The 10 steps to selling your home in a cooling market

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From knowing your local market to setting a realistic price and bracing for competition, these are the best tips for getting your property on the market.

Chris and Tara Milojevic know the property market is cooling but want to sell before prices fall further, making it even more difficult for them to fund a bigger home for their growing family.

Phoebe Blamey, a director at Clover Financial Solutions, says: “2021 property prices were unrealistic because interest rates were at record lows and COVID-19 was pressuring people who were stuck in their houses to pay more for a bigger place.”Median vendor discounting has increased from about 3 per cent to 4 per cent in the past 12 months, CoreLogic analysis shows.

Cate Bakos, a buyers’ agent, says discounting varies widely between regions and properties, depending on the quality of the property and strength of demand.“High-quality properties that have been fully renovated and that are well located will have competition from buyers,” says Bakos. “But anything with imperfections will be discounted.

 

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