What To Expect In The 2022 Property Market

What To Expect In The 2022 Property Market

2021 was a tumultuous but highly positive year in the property market in St Francis Bay and nationwide. So let’s have a look at the 2022 property market.

 

Record-low interest rates

The continued record-low interest rates have meant that the residential property market is still very buoyant. 

Buyers are taking advantage of being able to finance their property purchases at more affordable levels. But unfortunately, this has resulted in stock shortages in many areas of the country.

New developments

Well-priced properties are, however, selling very fast, and there is not much stock available.

As a result, new developments are launching to pick up the demand. The demand side has been interesting … we have seen more demand for property in the higher price brackets, which previously lagged in the middle to lower-priced properties.

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the 2022 property market

Best year ever for sales

2021 was our best year ever in terms of sales at Harcourts. We were 50% better than our previous best year!

As most in the industry expect, interest rates will continue to edge up. Realistically, we can expect another 0.75% increase over the forthcoming 12 months, which might see a slowing of buyer demand.

However, this won’t be significant. As more development stock enters the market, the shortages will diminish in certain areas, which will make it less of a seller’s market.

The 2022 property market

2022 will, overall, see a continuation of 2021 trends. Still, in these unusual times, I have to add that this is assuming there is no major external event.

Marsha

marsha.cooper@harcourts.co.za

the 2022 property market

Previously in Property News You Can Use.

Property News You Can Use – Coastal Towns Have Become Popular Retirement Spots Again. Good news for coastal agencies.

The Property Practitioners Act Is Passed – Some significant changes are set to kick in on 1 February 2022 when the Property Practitioners Act regulations commence.