Property For Sale in Marketing
- November 14, 2017
- Real Estate
- No Comments
South Africa’s property market is slowly coming out of the doldrums as buyers start arriving into an industry in more significant amounts – good news for owners with property for sale.
Following almost a year of reduction, First National Bank’s monthly house price index has shown nominal gains in housing costs since November 2009, together with prices rising 3,1 percent in January. Taking into account inflation, however, house price growth in real terms is still in negative territory.
While Absa and Standard Bank have reported a negative increase in nominal rates for houses in January, an upward trend in nominal house prices was evident in the midst of 2009.
Large houses have proven the most durability, while owners who have property available in metropolitan areas is going to do substantially better compared to individuals trying to offload holiday homes in coastal regions, statistics suggest. Browse online websites If you are interested in Sell or rent a property in Singapore.
FNB land strategist John Loos claims the strengthening of this current market is forecast to last until around mid-2010 at least, with the complete impact of last year’s interest rate cuts still to feed through.
Standard Bank forecasts a growth in house prices of between 3 percent and 5% this calendar year, while Absa anticipates nominal house price increase of 6 percent as the gradual recovery of this housing market gains momentum.