When it comes to dealing property for sale in Mokopane, it is important to know what the current sentiment is in the market, and for the second quarter of 2018 things remained a little more negative.
ABSA’s Homeowner Sentiment Index (HSI) measures the current sentiment in the South African residential property market, and uses a sample of consumers to determine how people are feeling about various aspects of the market.
On a national front, there was another 2% drop in sentiment when compared to the first quarter of the year. However, after the large drop in the first quarter when compared to the end of 2018, it was not the best news as it showed that there is still caution across the board.
In terms of positivity, a lot of consumers still feel that owning a property offers them the chance to have a secure asset. Added to this, they are positive that the asset they gain will continue to be worth more in years to come. This means that there is still interest in getting into the market, and buyers still feel that they can find a bargain.
Some of the main factors that added to the negative feel was the current circumstances in South Africa at a political level. The uncertainty earlier in this year caused concern for many consumers when it came to buying or investing in property. The land reform discussion also initially came with a lot of uncertainty, which has not yet eased completely despite the effort put in by government to clear things up.
Going deeper into the report did not add much positivity in any of the sectors, with buying, selling, investing, renovating and buying vs renting all suffering a drop in sentiment when compared quarter on quarter.
This sentiment trend is not expected to change during the remainder of 2018, and it is not helped by the current financial concerns with rising fuel prices and taxes. However, understanding this can help you take the right approach to the market, whether you are buying or selling.
