Best months to buy and sell
Recent research from a team of economic and finance boffins from Griffith, Monash and Swinburne universities has revealed the best months to buy or sell property.
After analysing 20 years’ worth of figures, the trio found seasonal variations in capital city sales prices can be staggering – up to 13 per cent between the highest and lowest price months.
Co-authored by Abbas Valadkhani (economics professor at Swinburne), Russell Smyth (economics professor at Monash) and Andrew Worthington (finance professor at Griffith), the research has been published by Monash Business School.
The researchers contend the patterns are strong enough to predict buying and selling seasonal patterns.
Best times to buy
- Adelaide – July (houses); June (units)
- Brisbane – May (houses and units)
- Canberra – October (houses); November (units)
- Darwin – June (houses); September (units)
- Hobart – September (houses); October (units)
- Melbourne – May (houses and units)
- Perth – February (houses and units)
- Sydney – June (houses); December (units)
Best times to sell
- Adelaide – April (houses); September (units)
- Brisbane – January (houses); November (units)
- Canberra – March (houses); February (units)
- Darwin – March (houses); August (units)
- Hobart – January (houses); February (units)
- Melbourne – July (houses and units)
- Perth – December (houses); March (units)
- Sydney – July (houses); June (units)
Seasonal variations are not an Australian phenomenon – studies in the UK show variations of more than six per cent between highest and lowest months and seven per cent in the US.