The SA homes market is now truly and finally poised for positive change in 2019
Category Blog
"Change is the law of life and those who look only to the past or present are certain to miss the future" - John F Kennedy
"All great changes are preceded by chaos" - Deepak Chopra, a prominent figure in the New Age Movement.
-----------------------
(PLEASE NOTE ALL OUR PROPERTIES ARE AVAILABLE TO BE VIEWED DURING DECEMBER IN THE PARKS AREAS.
WE ARE ON SHOW THESE NEXT TWO WEEKENDS)
South Africa's current persistently languid residential property market is at last poised on the doorstep of change.
This prognosis comes after a frustrating decade of socio-political and economic chaos that hammered both buy/sell sentiment and market growth on the back of the financial crisis of 2008/9. The market flat lined for 10 years (4.8%pa growth - less than inflation at 5%)
It is now becoming increasingly clear that the past three successive, and particularly difficult, years of underwhelming performance - from 2016 to 2018 - could well be the springboard for the long-awaited market upturn.
But it is likely to happen once the 2019 national election has come and gone. Even though there is a strong opinion that the turnaround might start earlier in anticipation of a positive election outcome. Confidence is likely to start filtering back into market sentiment from January.
The pendulum of sentiment
However, as human beings we are adept at reacting, and adjusting, to change - in line with Newton's Third Law of Motion: For every action there is an equal, and opposite, reaction.
History has shown that sentiment in the residential property market always swings like a pendulum. No matter how good or bad circumstances are, the pendulum is never inert.
Right now, we are at the end of a downswing and are poised to move into an upswing - depending on the mood going forward.
It will take place against the background of the sheer horror of the widely-spread 'State Capture' issue and other alleged acts of malfeasance and misdemeanor that have been reportedly overhanging the market.
But that, too, will pass. So much so that 2019 could, in fact, turn out to be a watershed year of turnaround for the residential property market.
Warm seasonal wishes
Meanwhile, the Ennik Estates team once again joins me in extending warm seasonal wishes to all home buyers, sellers, and owners in the greater Johannesburg residential community.
Not least to those whom we have assisted during 2018 in securing the sale, purchase or rental of a quality home.
This has been another highly challenging - if not the most challenging - post-democracy residential property market years we have faced since the global property meltdown of 2008/9.
The result of the 2019 election will dictate whether or not history repeats itself.
Author: Ronald Ennik
