Property market trends ebb and flow every year. Factors like our economic climate, interest rates and inflation make a massive impact on our spending and saving habits. But determining when might be the best time to buy or sell can make a great difference in how you manage your money and get the home of your dreams.
Even though there is no secret formula for every transaction, we share a few insights that might help you to get as close as possible towards a mutually agreeable sale.
How To Pick The Best Time To Buy Or Sell
Market trends for 2018
These are some of the trends that were hot for this last year:
- New housing developments have become highly sought after for various reasons including affordability and the demand for housing and security in all provinces.
- Suburban sales are suffering compared to a rising volume of sales in metro areas. The cost and stresses of commuting are pushing people to move closer to their places of work.
- More than 80% of homes sold in South Africa were priced under R1,5m giving rise to a need for more affordable homes.
The average age for first-time buyers is 44 years old. This indicates that we take longer to save for our first homes, even though there is no real “right age” to buy.
- The demand for swimming pools and domestic facilities have been firmly replaced by a demand in high-speed internet and solutions to greener living, which makes smaller homes more accommodating.
Very little is expected to change in 2019, with the belief that new developments will remain in high demand. In fact, most of the trends we saw in the property market during 2018 is expected to continue in 2019.
So, how do you determine when the best time is to buy or sell?
As the trends are mostly expected to stay the same for the coming year, buyers and seller have found a bit of a breathing space without having to hustle to get their dream home.
The same considerations that you would put into selling a house apply to when you are buying. Summer generally attracts the most buyers since gardens and home are looking at their best. But buying a new unit from a developer can easily happen at any time of the year.
Keep an eye on the market trends that occur in the suburbs you are interested in and speak to real estate agents who are willing to offer advice.
The Milkwood Townhouse Complex is a brand-new development that offers all the benefits of living in a secure estate. Each home is complemented with a solar geyser and our homes are uniquely designed to welcome your young family as a first-time buyer. Buying directly from us will mean that there is no transfer cost involved and the tax is already included in the selling price.
We offer the best in community-style living and have worked towards giving you a safe place for you to call home. Please contact one of our agents if you are interested in viewing one of these homes.