Property expected to remain active this festive season and beyond
Category Market Update
Following what was initially thought to be a level of pent up demand driving buyer activity, five months later, it is now evident that the low interest rate and positive mortgage lending climate is having a sustained positive impact on the market.
The Southern Suburbs and Constantiaberg area in particular have been an absolute star performer in the Cape Peninsula and while the very top end of the price spectrum remains restrained for a variety of economic reasons, the rest of the market continues at pace.
Much of the demand is driven by first-time buyers able to secure home loans, but we are also seeing other buyers also using this favourable market phase to improve their own lifestyle outlook with a new or bigger home and even a change of neighbourhood, or to move closer to schools or amenities.
Where we had approached the end of last year with a degree of caution, it seems that buyers will continue prioritising property acquisitions this festive season and into the first half of 2021. This is great news for the sellers, but realistic pricing remains an important part of a sound sales strategy as buyers continue dictating the pace in the market.
If you are thinking of selling, now is a great time to get into the market. With so much economic uncertainty there is little time to waste, so be sure to contact us to get your home into the system as quickly as possible.
Home is our Story, and property our passion. Whether you are actively thinking of selling or would like to know what your property might fetch in this market, please do not hesitate to contact us today!
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Author: Gina Meintjes
