Cape Town Southern Suburbs property market bouncing back

Analysing the Cape Town Southern Suburbs property market is always difficult because of the wide variety of properties available. Different regions create demand at different times and the economy effects local markets in a completely different way.

However, from a holistic perspective, despite the South African property landscape being under a lot of pressure in the past 18 months, there are certain areas of the Cape Town Southern Suburbs market that have defied this decline and are showing promising growth patterns.

“During the final quarter of 2018 and the first quarter of this year the market started gaining momentum. We’re seeing value returning to properties and there are far more buyer inquiries. Properties that are priced correctly and accurately are seeing more buyer and tenant enquiries,” explains Roxy Pugh, Sales and Rentals Manager at Harcourts Maynard Burgoyne.

“Highlighting two areas in the market showing growth: 1) rentals in the affordable sector have stabilised and are increasing in demand, 2) developments in high-income regions have also maintained growth and much of that has to do with lifestyle and security choices as well as good return on investment value.”

“During 2018 there was a negative market sentiment and consumers were under immense pressure, greatly influencing investor confidence. We saw value plummet and rental and sale properties prices drop. Economic fluctuations and turbulent and unpredictable macroeconomic factors deterred many from making investment choices and that played a major part in the growth cycle of the market. However, with the water crisis stabilising and economic pressures evening out consumers appear to becoming more active. And they are turning to the Southern Suburbs,” says Barbara Walls, Office Manager at Harcourts Maynard Burgoyne.

The Southern Suburbs offer many a fantastic opportunity to invest in good value properties that have great long term growth possibilities. There are an abundance of property options and region varieties catering for almost anyone. The Southern Suburbs have to be one of the most investment diverse regions in the country. With anything from affordable homes to apartments for professionals and luxury living in security estates.

Our agents have an in-depth knowledge of this region and we’re able to assist you with any property transaction.

Statement by
Roxy Pugh
Sales and Rentals Manager
Harcourts Maynard Burgoyne

Barbara Walls
Office Manager
Harcourts Maynard Burgoyne