With the final push towards the end of the Spring market we are still seeing a consistent clearance rate being achieved, although depending on which source you go to it ranges from 55% – 74% and everything in between.

Why do we see such variance in the reported results, simply the data is only as good as the information that is put in, if the agents are manipulating the information that goes in by cancelling, or not reporting auction results then it will be skewed.

With the end of the year nearly upon us I thought we would look a little at the psychology of buying and selling in a market that is drawing to a close.

Both buyers and sellers always seem to realise that the property year is ending to late and the panic to sell or buy starts to set in.

I thought I would share some of the reasons why this happens.

End-of-Year Market Activity: The end of the year is often a period of increased activity in the real estate market, with more buyers looking to make purchases. This can create a more competitive market and potentially lead to higher sale prices.
Personal Reasons: Vendors may have personal reasons for wanting to sell before the end of the year, such as relocating, downsizing, or simply wanting to tie up loose ends.
Market Sentiment: If the market is expected to cool down in the new year, vendors may want to take advantage of the current market conditions and sell while prices are higher.
Rising Prices: Many believe that property prices typically increase over time, especially at the end of the year. This fear of missing out on potential future gains can drive buyers to act quickly.
Limited Inventory: As the year winds down, the number of available properties may decrease, creating a sense of scarcity and urgency.
Year-End Goals: Vendors may be motivated to sell before the year ends to meet personal or financial goals, such as paying off debts or relocating. This can create a more competitive market, pushing buyers to act quickly.
Positive Outlook: A positive market sentiment, with increasing property values and strong economic indicators, can encourage buyers to enter the market and make offers.

Remember there is no point in buying a property just because it is a property that is available.