Good news for property market in Q2

It can be daunting trying to figure out when would be the best time to enter the property market at present, butaccording to experts you should consider starting your search for property for sale in Mpumalanga now, after some good news regarding the property market recently.

In the second quarter of the year, there were a number of positive signs that indicated there would be a strengthening market in the coming months, which was welcome news after a fairly slow start to the year.

The market took a bit of a knock in the first few months as people came to terms with the political uncertainty as well as the emergence of the land reform issue. There was work to clear up those matters quickly but time was still needed for recovery.

Adrian Goslett, who is the Regional Director and CEO of RE/MAX Southern Africa, touched on some of the data that came from Lightstone, and revealed that as had been predicted, there was positive movement in important areas of the market.

This data included the fact that there had been 38 000 bond registrations between April and June. This was a large jump when considered to the first three months of the year, totalling to around 20%. He also touched on cancellations when comparing the two quarters and mentioned that there were around 1900 less in Q2.

When it comes to recovery in the market, one of the first areas to feel a difference is the higher end of the market. And the evidence here was clear, with an increase of over 2% on transactions for properties worth over R1.5 million, while even properties worth over R3 million saw an increase in transactions.

Discussing the outlook going forward, he added, “As predicted, the second quarter of 2018 has proven to show signs of a strengthening market. Provided fuel price hikes settle into more sustainable territory, and our political climate remains stable, we predict steady growth to continue into the third quarter of this year.”