As a growing company, we look at what we believe the trends for the year ahead will be in order to strategically plan where we will be opening new offices, placing new staff and implementing new marketing strategies. Well, we can start with the fact that most buyers and sellers are waiting until the election results in order to make good educated decisions. However, for this brief period in the market, there is good money to be made.
“next to impossible for 1st time buyers”
I was always told by my father “son you must make money the day you buy a property not the day you sell it”. Well, this is the market where they can happen. The people with years of accumulated wealth send their money offshore prior to elections and these are the buyers that have been pushing prices up over the last ten years in the Western Cape. So many people have come to me saying the property prices in Cape Town make it next to impossible for 1st-time buyers to get into the market. Well, I say to those people now is the time to get in. If the elections go well a lot of money that has been sent offshore will return as we head into next summer, pushing the prices up again.
“extremely optimistic”
Respectfully the property market is sitting on a lot of stock both brand new developments and second-hand homes. The market is ready to start looking at offers. As a man that is extremely optimistic about the futures this country, I am personally following the advice my father gave me and I would encourage other young buyers to take advantage of this market.
Nick Pearson
076 788 3845
nick.pearson@tysonprop.co.za
