Shorter sum­mer hol­i­day will boost mar­ket

Weekend Argus (Saturday Edition) - - PROPERTY -

THE SHORTER sum­mer hol­i­day that schools will have this year in re­turn for a longer win­ter hol­i­day to ac­com­mo­date the World Cup will be very ben­e­fi­cial for res­i­den­tial prop­erty, says An­ton du Plessis, chief ex­ec­u­tive of Vine­yard Es­tates.

Most Cape schools will be re­turn­ing to their class­rooms by Jan­uary 13, a good deal ear­lier than usual.

Tra­di­tion­ally, says Du Plessis, po­ten­tial Cape buy­ers go into hol­i­day mode and adopt a hol­i­day mind­set from the time the school hol­i­days kick off in De­cem­ber.

In re­cent years, this break-from-busi­ness pe­riod has been ex­tended to the point where real prop­erty ac­tiv­ity is not seen un­til about Jan­uary 20.

Now, with the sum­mer hol­i­day cut by three weeks, Du Plessis pre­dicts that “a busi­ness mind­set” will be far more ev­i­dent at this tra­di­tion­ally laid­back time – and home buy­ing is likely to be ev­i­dent from early Jan­uary on­wards.

“Es­tates agents can ex­pect four good months be­fore the tra­di­tional win­ter hi­ber­na­tion pe­riod has its usual ef­fect. It is an ob­serv­able fact that sales drop by 50 per­cent and more in May and June com­pared to the sum­mer months,” says Du Plessis, “so the slight de­crease in win­ter sales which this longer June/July hol­i­day will bring about will not be sig­nif­i­cant.”

Du Plessis says pre­vi­ous World Cups, Olympic Games and other ma­jor sport­ing events had shown that about eight per­cent of the vis­i­tors re­turn for a sec­ond hol­i­day in the same area.

“I ex­pect much the same to hap­pen here in Cape Town with this qual­i­fi­ca­tion, that Cape Town’s im­pact on vis­i­tors will be far greater than that of any Euro­pean re­sort, be­cause Cape Town is so very dif­fer­ent and many will have ex­pe­ri­enced noth­ing like this be­fore.

“I also ex­pect that one to 1.5 per­cent of those who re­turn for sec­ond and third vis­its will end up buy­ing here – de­spite the long haul flight.”

Es­tate agents should, there­fore, be ad­ver­tis­ing them­selves through­out the World Cup pe­riod.

“Al­ready there are signs of an up­swing in buyer in­ter­est at the Cape.

“The World Cup draw was, to my sur­prise, the cat­a­lyst that many peo­ple were wait­ing for,” says Du Plessis.

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