SA property market showing positive signs

There was some good news for those who are looking to list their property for sale in Witbank as the SA property market has seen some promising signals in the second quarter of the year.

The start of 2018 was slow across the market, according to Adrian Goslett, who is the Regional Director and CEO of RE/MAX Southern Africa.

Looking that the run between April and June, Lightstone revealed that there have been just over 38 000 bond registrations, which marked almost a 20% increase on the previous quarter of the year. To simplify that, it meant just over 6100 more registered bonds, which is a significant number.

There were also fewer cancellations of bonds during Q2, with 1916 less than had been done in the period running between January and March.

Although these numbers might seem a little overwhelming if you don’t understand the property market, it all signals that the market is beginning to strengthen.

This was echoed in the fact that there was some growth in the high-end of the market, which typically signifies that there is improvement. Bonds for between R1.5 and R3 million showed growth of 2.5% which was very impressive, while there was also an upswing in the number of transactions over R3 million, climbing from 3.75% to 5% in the second quarter.

When it comes to sectional titles, there was a significant increase in sales too, and this is all summed up perfectly by Goslett, who said: “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.”

So if you are on the fence about entering the market, you may want to make a decision quickly.