Not all doom and gloom in property market
Rising petrol prices, the technical recession and a number of other factors could have you concerned about looking at property for sale in Heidelberg. However, experts have indicated that there are some positives to look at in the housing market.
It may be hard to consider property for sale in Heidelberg when looking at the current state of affairs in South Africa. There are so many concerning and negative factors floating around, that people are tense about entering any long-term commitments.
This follows the fact that the country just entered a technical recession, which is the result of the economy suffering a major knock by showcasing two consecutive quarters of negative growth. This problem was enhanced by the fact that oil prices continued to soar, while the Rand has been taking a bit of a dive. Added to this, there are global issues, such as the threat of a potential trade war.
This may all seem a little overwhelming, but experts in the housing market say that there are still many positives to look at. Dr Andrew Golding, the chief executive for the Pam Golding Property Group, says that nothing is expected to change the current outlook for the remainder of the year, and even though growth is predicted in 2019, it won’t instantly enhance the property market.
However, there is still a strong desire, especially among the younger consumer, to invest into property. The financial sector has also not been shy to extend mortgages, which is a positive sign for the market on a whole.
Right now, the location of property could have a major bearing on the success of the market in a specific area. To dive into this further, he added, “There will still be areas that continue to outperform – areas that are fulfilling a particular demand. Examples which come to mind are suburbs which offer an alternative to congestion, a flourishing business hub and easy access to good schools, for example Claremont in Cape Town or Durban North and Umhlanga in KwaZulu-Natal. Or areas which offer access to good schools and work, but better value-for-money property.”
There were also positive signs in the provinces of Gauteng and KwaZulu-Natal, with the former being the strongest performer in the country. These markets have shown signs of rebounding since the middle of last year, and the East Rand in particular was the highlighted area when it came to growth.
