Here is your property update for the Randburg Property Market outlining all the newest property trends in the market. We are all going through the same or similar things at home. We have rising costs, and rising earnings, but not at the rate of our inflation. The most recent FNB Property Barometer for 2024 provides some valuable insights. Let’s consider the most relevant advice for the Randburg Property Market. Click here to visit our website and to book your Randburg Property valuation. Or call our KW Select Office on 064 549 3123.
What Are The Major Headlines For The Randburg Property Market
The Randburg Property Market is seeing some major trends.
- Interest rates. Yes, they are higher. This creates tension in the market because buyers are nervous about the repayment of their loans, but it is quite possibly higher than we will see in the years to come. The interest rate will come down.
- House price growth in Randburg is not as high as many sellers would like. This means a price correction is in play. This also means that properties fetch a little less than a bullish sales price in the current market. Price it right though and it will sell.
- The most hard-hit sector of the Randburg Property <arket is for the first-time home buyers’ market, up to R1,500,000. But when interest rates come down this will change.
- Yes, there are more disruptions to the usual buying activity. With our SA general election looming a few weeks from now, we are all standing by hoping to see some much-needed change.
- Some families are upscaling.
- Other families are downscaling. They are actually selling a bonded property and buying a smaller property for cash.
- There are fewer buyers in the market willing to take a risk but they are looking for value at reasonable prices.
- Yes, it also takes longer to sell a Randburg Property. FNB maintains it will take around 3+ months to sell a property. So, a property that goes onto the market for sale must be priced correctly for sale.
One Source Used for Randburg Property Market Updates
The time it takes given the recent FNB Property Barometer Results for earlier in 2024 is 3+ months.
What This Means If You Are Serious About Selling Property In Randburg?
- Buyer activity has slowed in the Randburg Property Market. Buyers are considering increasing costs very carefully. Debt servicing costs are a strain.
- General household living expenses have increased.
- Enquiries to a new listing are reduced. But that also means fewer viewings to a sale if your property is priced correctly.
- House price growth is slower. A wishing price does not work in the current Randburg Property Market. Accurate pricing for a property sale is essential.
What Are Your Plans Now If You Are Very Serious About Selling In Randburg Property Market?
- Expect properties to take longer to sell 3+ months in Randburg and many parts of SA.
- Expect fewer enquiries.
- Consider your asking price in line with the market-related info we will share.
- Buyers decide the price when they buy. The buyers hold the purse strings.
- The market determines the price a property will sell for.
If It’s Time To Sell Then KW Select Can Assist
Trusted globally and proudly the largest real estate franchise in the world, more homeowners simply trust Keller Williams. Our KW Select Randburg estate agents have air-tight value propositions and they get results. If you have plans to sell your Randburg property, call for more info or visit our Website.
