Homenet reports market slowdown

The residential property market is slowing down, particularly in certain areas of KwaZulu-Natal and the Eastern Cape, where price have outstripped affordability levels, according to Homenet managing director Dave Rogers.

Quoted in an article in the Bond Choice Bulletin, Rogers says there is no sign of any bubble developing, adding that the rate of price growth has definitely levelled off.

Predicting that price growth will remain in the more sustainable 10 to 12 percent range for the rest of the year, Rogers says the outlook is positive overall.

He is, according to the article, also upbeat about the shift in new development trends fro eh upper end of the market to the middle sector. This is in response o ongoing pressure for residential development in the R300 000 to R700 000 price range, where there are “plenty of buyers.”

Accordingly, an increasing number of Homenet members have thrown themselves and their resources behind the trend, some getting involved with actual building while others are working with the developers in e a marketing capacity. There's no doubt that the future is bright, concludes Rogers, not only for serious real estate players, but also their clients who stand to benefit form enhanced service levels and an ongoing commitment to satisfying their needs.