Prop­erty show a must to un­der­stand the mar­ket

Weekend Argus (Saturday Edition) - - PROPERTY -

THE IM­PACT of the drought on the West­ern Cape prop­erty mar­ket has been a hot topic of con­ver­sa­tion re­cently, par­tic­u­larly as the phe­nom­e­non co­in­cides with a dras­tic slow­ing of house-price growth here.

Although some es­tate agents have re­ported a slow start to the year, sta­tis­tics from Light­stone re­vealed more prop­er­ties were sold in Jan­uary 2018 than in the pre­vi­ous two Jan­uar­ies.

Prop­erty economists also con­firmed that house-price growth in the West­ern Cape has dropped, but although the drought is thought to be hav­ing some im­pact, they largely at­tribute the slow­down to the nor­mal­is­ing of prices fol­low­ing years of out­stand­ing per­for­mance.

This mas­sive growth in the price of prop­erty in the prov­ince, and Cape Town in par­tic­u­lar, has re­sulted in af­ford­abil­ity chal­lenges for many po­ten­tial buy­ers, a fac­tor also im­pact­ing on prop­erty sales.

A num­ber of dy­nam­ics are there­fore cur­rently at play in the mar­ket, mak­ing next week­end’s Prop­erty Buyer’s Show at the Cape Town In­ter­na­tional Con­ven­tion Cen­tre an im­por­tant event for prop­erty play­ers and as­pi­rant buy­ers.

Among the speak­ers will be Light­stone data and an­a­lyt­ics di­rec­tor Paul-Roux de Kock, who will dis­cuss the West­ern Cape’s best-per­form­ing in­vest­ment hot spots and the im­pact of the drought on the prop­erty mar­ket.

To win tick­ets to the show, see be­low. – Prop­erty Writer

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