve Bank started raising interest rates in May 2022.

However, recent data shows that buyers are coming out in greater numbers in most areas than they were surpassing the pandemic tattoo began.

3. The reality is variegated to what’s stuff splashed wideness the front pages

Sean Hughes from Realmark said it’d be nonflexible for those who aren’t witnessing demand for properties in person to understand what’s happening.

“If you’re someone who’s only moderately watching the market, you’d pick up the paper and get a very negative take,” Mr Hughes said.

“But it comes lanugo to where you’re looking for your information – are you taking it from the papers or are you getting it from the coalface?”

The market is dramatically undersupplied in many areas, he said.

“Every single wage-earner on our staff is saying they need increasingly stock. If you were to double the value of [current] stock, all of that would be bought in a matter of weeks. There is that value of demand there at the moment.”

For those on the fence well-nigh whether or not to sell this year, Mr Hughes had some advice.

“Don’t take an agent’s word for it – go out and see it for yourself.”

He widow that there are markets within markets, so taking a wholesale view of a major municipality is likely to requite an incomplete picture.

“Gauge the temperature. There are unchangingly anomalies and pockets that whippersnapper the trend. But seeing it in person will requite you confidence. Don’t just believe everything you see on the front page.”

4. Interest rate rises aren’t stopping most people from buying

While the multiple interest rate rises have dampened demand from its staggering peak, there’s still plenty out there looking to buy, Michael Fenn, from Ray White Adelaide said.

“People expected that rates would be going up and they have – we unclose that it’s having an impact,” Mr Fenn said.

“But there’s still a large group of people looking to make their next move and it’s superseding what’s misogynist in the market.

“Those that are considering selling soon must understand that the only thing that dictates the market is proprietrix demand and, while it is as strong as it is, they’d be mad if they didn’t do it next six months.”

Mr Hughes widow that interest rate rises aren’t putting most buyers off – they’re just adjusting their expectations.

“It’s true that borrowing power isn’t what it was but that doesn’t stop someone from buying. There’s still a transaction. The fact that they need a worthier house than what they’re in now just ways they just won’t buy the fully renovated house.”

Mr McCann said that in terms of interest rates, it marks a return to normal levels rather than the historic all-time lows that many got used to.

“It’s a normal rather than a negative environment,” he said.

5. Buyers are under time pressure to purchase

Kon Stathopoulos from McGrath Parramatta said within his market in Sydney’s west, proprietrix enquiry levels are higher than this time last year.

“Due to the low stock levels, buyers are concentrating on what’s misogynist now,” Mr Stathopoulos said.

“They’ve factored in the interest rates rises – it’s not a shock anymore – and money is still relatively cheap.”

He widow that the environment of rising rates unquestionably adds a time-pressure element to proprietrix behaviour.

“Buyers are undeniably enlightened that each time there’s a rise that their borrowing topics is reduced. A year ago, if they could infringe $1 million, it’s now closer to $750,000, so there’s a time factor there. They don’t want to forfeit their approvals considering next time it’ll be less.”

6. A tight rental market has pushed many into ownership sooner

The national rental crunch has been a trigger for those that were on the cusp of ownership to take the plunge.

Because of this, the lower end of the market is moving quite well, Mr Honey said.

“Those selling in the affordable subclass should have a lot of conviction and see this as an opportunity. There’s lots of competition as people still need a place to live.”

Mr McCann widow that the property market is variegated from other investment classes in that it’s a necessity - or, "people need shelter".

"Rental prices are increasing, there's a significant shortage – if you can sire to infringe and buy then ownership is a much largest vehicle than relying on the rental market.

"Investing in property is still a very unscratched bet."

7. Homes that have been properly maintained are selling for a premium

Mr Stathopoulos said that buyers are looking for properties they can move into now.

"Well-presented, well-marketed, styled properties are getting increasingly eyeballs," he said. "It's the turnkey homes that are getting above-market results."

Paul Ryan, senior economist at PropTrack, said that values of properties in Australia are still well up on pre-pandemic levels, so most homeowners will be sitting on considerable equity.

8. Teachers can be surprisingly helpful when it comes to getting a good result

Kevin Dearlove, managing director of Stone Real Estate, said agents' roles have reverted drastically over the past few years.

When it comes to helping a vendor get a good result while moreover minimising stress, teachers now are increasingly helpful than some might think.

Mr Dearlove explained that good teachers regularly squire vendors with home preparation by providing translating and putting them in touch with trusted local tradespeople for anything that might need doing surpassing a property is listed.

"The vast majority of our work is scrutinizingly project management now," he said.

"Sellers need to make sure they rent an wage-earner who can help get a property ready for sale properly. The role has really reverted – we have wangle to a lot of trades, whether it be re-roofing or other things.

