The property market can be complex at the best of times, and understanding the current state of affairs before looking at property for sale in Mpumalanga is important to determine how you will approach buying or selling.
Sentiment sheds some light on how people are feeling about the residential property market in the now, and the most recent ABSA Homeowner Sentiment Index (HSI) has revealed that positive sentiment has continued to fall in the second quarter of the year.
This by no means suggests that there is not money to be made, or good investment opportunities, it just indicates that consumers are not completely positive about all aspects in the market. Looking at the overall feel, there was a drop of 2% in overall positive sentiment in the property market, which shows concern slowing slightly after a fairly big dip from over 80% to 75% between the end of 2017 and the first quarter of this year.
One of the biggest concerns from this year came via political uncertainty at the start of 2018, followed by the land reform issue which left many concerned and confused. Government has worked hard to provide a clearer understanding, but it could take time for the damage to be dealt with.
Consumers still felt positive that property investment allowed them to get a secure asset, and believed that they would still get a good return on their investment in years to come.
The report continues to dig down into various sectors, including buying, selling, investing and renovating – but all of these sectors saw a dip in sentiment. Buyers did feel that there was an opportunity to snag a bargain, while sellers also had confidence that they would still be able to fetch a decent price for their property at present.
Sentiment is not expected to change over the rest of 2018 though, and with increased financial pressure due to increases in the petrol price and taxes, things could get a little more difficult in the market before they get better.
