Episode 5 | Property Perspective with Etchells & Young
Is there really a perfect time to buy or sell property?
In Episode 5 of Property Perspective on 919, Harry looks at the factors that influence the property market, from interest rates and supply and demand to seasonality, location and buyer sentiment.
He also shares practical advice for buyers trying to understand what they can afford and sellers deciding how to price and position their property in a competitive market.
In This Episode
Harry explores how changing market conditions can affect buyers and sellers and why the right time to make a move depends on more than a single statistic.
Harry discusses:
How property markets move through different cycles
The difference between a buyer's market and a seller's market
How interest rates influence affordability and demand
Why location still matters, right down to the street or estate
Whether seasonality affects buying and selling
Why buyers should understand their affordability first
Why sellers need to price realistically in a competitive market
How a comparative market analysis can help establish value
Watch Episode 5
Property Perspective airs weekly on 919.
What Is a Buyer's Market?
Property markets are driven by supply and demand.
When there are more properties available than active buyers, buyers have greater choice and may have more room to negotiate. When demand outweighs the available stock, sellers can find themselves in a stronger position.
Harry explains that market conditions change over time, which is why there is rarely one universally "perfect" moment to buy or sell.
Is There a Best Time of Year to Buy or Sell?
Seasonality can influence how active buyers and sellers feel.
Harry explains that spring often brings increased buyer activity as homes and gardens present well and people become more motivated to make a move.
But quieter periods can create opportunities too. A property that has been on the market for some time may have a more motivated seller, potentially giving an astute buyer greater room to negotiate.
The best timing therefore depends on your own circumstances as well as the conditions in the market.
Location Is More Than Just the Suburb
There is no single Johannesburg suburb that will be right for every buyer.
Harry explains that buyers need to consider what is driving their move. This could include proximity to work, schools, lifestyle requirements, security or whether they are upsizing or downsizing.
Even within the same suburb, values and demand can differ between streets, complexes and estates. A well-run estate with strong security, backup power, water and useful amenities may appeal strongly to buyers regardless of the wider suburb.
Advice for Buyers
Before starting the property search, Harry recommends understanding your finances.
Pre-qualification can help establish what you may realistically afford and reduce the risk of finding the right property only to discover that the required finance is not available.
Buyers should also look beyond the purchase price. Transfer costs, rates, levies, maintenance and other ongoing expenses all need to form part of the affordability calculation.
Once you understand your budget, you can research areas and properties that realistically meet both your financial and lifestyle requirements.
Advice for Sellers
In a market where buyers have plenty of choice, unrealistic pricing can work against a seller.
Harry recommends understanding what similar properties are actually achieving rather than simply looking at the asking prices of other homes currently on the market.
Sellers also need to think about presentation and what differentiates their property from competing homes.
Features such as reliable backup power, water, fibre and good overall condition may help a property stand out, but Harry cautions against spending heavily on improvements simply because the property is about to be sold.
How Do You Know What Your Property Is Worth?
Looking at neighbouring asking prices can provide some context, but asking price and selling price are not the same thing.
Harry explains that a qualified property practitioner can prepare a comparative market analysis using information such as recent registered sales, competing properties and local market conditions.
This provides a more informed basis for deciding how a property should be positioned when it goes onto the market.
A Key Takeaway
The right time to buy or sell is ultimately personal.
Market conditions matter, but so do your finances, your reason for moving, your preferred area and what you need from the next property.
For buyers, knowing what you can afford and doing your research puts you in a stronger position.
For sellers, realistic pricing and understanding the local market are just as important.
What Is Property Perspective?
Property Perspective is Etchells & Young's weekly property segment on 919.
Each episode explores a different aspect of property - from rentals and property management to buying, selling, legislation, sectional title living and the everyday questions property owners and tenants face.
Follow the series as we unpack more of the issues that matter to Johannesburg property owners, buyers, sellers, landlords and tenants.
Thinking of Buying or Selling?
Whether you need help understanding what your property may be worth, deciding how to position it in the market or finding your next home, local market knowledge matters.
Speak to the Etchells & Young team for professional property advice across Johannesburg's northern suburbs.
