Rising fuel prices are not only affecting every day budgets, but it also impacts on those who are looking at property for sale in Carletonville.
The escalating costs along with increased traffic on the roads around South Africa’s major cities has started making its way into the thinking of those looking for rentals or properties to purchase.
This then snowballs as it impacts the demand for housing in certain areas, which can influence the prices being asked for.
Dr Andrew Golding, chief executive of the Pam Golding Property group, says that fuel prices change the way people work and live. It has also caused employers to rethink their approach to working hours and layouts.
There are a number of solutions being worked on with the improved technology available, and one factor that could make a massive change is the increased popularity of electric cars, according to Dr Golding. He believes that once these vehicles become more viable for South African consumers, it could have a big impact on property buying trends.
Sandra Gordon, who is a senior research analyst at Pam Golding, pointed to stats from FNB and Statistics SA which indicated that fuel prices between 2011 and 2014, along with the rebounding economy coincided with rising house prices. However, from 2015 to 2017 growth slowed due to increased prices of fuel and financial pressure on households.
To the extreme side of solutions, it is no longer far-fetched to even be thinking about how jet suits and personal flying vehicles could further impact the market. Already, there are personal jet pack suits that achieve a few minutes of flight, but costing just under half a million US dollars, this seems a little further off than the other solutions being worked on.
