Comments on the interest rate

“While the housing market remains on a slow and seemingly steady  path to recovery, on a positive note we are seeing  an increase in first time buyers entering the market, while areas around the country that meet home buyers’ ongoing requirements for access to good schools, business hubs and retail facilities continue to experience a sustained demand. There is also a growing sector of home buyers intent on achieving more balance and quality in their daily lives through a lifestyle change – which generally includes relocation to a different area or region which offers a more secure environment and variety of sport and recreational activities.

“An ongoing trend is that home buyers are prepared to pay a premium to buy into affordable lifestyle estates and gated communities, where available stock tends to be limited at present. Encouragingly, developers are showing an increased appetite to re-enter the marketplace. The top end of the market has also experienced an uptick with Pam Golding Properties regularly achieving sales in the R20 million and even R30 million plus price bracket.

“While noting these positive indicators, there is little doubt that in the current market and economic trading conditions, value for money remains a key driver for prospective home purchasers. In line with this sellers have had to acknowledge the existing economic trading conditions and price their homes realistically and according to current market-related property values. From a buyer perspective the prevailing market conditions continue to present sound buying opportunities for those with access to finance, cash, or a sizeable deposit,” concludes Dr Golding.

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