True stories: youth buying properties and agents’ missed opportunities
Young buyers are entering the market but find dealing with agents disappointing. Don’t miss out on a sale—know what these buyers want and need.
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Young buyers are entering the market but find dealing with agents disappointing. Don’t miss out on a sale—know what these buyers want and need.
Four years on from the first lockdown, where and why we buy, and what we want from a home have changed. Bradd Bendall, CEO (interim) of BetterBond, takes a look at what the new normal might mean for the South African property market.
South Africa’s tough economic conditions are mirrored in the country’s Affordable residential property, where value has risen over the past few years but volumes have dropped. Today approximately 2.8 million are formally registered “Affordable” in SA.
The number of homeowners selling their properties within two years of purchase has jumped. This suggests that many buyers took advantage of the low-interest rates as the market provided relief during Covid, only to find they could not afford mortgage repayments as interest rates normalised.
More than 1.6 million women have benefited from government housing subsidies since the mid-nineties when the scheme was first implemented. Find out where these women live, what they’ve done with their properties, and which housing programmes are available.
While the repo rate is stable, for now, it is unlikely to decrease until 2024, the local economy remains under pressure, especially from continued loadshedding, experts weigh in about what’s in store for the property market in the next few months.
There are many challenges facing the PPRA and its implementation of the Property Practitioners Act, promulgated earlier this year.
There are various value bands within the South African real estate market, each of which have their own set of trends that might not reflect the national averages.
Following a season of unprecedented sales volumes, activity within the South African housing market has begun to subside, most likely because of the interest rate hiking cycle that started in November last year.
Property practitioners should sit up and stake cognisance of a new trend in the property market where young homeowners are leading an exit of the market.