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

Tshwane Regional Mall Grand Opening date set

Aug 31, 2019
  TSHWANE REGIONAL  MALL
24th October 2019, the long-awaited day earmarked for the grand opening of Tshwane…

Attacq Ltd and Tricolt break ground on Ellipse Waterfall

Aug 30, 2019
 13 2
Today Attacq Ltd the JSE listed REIT developing Waterfall City, and Waterfall Logistics…

Redefine Properties appoints Daisy Naidoo as independent non-executive director

Aug 30, 2019
 STRATE 1
Redefine Properties appoints Daisy Naidoo as independent non-executive director.

Founder Marc Wainer retires from Redefine Properties

Aug 31, 2019
 MARC WAINER
JSE listed diversified real estate investment trust Redefine Properties today announced…

Eris Property Group appoints successive CEO Barend de Loor

Aug 30, 2019
 BAREND DE LOOR
Eris Property Group has appointed a new Chief Executive Officer (CEO). Barend de Loor…

Please publish modules in offcanvas position.