Lower end sales up to R4,000,000 and rentals at Hardie Property are incredibly busy. Speaking to fellow real estate friends, the same can be said for them.
After serious lock-down there is pent up frustration and people (buyers and tenants B&T’s ) want to move, can move and have different needs. In this article featuring Sue Bond, which I wrote in lock-down, we discussed that there would be movement once allowed.
There are so many reasons people are moving.
– B&T’s can now live wherever they want to and and aren’t necessarily tied to a commute.
– B&T’s circumstances have changed and they now need more space at home because they work from home. The other consideration is peace and quiet because they are either working or studying.
– B&T’s are downsizing.
– B&T’s who didn’t have outside space before are now craving it.
– B&T’s didn’t survive lock-down together and now need their own space.
There is an endless list of reasons. I am just grateful the market is so busy having set up Hardie Property so recently.
Further attributions to this activity is the recently reduced repo rate which in total has been cut by approximately 40%. Lending in South Africa has never been so low.
Furthermore, the Cape Town property market has been in a slump for just over three years. Drought and politics are predominantly to blame. We then saw a pick up in activity Q4 2019 and Q1 2020 before Covid-19 hit. Now we can all move again, the market is really picking up.
On a final note and to touch on mine and Sue’s discussion in lock-down, I believe there will be another semigration from Johannesburg and Pretoria.
If you would like to get in touch you can email me firstname.lastname@example.org or call 076 252 7254