Bad news for South African homeowners in 2024

There is no time to waste on testing the market

When you're selling in a breathless, panicked haste, because you're too laser focused on buying, and moving into the new place from the start. But meh... You can always console yourself in that it's normal. There are better ways to do these things though.
 
Bad news for South African homeowners in 2024

High interest rates are weighing on South Africa's property market – but there are steps homeowners can take to sell their homes faster.

Good luck, even dropping your asking price by 50%. There are houses in our area that has been in the market for more than 5 years now. Some even dropped by 20%. No sales. Admittedly, I have seen a couple selling within a year, but they are far and few between of late.
 
Good luck, even dropping your asking price by 50%. There are houses in our area that has been in the market for more than 5 years now. Some even dropped by 20%. No sales. Admittedly, I have seen a couple selling within a year, but they are far and few between of late.
Location, location, location
 
Bad news for South African homeowners in 2024

High interest rates are weighing on South Africa's property market – but there are steps homeowners can take to sell their homes faster.

Called my broker on Friday. He got me 0.75% Interest rate reduction on my Commercial and 1.1% on my 2 residential - house and flat.

Savings from those and Tax, is far greater than what I pay that grumpy old khaki shorts afrikaner.
 
No always.

I have yet to find the single location in South Africa where you can put your house in the market and sell it within a week either at your asking price or with a 20% drop. Once I get that location where each and every single house sells like that, I will believe it.
 
I have yet to find the single location in South Africa where you can put your house in the market and sell it within a week either at your asking price or with a 20% drop. Once I get that location where each and every single house sells like that, I will believe it.
Western cape
 
Location, location, location
I don’t think these articles are about a specific street or area - and generally about the country in general.

Car prices - for example - do decline … but a family member has made money on two cars.

Is it right to say an article on car decline is wrong because of the two cars? That’s essentially what you & your crew are doing

In fact, that’s pretty much how most your posts around here go, regardless of what topic your talking about
 
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I don’t think these articles are about a specific street or area - and generally about the country in general.

Car prices - for example - do decline … but a family member has made money on two cars.

Is it right to say an article on car decline is wrong because of the two cars? That’s essentially what you & your crew are doing

In fact, that’s pretty much how most your posts around here go, regardless of what topic your talking about
TransUnion’s latest Vehicle Pricing Index (VPI) shows that both new and used vehicle prices have experienced, on average, an above-inflation increase of 6.3% and 6.4% in Q4 2023, respectively (3% above inflation).

Notably, the report showed that older cars (>three years old) showed an even more significant price increase, rising between 14.6% and 16.7%.
 
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