The Effect Of Load Shedding On Properties
It seems that load shedding is here to stay. The national energy provider is still battling to keep up with demand. There are constant maintenance issues.
So people are predicting that load shedding will remain or even become worse in the future.
This is not good for most homeowners. Some have invested in solar heating or solar electricity.
Load shedding, together with the pandemic, has slowed the growth of our economy. This has dire financial consequences for the country.
The poor economy is also affecting the property market. Many thousands of people have lost jobs during the last few years. This means that they are unlikely to be buying property any time soon.
This situation has also negatively affected property investor sentiment.
Load shedding has increased the cost of running a home. Some homeowners are thinking about investing in costly generators or inverters.
This too could scuttle the plans of those who want to get in or out of the property market.
There is some light at the end of the tunnel – the US, UK and EU are investing billions of dollars to help South Africa transition away from fossil fuels. This should be good for the property market in the next few years.
