Only recently having come out of a technical rescission, 2019 is set to become a really interesting year for the South African property market. With our fuel prices being lowered, it seems as if we are on to a better start than the way in which we ended 2018.
With many saying that property prices are not set to grow while the 2019 elections run, we believe that this is the perfect time for the seller and not the buyer.
But, nevertheless, for those looking into joining the property market in 2019, there are still a few key elements to consider.
Looking back at the market of 2018, the best advice we can give you is the sooner a buyer can get into the property market, the better.
In 2018, we saw a lot of the market shift into the favour of the middle-class citizen instead of the lower class, and we fully expect to see this trend flow into 2019, which will make it much harder to find homes at lower income price brackets.
The best possible strategy for first-time buyers would be to buy during the first half of this year while the market still leans in their favour. Another great tip for first time buyers would be to research their potential home instead of just researching the price of that house, that way it will be easier to negotiate, and bargain based on the history you know, and not just on what the house is being marketed at. This can also help you gain a competitive edge when making your offer.
Since the property market is likely to be off to a slower start in the first half of the year, it is likely that sellers will be more open to negotiations than if we were in a more thriving market, which we might well enter towards the end of the year if things continue to go favourably for our country,
Much the same can be said for renters as for buyers – do not rush into any decisions before researching the market.
Our final thoughts would be that buyers and renters alike work through a trusted real estate professional to make sure they receive reliable advice on how best to navigate whichever market conditions they find themselves in when they decide to start their search.
Always remember to B-Sure that you are using a trusted agent. Contact us. BSP – Welcome Home.