Q1 PROMISES TO BE ‘EXCEPTIONALLY BUSY’

THE MOMENTUM of South Africa’s property market over the past year will continue into 2022, says Marcél du Toit, chief executive of Leadhome Properties.

This bullish sentiment was reflected in a dramatic decrease in the average number of days taken to sell a home in major centres between 2020 and last year.

“This indicates that, despite headwinds such as load shedding, petrol price increases and entering a cycle of interest rates increases, the property market is in an extremely positive place.”

Although Du Toit says that the average offer value countrywide is around R1.5 million – a slight decrease over the second half of last year – the market is seeing renewed confidence in property as a long-term investment and a vehicle not only to build wealth, but improve well-being.

“South Africans are seeing the value in buying property again. They’re feeling more secure in their jobs and their incomes, and as business has become more sustainable, it has removed the fear factor from investing.

“We’re confident that, despite the fourth wave of the pandemic, the first quarter will be an exceptionally busy period on the property market.”

The average number of days homes are taking to sell has been decreasing in many areas. PICTURE: PXHERE