Rugs, throws and a crackling fireplace — some homes are better sold in winter, and sometimes, it’s down to the styling. Photo: bialasiewicz.
As we head into the cooler months and with more interest rate hikes forecast, experts have shared insights on the best strategies for selling and buying in the Illawarra.
Cotality’s latest showed the national home value index rose 0.3 per cent in April — the slowest pace of growth since January 2025, with Sydney being one of the heavier feet on the brakes (-0.6 per cent over the month).
But while the growth trend is easing in the Illawarra, the region not only well and truly outperformed the big smoke, but also snubbed the national average with a 0.8 per cent rise.
There’s no mystery to it, according to Cotality’s Asia Pacific Head of Research Tim Lawless.
“It reflects the Illawarra’s affordability over markets like Sydney,” he said. “But also, the underlying strength of the internal migrant trend. The Illawarra, like many regional areas, benefits from a positive flow of internal migrants.”
Across the board, growth is increasingly concentrated in lower-priced segments where credit availability plays a key role, along with first-home buyer incentives and investor activity.
This is clear in the Illawarra, where the units market is showing considerably more growth (1.1 per cent) than the house market (0.7 per cent). Even so, the region’s median value for both a house (just shy of $1.18 million) and a unit (just over $815,000) is still well below the $1.5 million cap for the First Home Guarantee.
One Agency real estate agent Andrew Hedley said first-home buyers “no doubt” played a big role in the region’s current resilience, but also its slowing growth.
“I’ve been speaking with a number of first-home buyers, and one reason that growth is slowing is they’ve had significant reductions to their borrowing capacity due to interest rate rises,” he said.
“Banks are being prudent, which is good in terms of not overcommitting, but it does mean some of these buyers have had upwards of $100,000 lopped off.”
Up the cosy factor when selling in the cooler months, and opt for warm tones over cool “coastal” hues. Photo: africaimages.
Despite the hit to market confidence, Tim said zooming out painted not only a nicer picture, but a more accurate one.
“In the Illawarra, both house and unit values are still at record highs, while Sydney is down 1 per cent from its peak,” he said. “And over five years we’ve seen Illawarra dwelling values up 31 per cent.”
Furthermore, there’s good news to be found for both buyers and sellers, if they take a considered approach.
Take auction clearance rates. Nationally, these have held below 55 per cent since the last week of March, with similar performance in the Illawarra — well below the long-term average of 66 per cent.
It’s good news for buyers, Tim said
“That’s indicative of a market where buyers are empowered to negotiate and place downward pressure on prices,” he said.
Andrew, who claims a 100 per cent clearance rate this year suggests it’s about choosing the right properties to go to auction and which ones would fare better with private treaty.
What’s more, the cooler months need not automatically signal a poor performance, just a need for a considered approach.
“I have seen some very hotly contested winters, actually — ones where homes have outperformed those sold in spring and summer,” Andrew said.
If you’re thinking of selling in the cooler months, Andrew advises an objective analysis of your property’s strengths and weaknesses.
“It’s about showing your property’s credentials in the best possible light. How does your property present in winter? If it’s tucked away without sunlight, I’d recommend pausing til spring,” he said.
“On the other hand, a north-facing home can shine in winter. If people can stand in a T-shirt on the deck with the winter sunlight shining down on them, your home might in fact perform better in winter than summer.”
You can also up the cosy factor by laying down rugs, hall runners, cushions and throws, and getting the fireplace going if you have one.
“And if you’ve got a shoes-off policy, and you know the floors get cold, consider letting it slide for inspections,” Andrew said.
“People are tactile; we respond to how we feel. How will they experience your property if they’re walking on freezing cold floors in winter?”
In a period when more affordable markets are performing best, Andrew also warns against overcapitalising.
While the bathroom and kitchen are big selling points in a home, they’re also the most expensive rooms to renovate.
“We usually recommend three things to our clients. The best bang for your buck will come from cosmetic improvements. Think fresh paint, new carpets, polished floorboards,” he said.
“Remove objections like leaks or anything on the building and pest inspection that might give a buyer pause.
“Lastly, the polish, as in how you de-clutter and style, makes a big difference.
“The aim is to spend as little as possible, using ways that will multiply your return.”
