Web­site re­jects good sen­ti­ment

Business Day - Home Front - - HOME FRONT -

MIXED BAG While in­dus­try an­a­lysts are com­ment­ing on an up­swing in the lo­cal prop­erty mar­ket, Prop­erty24.com has warned against too pos­i­tive an out­look, not­ing that the up­swing needs to be viewed within the con­text of other ac­tiv­ity in­di­ca­tors. Prop­erty24.com re­cently merged with prop­erty soft­ware spe­cial­ist firm Kor­bitec, and the merged com­pany’s soft­ware is utilised by most real es­tate agents and prop­erty lawyers of­fices.

Through its soft­ware, Prop­erty24.com en­joys reg­u­lar ac­cess to daily ac­tiv­ity in­di­ca­tors within the in­dus­try, such as new prop­erty list­ings, sold and with­drawn prop­er­ties, trans­fers and bond reg­is­tra­tions and can­cel­la­tions. Fig­ures emerg­ing from Prop­erty24.com show that stag­na­tion has set into the lo­cal mar­ket.

Dawie Ver­ryne, CEO of Kor­bitec, says: “We saw the in­dus­try start to pick up in Septem­ber 2009 in terms of ac­tiv­i­ties per busi­ness day, with a 12 month high reached in Fe­bru­ary this year. But since then we’ve seen a fair de­gree of stag­na­tion. Even in the April hol­i­day sea­son, where an ac­tiv­ity dip is pre­dictable, we saw ac­tiv­ity fall fur­ther than ex­pected. We also haven’t seen any ac­tiv­ity growth in last three months, and the world cup is ex­pected to re­duce lo­cal work­ing hours sig­nif­i­cantly, a fur­ther neg­a­tive fac­tor in the short term.”

Ac­cord­ing to Ver­ryne, af­ter the world cup SA could be in need of a macro-eco­nomic trig­ger to reignite its prop­erty mar­ket.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.