The more things change, the more they stay the same.
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"It is astonishing just how resilient the South African residential property market can be - and has historically been - in the face of adversity.
Even more so when you consider the magnitude of issues our country continues to face.
Take, for instance, the serious, sentiment-sapping, deficiencies of governance, political leadership, and economic performances that currently prevail.
Note, as well, the plunge in business confidence; the toxic effects of the ongoing 'State Capture' process; the upheavals surrounding constant Cabinet reshuffles; and the persistently dismal unemployment figures".
That is an excerpt from a home buy/sell column I wrote, and published, way back in mid-October 2017. It is a pity that the message it delivered, at that time, has remained appropriate to this day...five years later! Against that background, it comes as no surprise that "load shedding" has reportedly emerged as the most-used term in South Africa in 2022!
My reason for referring to the status quo in South Africa in a property related column is that our circumstances and environment influence whether we feel expansive and happy or threatened and vulnerable. This in turn influences the medium to long term decisions we make. Buying and selling property is the most fundamental of those decisions.
The property market is driven by sentiment. Remember the uptick in the property market during the 'Ramaphoria' period soon after Ramaphosa became president?
Overhanging question marks
Looking ahead, it would be wise to ponder the question marks that overhang the ruling ANC party's upcoming, and potentially explosive, Elective Leadership Conference in mid-December 2022.
Held every five years, the Conference is the forum for the election of members of the National Executive Committee - the ANC's highest decision-making body.
Hopefully, elected members will emerge from the Conference with a clear-cut, once-and-for-all, consensus on the need to confront, and destroy, the now long-prevailing scourge of State Capture.
Perpetrators to be accountable
Its shadowy, unrepentant, perpetrators - past, present, and future - should be identified (many have been), brought to book and committed to a prison lifestyle. If the welfare of the country can be put ahead of protecting colleagues in the party the ANC can still turn around the prevailing negative sentiment. And the property market will respond positively.
It is therefore encouraging to note that Advocate Shamila Batohi, head of the National Prosecuting Authority (NPA), has reportedly said her organisation will "take bold and innovative steps to bring justice and restitution to the nation when dealing with both corporate and state capture cases".
When those steps are applied, as promised, they will undoubtedly boost national sentiment - not least in the home buy/sell arena, where "wait-and-see" has tended to prevail over "look-and-buy" for far too long.
Author: Ronald Ennik
