Property market activity remains subdued amid economic challenges
Real estate agents are finding it increasingly problematic to secure listings and qualified buyers.
The property market is experiencing a slowdown, with many sellers holding off on listing their homes because of uncertain economic conditions.
Real estate agents find it increasingly problematic to secure listings and qualified buyers.
Recent statistics from remax.co.za reveal a significant 34% decrease in active listings compared to Q2 2023, while enquiries have also dropped by 18%.
Adrian Goslett, the regional director and CEO of RE/MAX of Southern Africa, remains optimistic that market conditions will improve, anticipating the first interest rate cut in September.
Currently, the highest number of listings is in Gauteng, particularly in suburbs like Alberton, Sandton, Centurion, Roodepoort and Kempton Park.
Goslett also highlighted the ongoing trend of “semigration” from Gauteng to coastal areas, cautioning sellers against overpricing their properties in hopes of affording new homes elsewhere.
For buyers struggling to find homes, he recommends working with real estate professionals who often have access to listings before they are publicly available.
Despite the current market conditions, Goslett emphasises that opportunities still exist for buyers and sellers, encouraging them to collaborate with RE/MAX agents for the best outcomes.
For further real estate advice, visit www.remax.co.za
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