A dramatic upsurge in property groups' sales figures during the last six months of last year is indicative of a positive performance by the housing market in 2010.
Although experts are relieved that one of the most difficult years in the property industry is over, they are still cautiously optimistic about the coming year.
It will not be heaven on earth, with single-digit growth of 8% in house prices predicted for the whole year, says John Loos, property analyst at FNB's home loans division.
"It has to be kept in mind that the growth will occur from a low base and there is still an oversupply that needs to be mopped up."
Samuel Seeff, chairman of Seeff Properties, says the year holds good prospects, among which are an increase in the demand for housing, a rise in sales and a conservative increase in house prices -provided that the banks keep their doors open for financing.
He says Seeff had its best performance last year since March 2008. "The group's July 2009 figures were 30% better than those in July 2008."
Rob Setfanutto, principal at Sothbey's International Realty on the Atlantic Coast, says the group's turnover in the third quarter of last year was equal to the entire 2008's turnover.
Adrian Goslett, assistant regional director of Re/Max Southern Africa, says the group's turnover for 2009 amounted to R1bn.
He says one of the most important factors in the improvement in the housing market is the optimism of the SA public.
He says the coming World Cup Soccer tournament will be an opportunity to display SA to the world. "If we market the country right, fantastic foreign investing opportunities will follow in future." – Elma Kloppers, Sake24
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