Gerhard Kotzé, MD of the RealNet estate agency group, says that while the real estate sector is currently performing very well in spite of the major contraction in the economy this year, it will be difficult to sustain this momentum without the consumer and business confidence that comes from a growing economy in which new jobs are being created.

The raising of the threshold for transfer duty on properties sold for less than R900 000, up from R750 000, as announced in today’s National Budget, is positive news as it provides some relief for first time home buyers, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

The tight conditions in the property market at the moment represent some excellent opportunities for investors with a medium to long-term outlook.

Over the past few years, economic uncertainty and stock market volatility has boosted investor interest in residential rental property.

Young people planning on buying their first home should not get too hung up on interest rates or market cycles, or they might miss out altogether on the advantages of property ownership.

Residential property market predictions in 2013 according to Real Estate professionals Lew Geffen and Jan Davel.