11/02/2019
WILL 2019 BE THE TURNAROUND FOR THE ECONOMY AND PROPERTY MARKET?
That is the question on everyone's lips as we look forward to dusting off the challenges of 2018 which was, by all accounts, a challenging year for the economy and property market. Overall, while it remained business as usual for the sub-R1.5m sector, there was a notable weakening in demand above the R3m to R5m price bands.
A weak economic climate, political noise and property ownership concerns impacted on the market to a notable degree. Conditions shifted largely in favour of buyers. Price growth flattened, although with no real price devaluation evident as yet. While down on the highs of recent years, the market also did not reach anywhere close to the lows of the post-2008 period.
Market likely to remain fairly flat
Looking to 2019, we expect to start the year on much the same foot and will need to be patient for a little while longer as the market is likely to remain fairly flat for the first few months for a number of reasons.
