Weekend Argus (Saturday Edition) - - PROPERTY360 -

BET­TER TIMES are ahead for the real es­tate in­dus­try, says Ger­hard Kotzé, manag­ing direc­tor of the RealNet es­tate agency group.

“We be­lieve mar­ket sen­ti­ment will im­prove sub­stan­tially af­ter the up­com­ing elec­tions.

“The elec­tions will set­tle a lot of lo­cal un­cer­tain­ties about the po­lit­i­cal and eco­nomic di­rec­tion South Africa will be tak­ing for the next few years.”

Many lo­cal mar­ket in­di­ca­tors are al­ready pos­i­tive, and the most as­tute buy­ers and in­vestors are pur­chas­ing now, while prices are still rel­a­tively con­strained and sell­ers are still will­ing to ne­go­ti­ate, says Kotzé. Con­sumer con­fi­dence holds the key to any pos­si­ble turn­around in the res­i­den­tial mar­ket in 2019, says Her­schel Jawitz, chief ex­ec­u­tive of Jawitz Prop­er­ties.

“While con­sumer con­fi­dence re­mains in pos­i­tive ter­ri­tory, it has not yet trans­lated into in­creased de­mand by buy­ers.

“This buyer cau­tion will be com­pounded by pres­sures on dis­pos­able in­come and the per­ceived uncer­tainty as the coun­try heads to­wards the elec­tions.”

WAIT­ING FOR THE VOTES It is hoped prop­erty mar­ket sen­ti­ment will im­proveaf­ter the elec­tions.

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