Property buyer enquiries have halved since the start of 2017, says Seeff
Gauteng is not the weakest market in terms of house sales‚ despite there being an over-supply of stock in some parts of the province. A recent report released by Seeff Properties shows that Centurion is sitting with 9‚000 properties on the market. This‚ according to the company‚ equates to 18 months’ worth of property to be sold without any properties coming into the market.In its report‚ Seeff also noted that buyer enquiries have halved since the start of the year and "we are now in the slower period with activity only really expected to pick up from September onwards", said Steve van Wyk‚ MD at Seeff in Centurion.FNB household and property sector strategist‚ John Loos‚ agrees with Seeff that house sales have, indeed, declined. "But recently‚ our FNB Estate Agent Survey has actually shown Gauteng homes average 12 weeks on the market prior to sale‚ which is significantly shorter than the three coastal metros’ average time on the market of closer to 20 weeks, so‚ I don’t think Gauten...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.