Upswing in South African property market

If entering the property market is something that appeals to you at the moment, now would be a good time to look at property for sale on the South Coast. You will be happy to note that South Africa is experiencing some much-needed positive movement in its property market. With places like the South Coast being the perfect holiday destination, there is no time like the present to dip your toes into the property game, before property prices increase yet again.

The Regional Director and CEO of RE/MAX South Africa, Adrian Goslett, says that “the average bond amount granted during this period was R1,072,000, which is a 1.5% increase on the  R1,056,000 of the first quarter for 2018.”

When looking at the performance of properties for sale between April and June of 2018, it was revealed that around 38 000 bonds were registered in total, meaning that there was a 20% increase when comparing to the first quarter of the year. This was a tally of around 6100 more registered bonds. With freehold properties seeing a 49% increase in the second quarter in comparison to the first quarter and sectional titles being sold having a 45% increase, things in the market are looking up.

Although this improvement in the property market was expected by many, it is said that the third quarter will continue to see improvements in the South African property market. There are many reasons why the property market experiences highs and lows; an important factor to consider is the fuel price, as well as the stability of the political situation. We can only hope that these factors continue to remain stable, as it would allow property investors to strike while the iron is hot, before things take a turn for the worse.