Page 7 - June Mag

FROM THE
CHAIRMAN

It is possibly one of the best Although the FNB House Price Index points to price

times to buy property appreciation of 4.2% y/y for February and slightly up
since January, the growth has been predominantly

evident in the low to mid-price sectors and once
Whether you are looking to take your first step onto adjusted for inflation is benign. Generally, while
the property ladder by buying your first home, or there has been a steady stream of sellers, the
looking to relocate or buy up, you potentially could market remains well balanced although we may
not have asked for a better time to invest in real start seeing stock shortages come through but only

estate. in certain areas.

Now is a great time if you want to buy a bigger The top end of the price scale continues to present
home with a study or some extra space to work some of the best buying opportunities both in terms

from or make a move to a lifestyle estate where you of new stock not seen before and prices which have
can enjoy more of a lifestyle while still adhering to remained relatively flat since 2017. FNB for example
vital social distancing and Covid regulations. The specifically noted that the top end price scale
unbelievably low interest rate means that you can declined by about 5.5% over the last year.

save around 30% on the cost of borrowing on the
one hand, or simply buy more square meterage. Looking ahead, the Seeff Property Group continues
to see the outlook for the market as positive with

Despite not getting another interest rate cut this activity driven by the low interest rate which is
month, the interest rate remains at the expected to remain at the current level for most of
lowest level in decades which is great this year. Impetus in the market in turn creates
for property and gives buyers the opportunities for sellers to also take advantage of
ideal conditions to get into the market. the market.

At the same time, prices have also
remained reasonable. The rental market continues to see pressure on
rental rates and for as long as the Covid Pandemic

lingers, tenants are likely to find it challenging to
pay higher rents. Landlords should therefore work
with credible agents and look to minimise losses
and vacancy rates.

Samuel Seeff
Chairman,

Seeff Property Group
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