Townhouse For Sale in Rooihuiskraal North, Centurion

Good day Mohlapa

I hope this message finds you well. I wanted to provide you with an update on the status of your property. While we haven't had any clients express immediate interest in scheduling a viewing, please know that this is not indicative of the property's appeal. Your home possesses many wonderful qualities that I'm confident will attract the right buyers in due time. Its charm, excellent condition, and desirable features make it a standout in the market. I remain optimistic that with continued marketing efforts and persistence, we'll soon find individuals who are genuinely interested in exploring the possibilities of making your property their new home. Thank you for your patience and trust in us throughout this process. Together, we'll achieve success.

A shift from a buyers’ to a sellers’ market has started

There are strong signs of a positive about turn for South Africa’s property sector during 2024 with key indicators pointing to a shift from a buyers’ to a sellers’ market, according to Tyson Properties’ chief executive, Chris Tyson.

READ: Selling: A closer look at an agent’s role

Speaking in the wake of the recent decision by the Reserve Bank’s Monetary Policy Committee to leave interest rates unchanged – the fourth such decision in a row - Tyson is confident that a drop in interest rates is on the cards later this year. This will, inevitably, lead to an uptick in property transactions.
Already, Tyson believes, there were positive undercurrents within what might have seemed to have been a fairly downbeat 2023.
Although the 2023 market was down 29% on average, the Lightstone Report points to the fact that 38% of all transactions were first time buyers indicating an appetite for home ownership is bubbling under.
Already, he says, Tyson Properties has seen increased numbers of enquiries nationally, indicating that change is coming.
“In fact, I believe the shift started on New Year’s Day and will gradually continue over the next 24 months. We entered 2023 with a negative outlook. We were expecting interest rates to increase and even talked of the power grid collapsing. At the beginning of 2024, we are entering the year with a more positive outlook. The sentiment in the market is exciting,” he notes.
The major economic indicators are there for all to see. Despite the Reserve Bank’s warnings, it seems inflation is returning to more acceptable levels as it has in key global markets such as the US and Europe. This suggests that the upward phase of the global interest rate cycle has ended and that local interest rates could follow global interest rates downwards.
Although Lightstone observes that still absent political and economic certainty are key factors when it comes to stabilising the property market, Tyson believes that both are set to settle during this election year which will provide clear answers and end fence sitting.
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Rates And Taxes: 800
Levies: 4142
Property Reference #: 113689174

Agent Details:
Monica Pentz
eXp Realty - Steven Johnstone Group
1 Apple Street
Kenilworth
Cape Town
7708