No time to sit on the fence in property market

If you have been planning on hunting for property in Umhlanga, then your chance to strike while the iron is hot is currently shrinking on a daily basis. When scouring the news articles on the Private Property website, it is clear to note that experts are more excited for 2019.

This comes as a huge plus considering that 2018 brought about a serious low point for the market, with the land reform issue causing immense tension, and the struggling economy seeing budgets destroyed left, right and centre.

However, in a recent post, experts weighed in on what their expectations were for the year, with many having similar predictions. South Africa on a whole may be on a long road to recovery at present, but stability is what is required to spark consumer confidence.

The experts believe that once the elections have been completed, the start of recovery may be on the cards, and due to the fact that the property market is currently in favour of buyers, the opportunity to maximise your return on your investment is slowly slipping away. It is also being said that first-time buyers are best placed to take advantage in the market right now.

Paul Stevens, who is the CEO of Just Property, said, “We are in a buyer’s market and this will continue through most of 2019. Those who qualify for finance or who are able to buy for cash will be in a good position to take advantage of the current conditions. Most of the property sales activity in the past year has been in the R300 000 to R1 500 000 range. During the course of the coming year, I expect this to continue.”