No post lockdown blues for booming North Coast property market

During the latter weeks of March to the start of June, there was not too much to be positive about if you worked in the property sector in South Africa. 

The smart agents kept themselves busy by keeping in touch with their clients, enrolling in online training programmes, improving their social media presence and getting on top of the tasks that they often found little time for.

However being unable to meet with clients face to face was concerning. 

But since June 1 the property market has bounced back, and, with more gusto than any commentator would have ever thought possible.

Not surprisingly, the agents that kept themselves sharp during the hard lockdown were the ones who benefited the most.

Here at Seeff North Coast we have had three record months in the last five and some incredible individual performances.

This however is no great surprise to those who have worked in the market during this period.

We have seen a surge in activity and an appetite to own and invest into a property.

At the same time, many current owners have reassessed their circumstances and have decided to relocate or either upsize or downsize.

The question as always is, ‘will this momentum continue?’

The feeling is that it will.

Looking at verified statistics, the number of registrations of new buyers in October is significantly higher than the same month in previous years.

This activity is spurred on by record low interest rates, a desire for more space, the ability to now work remotely, and that lockdown has made many people re-evaluate where they want to truly live.

The net result has been choosing to invest in property, which is often the case after a crisis. 

With stock levels starting to drop, and prices starting to rise in certain sectors, albeit at a sustainable level, this momentum is likely to continue for the foreseeable future.