South African property market gets a boost

The property market had a dismal start to 2018, but fortunately the second quarter is looking better and it could signal a good time for you to consider looking for property for sale in Potchefstroom.

Cities like Potchefstroom, which are situated an hour outside of Johannesburg, will make for a sound investment, due to it being an academic city, you will be sure to always have a tenant for your property if you are purchasing with the intention to rent your property out.

It has been recorded that the difference between the amount of properties that were purchased in the second quarter is significantly higher to that of the first quarter. With the second quarter experiencing a 49% increase in the number of freehold properties sold to that of the first quarter and a 45% increase in the number of sectional titles sold. It is not surprising that homes being sold for R400 000 and less still make up the majority of properties being sold, making up a total of 39% overall.

There are various factors that affect the property market, with fuel prices being one of them. Another factor is the political climate, and if this stabilises then we should continue to see a growth in the third quarter.

If you are looking to enter the property market then now might be a good time to start, while the market is beginning to strengthen and before prices increase once again. Some of the most searched areas on the RE/MAX website include, amongst others, Gauteng and the Western Cape, with the suburb of Bryanston taking the lead with a total number of 2,111 searches.