{"id":528450,"date":"2021-10-30T08:30:42","date_gmt":"2021-10-30T06:30:42","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=528450"},"modified":"2021-10-29T15:24:45","modified_gmt":"2021-10-29T13:24:45","slug":"south-africas-property-market-has-shifted-and-more-people-are-nervous-about-buying-homes","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/528450\/south-africas-property-market-has-shifted-and-more-people-are-nervous-about-buying-homes\/","title":{"rendered":"South Africa\u2019s property market has shifted &#8211; and more people are nervous about buying homes"},"content":{"rendered":"<p>Absa has published its Q2 Homeowner Sentiment Index (HSI), which shows the average consumer confidence level regarding the property market in South Africa.<\/p>\n<p>The index results were collected at the end of June, with some respondents being interviewed during the acts of violence and destruction to property seen in KwaZulu-Natal and Gauteng at the beginning of July 2021, which is reflected in the results.<\/p>\n<p>The index shows that overall sentiment is down 4% in Q2 2021, ending at 77%. The reasons that were given by respondents who are not confident about the South African property market include:<\/p>\n<ul>\n<li>Economic and political instability\u00a0 &#8211; up 25% compared to Q1 2021;<\/li>\n<li>The high levels of crime and unemployment &#8211; up 28% compared to Q1 2021;<\/li>\n<li>Land expropriation without compensation making property an uncertain investment.<\/li>\n<\/ul>\n<p>&#8220;Sentiment towards buying property has decreased for the first time since Q1 2020, ending a streak that saw the achievement of the highest buying sentiment recorded in Q1 2021,&#8221; Absa said.<\/p>\n<p>&#8220;Respondents who own property as investments have continued to be the most positive about buying property (with a buying sentiment of 82%), reasoning that property is always a good investment.&#8221;<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2021\/10\/Absa.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-528452 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2021\/10\/Absa.png\" alt=\"\" width=\"1240\" height=\"617\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2021\/10\/Absa.png 1240w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2021\/10\/Absa-300x149.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2021\/10\/Absa-1024x510.png 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2021\/10\/Absa-768x382.png 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2021\/10\/Absa-1200x597.png 1200w\" sizes=\"auto, (max-width: 1240px) 100vw, 1240px\" \/><\/a><\/p>\n<p>In the last few installments of the HSI, Absa noted that general uncertainty due to Covid-19 is subsiding and giving way to concerns around specific outcomes of the pandemic.<\/p>\n<p>&#8220;In the Q2 survey, we have seen general uncertainty return as a driver of negative certainty. We believe this to be due to Gauteng having been in the throes of a third wave, with ample coverage of measures being put in place by the Presidency.&#8221;<\/p>\n<p><strong>Sellers still positive\u00a0<\/strong><\/p>\n<p>Sentiment towards selling property was the only subindex that did not see a reduction against the previous quarter.<\/p>\n<p>Respondents continue to believe that they can get a good price for their property &#8211; although fewer respondents mentioned this as a driver, Absa said.<\/p>\n<p>&#8220;Selling sentiment remained unchanged against Q1 while buying sentiment reduced for the first time in five quarters.<\/p>\n<p>&#8220;This has resulted in the gap between buying and selling sentiment reducing by 7%. The segment of respondents who hold property as investments were the only ones to have had a reduction in sentiment towards selling property \u2013 having done so for the second consecutive quarter and showing their growing appetite to hold investment property.&#8221;<\/p>\n<p>This resulted in an enabling environment for property investors \u2013 one where they are bullish while other players are bearish, Absa said.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/property\/527416\/heres-a-look-at-the-property-market-in-cape-town-on-the-other-side-of-the-mountain\/\" target=\"_blank\" rel=\"noopener\">Here&#8217;s a look at the property market in Cape Town, on the other side of the mountain<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Absa has published its Q2 Homeowner Sentiment Index (HSI), which shows the average consumer confidence level regarding the property market in South Africa.<\/p>\n","protected":false},"author":10,"featured_media":480903,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[29,26],"class_list":["post-528450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-absa","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/528450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=528450"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/528450\/revisions"}],"predecessor-version":[{"id":533366,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/528450\/revisions\/533366"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/480903"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=528450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=528450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=528450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}