Housing price in South Africa set to remain stable this year

In affordable and luxury housing nominal price growth continued in the first quarter of the year and reports suggest that house prices will continue to be driven by property market conditions and related factors which were affected by a combination of macroeconomic developments, the state of household finances and the level of consumer confidence. Performance of the residential property market at a geographical level is affected by economic trends in general, but these regional markets may react differently to these developments as a result of various area specific factors, such as location, physical infrastructure and the level and extent of economic development and growth. These factors may affect property demand and supply conditions, market activity, buying patterns, transaction volumes and price levels and growth.
Economists and experts are suggesting that with expected rise in interest rates, the South African economy may head for recession. It is therefore imperative that home owners make sure they get a full Comparative Market Analysis (CMA) for their property if they wish to put their house on the market. The CMA prepared by your agent will make sure that the marketing price of their home is correct and ensure a swift sale.

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