JOHANNESBURG - The South African property market has seen an upswing in home-buyer activity after May 8 general elections, and this coupled with competitive lending conditions and lower inflation figures presents an advantage for first time buyers, real estate firm Leadhome said on Wednesday.
"It is most definitely a buyers’ market and while the property market has remained fairly flat, this is good news for first-time buyers seeking to invest," Leadhome CEO Marcél du Toit said.
"As a first-time buyer you are spoiled for choice, which means you have the upper hand to ‘shop around’ to find a suitable home at a good price."
The second quarter of 2019 saw a spike in offers to purchase and strong interest from first-time buyers.
Buyer demand returned with a 10 percent increase in portal inquiries from mid-to-end May, compared to the beginning of the month, said Romy Zwiers, head of marketing at Bondspark, Leadhome’s bond originator.