SA property market gets a positive bump
If you have been browsing property for sale in Hazyview with the intent to enter the market, the news of a strengthening property market in quarter two of 2018 should give you the nudge needed to start making a decision.
Now might be the time to act if you are looking at property for sale in Hazyview. This is according to experts in the industry who are saying that the South African property market has shown some positive signs.
This came as welcome news, as the first quarter of 2018 was fairly slow, and it was coupled with a drop in positive sentiment in the market too. Although the sentiment hasn’t swung just yet, especially due to the past political uncertainty and land reform issue, there was some impressive performance in the market to boost the second quarter.
Adrian Goslett, who is the Regional Director and CEO of RE/MAX Southern Africa, revealed that with the improved performance in the higher end of the market, those considering purchasing should do so before the price adjust to a higher level once again.
Between April and June 2018, there was around 38 000 bond registrations, which marked an increase of around 20% when looking at things quarter-on-quarter. Cancellations were also down at the same time, with just over 1900 fewer cancellations when compared to the first three months of 2018. This all points at positive signs for the market.
One of the most telling signs was the fact that property transactions of R1.5 million and above were up slightly. This sector of the market usually indicates that there is an upward trend in market strength.
“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,” said Goslett.
