It is not unheard of for a property market to reach a bit of a standstill in the time leading up to a national election. With the election date set for May 8, activity in the property market may improve in the months to follow, says regional director and chief executive of Re/Max of Southern Africa, Adrian Goslett.
“Many investors prefer to keep their finances liquid until the future of the economy becomes more stable. Sellers will have to keep this in mind when putting their property on the market over this period,” he says.
However, Goslett believes having the election date set should help the market become slightly more active.
“With the date set, we might begin to see a slight uptake of buyers begin shopping for a suitable property in the hopes of finding one by the time elections have come and gone.”
Nevertheless, sellers should not expect a turn-around in market conditions until a few months after the elections. The uncertainty that plagues investors in the pre-election period centres on the behaviour of political parties leading up to and following the election, he says.