Though it takes about four months to sell the average house in SA — up from two months in the mid-2000s, according to FNB’s figures — anecdotal evidence suggests that sellers in many of Joburg’s unsecured neighbourhoods are having to wait at least six to 12 months to find a buyer. This is particularly so for standalone houses priced R3.5m and up.

However, the city’s new-build sectional-title market is seemingly bucking the trend. Luxury mixed-use developments that offer a residential component as part of a live, work, play and shop lifestyle offering are reporting healthy sales activity.

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