JP Farinha speaks about the current property market
We recently spoke to our valued client JP Farinha who is an online property Guru and is the CEO at Property 24, about his opinion on our current property market.
“So far in 2018 national property price growth has slowed mainly due to a weakening in the Western Cape. When we look at leads generated nationally on Property24 over a rolling year, we see that there is a definite weakening of interest in the segment of properties below R1.3m. However, the segments above that are all either stable or increasing. This is perhaps an indication that the difficult economic conditions are having a bigger impact on the less affluent.
Stock levels seem to be rising across the Western Cape which may indicate prices have over-reached and the market may require some consolidation. In Gauteng and Kwazulu-Natal stock levels are flat to down which may point to a stronger market to come in these provinces.”
We, Agents for You, feel that in every market there is a willing buyer and seller. Expectations will differ in a buyers and sellers market, our job is to manage those ever changing expectations and to match that willing buyer with a willing seller, while negotiating realistically considering the current market.