Property show a must to understand the market

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