Property News You Can Use – Presented By Harcourts

With the first quarter of 2022 behind us, we look back with a smile. The year started with a ‘bang’, and the property industry prospered.

Sales were at an all-time high, and the sheer positive energy and interest in the market were just incredible to experience.

The market has undoubtedly quietened down. Contributing factors can be recent increases in the interest rates, and stock levels are at an all-time low.

We can expect an increase in demand for smaller properties, specifically in gated estates or sectional titles, due to the tightening of the belt when it comes to household savings.

South Africa is undoubtedly in a difficult position in terms of our economy. Much needs to be changed for the economy to strengthen.

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The Rand remains volatile, Eskom with continued load shedding, our political instability and continued corruption, the recent floods and disasters all add to our economy that is under so much pressure.

Taking all of this into account, the one certainty we have is to expect further interest rate increases for the remainder of 2022.

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Photo: Joey Nel Photography

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