Here are the most recent Randburg property trends for 2024 and 2025. The best source for property information is the FNB Residential Property Barometer (March 2024). Let’s look at the forecast for the 2nd half of 2024 and early into 2025. There is nothing but a positive outlook at play in Randburg. If it’s time to get serious about a Randburg property sale or a Randburg property rental, call Sandy on 083 550 1220.
Property trends, growth in January 2024
- The FNB House Price Index (HPI) averaged 0.6% and remains unchanged from December 2023.
- Our growth seems to have bottomed in the 4th Quarter of 2023.
- But a little upward trend is expected in the 2nd Half of 2024.
- Supply and demand have reduced in the 1st Half of 2024.
Randburg property trends: how do things look for the rest of 2024?
- The market we saw in 2022 was a booming market on all fronts.
- The worst levels yet to be seen seemed to have been reached in 2023.
- Mortgage lending or home loan volumes have declined by 28%.
- Affordability is stretched more than ever which is keeping our buyers home.
- Buyers are selling and buying for less and quite often without a bond.
- Supply in the lower-priced segments cannot seem to come up and the demand is high.
- And some high-value segments especially in the Western Cape have grown as semi-gration continues. But this trend is normalising too from what we can see.
- We expect affordability pressures to ease a little. We expect a rebound in activity later this year or early in 2025.
- But, house price growth is not expected till early 2025.
- We expect inflation and borrowing costs to decline and add to that employment growth which will stimulate demand, especially in the interest-rate sensitive price segments.
Randburg property trends: property sales volumes by say 2025
- We expect house price sales volumes to become much stronger in 2025.
- Volumes will stabilise.
- Sentiment in general will improve.
- Employment levels will lift.
- We expect to start seeing more interest rate relief.
- Property sales volumes should lift by almost 15% in early 2025.
- Property valuation will likely still lag as the House Price Index starts to lift, a little in early 2025.
- Demand for Randburg property will lift from late 2024 to early 2025.
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In conclusion, what are the Randburg property trends on the cards for 2024 and 2025
Let’s consider what the senior economist from FNB has to say about the property market, one thing is certain. “The outlook for the Randburg property market for 2025 is positive”. Sales are being concluded in 2024, but sellers are not getting their prices. “Well-priced Randburg properties ARE selling”. Need help and need an accurate Randburg property valuation? Call Sandy on 083 550 1220. Visit our website for more information about the Randburg Real Estate Team with strong Christian Values. We have added some critical elements to our real estate mix that are crucial in the current property market. Faith and Favour are the 2 things that as Christian Estate Agents, we believe are essential. Nicole Crowe and Sandy Graham offer trusted and valued Randburg real estate solutions for Randburg property sales and Randburg property rentals. Call Sandy on 083 550 1220 for more information.