"Sellers need to concentrate on executive what they can control. There are no shortcuts in this market. If you go for a full market wayfarers and create competition, you’ll get a unconfined price.

"We're here to relieve stress. If we can help prepare the vendee and take some of that pressure off then the whole process is easier."

9. If you wait for the 'perfect' time to sell, it might not turn out the way you think

While it'd be nice if real manor transactions could be quantified into an easy calculation, the reality is that for most vendors, it's scrutinizingly unchangingly highly personal.

"The reasons for transacting property are often based on very emotional life events such as births, deaths, retirement and changes in employment – many of which are outside of our control," Mr Stathopoulos said.

The weightier time to sell is simply when you're ready, he said.

"They’re life-changing decisions. When speaking to an owner, I often ask them what’s holding them back. If it’s the market, no one will know a perfect time.

"The other factor is that if you’re selling in this market, you’re moreover ownership in this market. So if you sell your home for more, then often you'll need to spend increasingly to get into your next home. It's the arbitrage effect. You sell and buy in the same market."

Many downsizing homeowners held out for the highest price possible during the Covid boom, only to find homes in the zone they wanted to move to had moreover increased in value, he said.

"So, you just never know."

Five tips to get a unconfined result when selling in 2023

While it goes without saying that conditions are variegated from the Covid-fueled tattoo enjoyed by sellers in previous years, vendors are still getting unconfined results right now.

Agents suggest pursuit these tried and tested steps.

1. Get educated well-nigh your local market

Mr McCann said those interested in selling and moving on should do their own research well-nigh their local market rather than ownership into negativity in the media.

"It's important to go in educated well-nigh what similar properties to theirs are selling for," he said.

"Sale prices are still good, but the really strong market has left us, so it’s important to have realistic expectations well-nigh what kind of outcome you might achieve. It's well-nigh stuff prepared, listening to the market, and moving on."

2. Work with the weightier wage-earner you can find

Working with a seasoned wage-earner will help vendors navigate the ups and downs of the selling process, Mr Honey explained.

"Enlist the help of an wage-earner who has worked through variegated market conditions before, the good and the bad, so that you can be unpreventable you're getting the weightier advice."

A good wage-earner will moreover be worldly-wise to requite you recommendations virtually the expectations of current buyers and be worldly-wise to provide practical translating when it comes to preparing the property for sale.

3. Don't skimp on marketing

Getting as many people – from all ends of the market – through your property will requite you every endangerment of getting the weightier result possible, Mr Fenn said.

"Those that are just dipping their toe in or considering selling off-market are risking a lot," he said.

"My strongest translating is to turn up the marketing in the right areas and put the property out to every single potential proprietrix [to] get everyone through you possibly can. Aim to create that competition so you can get the premium price that you deserve.

"If we had flipside 100 listings, we’d sell them all. There's that much demand out there."

4. Remember the nuts well-nigh presenting a home for sale

Don't forget the nuts of getting your home ready for sale, suggested Mr Stathopoulos, including:

• Completing any outstanding maintenance
• De-cluttering
• Having the home styled.

Mr McCann cautioned sellers versus hoping for a windfall without putting in the work of getting a property ready for sale.

"You can’t be greedy if you’re looking to buy and you can’t be lazy if you’re looking to sell."

These are some helpful tips for adding value to your home prior to selling.

5. Get translating surpassing taking on any big renovations

Kitchen or washroom in need of a renovation?

You might be wondering whether it's worth having that washed-up surpassing you go to sell the property, or whether it makes increasingly sense to winnow less for the sale knowing the proprietrix will be factoring in having to pay for that themselves.

Mr Hughes said the weightier person to speak to well-nigh these kinds of issues is an experienced local agent.

"By enlisting the premier wage-earner in your zone they'll be worldly-wise to tell you what is going to drastically impact the selling price. There might be quick fixes that sellers aren't enlightened of.

"In any market, it's imperative to present the home in the weightier possible way. However, trades are expensive and there’s a time factor with that too.

Some trades might take months to well-constructed a job, he explained, so it's important to weigh up that time factor versus the uneaten money you can potentially make.

"If you're going to spend big upgrading the kitchen only to unravel even, then it's not worth it."

But if there are small things a vendor can do that make their home request increasingly to buyers – and therefore get a higher price – then sellers should weigh that up.

"There’s unchangingly a perfect proprietrix that is willing to spend increasingly – sometimes it’s plane circumstance-related, not product-related, such as a short settlement period.

"A layered tideway with marketing will ensure you’re going to reach the most people.

"Take the translating of the professionals – We’re in a strong market but it’s not white hot, mistakes can forfeit you a lot."

The post ‘If we had 100 listings right now, we’d sell them all’: Top teachers reveal realities of the 2023 market appeared first on realestate.com.au.