Markets Do Shift
There is still a good demand for property in Sandton. Mortgage rates are still relatively low compared to the early 90’s. Increased interest rates have placed some buyers out of the running.
Some sellers are sitting on the fence. They’re hoping for prices to rise so that they can squeeze the most money for their homes.
The key here is not to panic as we are now accustomed to a market that is anything but normal.
What’s happening now is that the market is reaching a new type of normal. Lots of people are confused about what’s happening in the property market.
No-one can predict what’s going to happen during the latter part of 2022.
There is lots of rhetoric about the current market. Some are hyping up the market. Others are saying prices will fall as interest rates continue moving upward.
The best you can do is to keep informed about current property prices in your area. You should discuss your needs with a property professional.
