Pam Golding Properties optimistic regarding Residential Property Market In 2013

Posted On Friday, 25 January 2013 09:58 Published by eProp@News
Rate this item
(0 votes)

From a residential property market perspective, the historically low interest rate, which has remained relatively stable in recent years, serves as a confidence booster for home buyers, particularly those with mortgage bonds and who continue to feel the impact of rising energy, fuel and food costs.

Andrew GoldingComments Dr Andrew Golding, CE of the Pam Golding Property group: “General market sentiment at the start of 2013 has improved, translating into an air of increased confidence in the residential property market - which in turn is generating increasing enquiries from mainly serious buyers. For the calendar year to date (January 2013) Pam Golding Properties (PGP) has experienced a noticeable increase in website enquiries compared with the same period last year, which is a further indicator of increased activity in the market, particularly as the first few weeks of January 2012 saw an exceptionally high rate of website enquiries.

“While consumers remain faced with cost pressures, the sustained low interest rates are certainly a factor in assisting both buyers and sellers adjust to the ‘new normal’ trading conditions in the property marketplace. As a result we are seeing a regularising in the marketplace, with more and more sellers being those who are doing so for reasons other than financial constraints - in other words normal movement or activity. In regard to buyers, those with cash or high equity are seeking and still in a favourable position to take up good buying opportunities which are available in a variety of locations and offer sound investment potential over the medium to longer term.

“Encouragingly we are seeing more and more first time buyers enter the marketplace, while developers continue to demonstrate growing confidence in launching new developments to cater for a pent-up demand for new-build units in good locations and at market-related prices. There also appears to be indications of increased interest from buy-to-let investors, and looking further afield we are also seeing rising interest from buyers from Africa and other international markets.

“The first quarter of the year is also a time when historically people may be relocating for a variety of reasons, including work or family requirements such as educational facilities, a change in lifestyle, upsizing to a larger home or downsizing as adult children have left the family home. From a price perspective the main interest experienced by Pam Golding Properties is in the price range up to around R6 million or R7 million, although sales upwards of R10 million are also being achieved. All in all Pam Golding Properties’ outlook for the year ahead is positive and we are optimistic,” concludes Dr Golding.

Last modified on Thursday, 13 March 2014 10:34

Most Popular

Should you rent or buy your business premises?

Jun 23, 2022
Malusi Mthuli_FNB
This is a question that most business owners will face at some point in their journey.…

April 2022 Hotel Accommodation Income Statistics continue to show a very weak picture compared to pre-lockdown times.

Jun 23, 2022
Hotels Monthly Income 2022
The StatsSA release of April 2022 preliminary monthly tourism statistics show the Hotel…

South Africa’s inflation exceptionalism: can it last?

Jun 23, 2022
Carmen Nel
South Africa is often seen as a high-beta play, be it regarding financial market risk…

Hyprop continues to reduce debt and reposition its portfolios in SA and EE

Jun 30, 2022
Skopje City Mall Playground
Hyprop, which manages dominant retail centres in mixed-use precincts in key economic…

Vaal Mall rolls up its sleeves for pothole repairs

Jun 30, 2022
Vaal Mall crew busy repairing the various potholes making easier access to the Centre.
Vaal Mall is showing their commitment towards their community by stepping up to repair…

Please publish modules in offcanvas position.