Western Cape property loses its lustre due to severe drought
The Western Cape’s housing market is expected to underperform in 2018 and Gauteng’s may be improving‚ according to FNB’s Property Barometer.The annual report reveals home-buying patterns in the country‚ indicating migration patterns in various provinces."While much interprovincial repeat home-buyer migration is driven by economic opportunity‚ we believe that it has increasingly been due to a greater search for ‘quality of life’ or ‘lifestyle’ by the country’s higher-income people. This includes a significant number of working people who have the financial and increasingly the technological means to work remotely from their place of employment‚ or away from their business or their client base‚ and relocate across the country in search of greater quality of life‚" the report reads. Retirees are also moving from major metros to coastal or rural areas."The Western Cape province has over the past decade or so been benefiting from this search for quality of life‚ having managed to success...
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