Optimism in KZN property landscape for 2018
There is renewed confidence in the KwaZulu-Natal property market after recent leadership changes in the government and positive economic changes, meaning that 2018 could be a good year for home owners who are looking to put their property for sale in Durban.
Home owners who are looking to put their property for sale in Durban can hit the market with renewed optimism and confidence this year.
After what seemed to be a never-ending tunnel of doom and gloom, the election of Cyril Ramaphosa earlier this year as ANC President saw the currency take a positive swing, and if the positive economic boost continues throughout the year, there could be a drop in interest rates.
The change in leadership in the country has also made a big difference to business and consumer sentiment, something that will make an impact on the property market as the trust between the private sector and government continues to grow.
The recent holiday season showcased the interest in KZN property being on the rise, with Tim Johnson, Sales Director/Licensee of Seeff Dolphin Coast, reporting a spike in enquiries over the last holiday season – when looking year on year. The enquiries came from people that had wanted to relocate to KZN, and a number of those clients returned in January to complete deals – with 11 properties being sold.
Overall, there was an increase of 9% in property sales in 2017, when compared to the year before, and with developers continuing to bring in new projects, there is likely to be plenty of stock for both buyers and investors going forward.
After such a strong start to 2018, it is a good time to be a home owner in KZN if you are looking to put your property on the market.
