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Will 2018 end on a high note for the residential property market?

Experts hope the final quarter will save difficult, lean year.

All eyes in the residential property market are on the facts and figures emanating from the last three months of the year, in the hope that 2018 will end on a positive note.

The property market has been battered by the economic climate, rising fuel prices and other increasing costs of living.

But while the effects of the economic, political, and climatic pressures have been “undeniable”, says Schalk van der Merwe, franchisee at the Rawson Properties Helderberg Group, the fourth quarter could be the turning point that kickstarts the Western Cape’s property market back into high gear.

He attributes this positive outlook to progress in three of the key areas responsible for the past year’s property contraction: the drought crisis, a decrease in semigration, and an uncertain political environment.

“The drought hit the Western Cape hard on many fronts. Not only did we get significantly fewer local and international tourists we also lost many of our upcountry buyers as semigration dried up right alongside our water.

Read more: Will 2018 end on a high note for the residential property market?

 
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The South African economy may still be in decline, but the latest BankservAfrica economic transaction index (BETI) shows some growth in August.The economy has been battered by a slew of recent negative economic news, from  Read More...

South African businesses of all sizes, including educational institutions, have been particularly hard hit by an onslaught of cyber-attacks, although this is not always public knowledge, according to Kerry Curtin, cyber risk expert at Aon South Africa.Cyber risk...

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Politics

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French arms company, Thales, which has been charged along with former president Jacob Zuma in his corruption case, is seeking a permanent stay of prosecution to have the charges against it reviewed and set aside.Thales lodged the application with the Kwazulu-Natal...

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Public Enterprises Minister Pravin Gordhan has warned of a "determined and vigorous fightback" campaign from those opposed to efforts to implement clean governance at state entities.In his submission to the judicial commission of inquiry into state capture, Gordhan...

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Cape Town - The leadership of Western Province Rugby has moved to distance themselves from reports of a 5% salary cut for all staff, management and players...

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London - Chris Ashton will make his first England start for four years in one of three changes made by coach Eddie Jones for Saturday's match against the All Blacks at Twickenham.Ashton, who ended a lengthy England exile when coming off the bench in last...

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