Aug 14, 2023 1:39:09 PM

Blue Friday: Australia's biggest ever Auction event

Topics: Auctions, Australia Mortgage Broker, Buying and selling 0

On Friday, 22 September 2023, Harcourts Real Estate will be hosting the nation’s biggest-ever auction event: Blue Friday. The event takes place across various states in Australia and aims to auction 500 properties, all whilst supporting mental health organisation, Beyond Blue. It’s an opportunity for sellers and buyers alike to take advantage of a changing property market. Find out more, register your interest as a seller, and don’t miss this exciting event.


Why sell with Harcourts on Blue Friday?

With Winter nearing an end and Spring just around the corner, Australia’s property market is heating up. It’s widely accepted that Spring is one of the best times to sell property in Australia, as it’s seen as a time of optimism and hope, with more buyers ready to get out and start searching for a new home.

But there are some other reasons why this Spring may be the best time to sell and buy property in Australia:

Interest rates are stabilising

Since the Reserve Bank of Australia (RBA) started lifting the cash rate from an historic low of 0.1 per cent back in May 2022, there have been significant changes to the lending landscape and major shifts in the property market.

However, some economists believe that the Reserve Bank of Australia (RBA) is nearing the end of its interest rate hikes. And while we may see one more 0.25 per cent lift in August or September, stable interest rates are likely to drive mortgage demand with more buyers in the market.

House price growth ahead

Despite higher interest rates, there is growing demand for housing, amidst limited supply. As a result of this increased demand, home values are starting to trend upwards. In the market, we already seeing stronger auction clearance rates, improved results and property buyer sentiment, and more property sales listings coming to market.

Unseasonably low stock levels will turn

Over the past months, there have been an unseasonably low level of available stock on the market, meaning sellers have been on strike giving those actively on the market to buy very little to work with – an injection of new stock on the market will happen in Spring, but no one else will be able to market your property at the scale of this campaign.

Days on market still relatively low

While the number of days on market may be slightly longer than the property boom of 2020 and 2021, it’s still relatively low which is a sign of tight supply for good property – making it a great time to be listing and selling your home.

To register your interest to sell a property at Blue Friday, contact a Harcourts team member.

Supporting Beyond Blue on Blue Friday

For more than 20 years, people in Australia have placed their trust in Beyond Blue as a reliable source of mental health information, support, and hope. As one of Australia’s most well-known, trusted, and visited mental health organisations, Beyond Blue is a big blue door for many in the community: a safe and reliable place for millions of people to access information, advice and support – whether they’re well and want to stay that way, unsettled or struggling and need support, or in recovery and want to reconnect.

In the last 12 months, Beyond Blue has supported more than 250,000 Australians via their phone, web chat and email support service. These statistics are alarming, but together, we can help. When you list your property with Harcourts for auction on Blue Friday, not only will the team at Harcourts work hard to get the best possible outcome for you with the sale of your home, but you’ll also be supporting Beyond Blue.

Get your finances in order

An important factor to consider when buying at auction, is having your mortgage finance pre-approved so you can bid confidently, have a clear budget, and an understanding of the maximum amount you can borrow.

Find out about getting mortgage pre-approval before auction by contacting a Mortgage Express broker today. And get our tips for preparing to buy at auction in this recent blog.

While all care has been taken in the preparation of this publication, no warranty is given as to the accuracy of the information and no responsibility is taken by Finservice Pty Ltd (Mortgage Express) for any errors or omissions. This publication does not constitute personalised financial advice. It may not be relevant to individual circumstances. Nothing in this publication is, or should be taken as, an offer, invitation, or recommendation to buy, sell, or retain any investment in or make any deposit with any person. You should seek professional advice before taking any action in relation to the matters dealt within this publication. A Disclosure Statement is available on request and free of charge.

Finservice Pty Ltd (Mortgage Express) is authorised as a corporate credit representative (Corporate Credit Representative Number 397386) to engage in credit activities on behalf of BLSSA Pty Ltd (Australian Credit Licence number 391237) ACN 123 600 000 | Full member of MFAA | Member of Australian Financial Complaints Authority (AFCA) | Member of Choice Aggregation Services.