Residential property boom may run out of gas in 2021
Pent-up lockdown demand and lower interest rates can only take the market so far as South Africans adjust after a tough 2020
The residential property sector’s 2020 surge in sales and house price growth is set to lose energy in 2021 as economic woes bite, even though properties in the R700,000-R1.5m price band are likely to remain popular.
Last year, houses priced between R700 000 and R3m were the hottest properties but SA’s largest estate agencies are reporting that pent up demand from the first eight months of 2020, when SA’s lockdown was at its most stringent, is now dissipating. ..