Estate agents reported a surge in positive sentiment with activity ratings reaching a three-year high in 1Q25, according to the latest (May) FNB Property Market Report. However, market outcomes are still modest it found, as reflected in slow transaction volumes growth and slightly longer-selling times (from 11 weeks in 4Q24 to 12 weeks and one day in 1Q25).
Deeds office data indicates that transaction volumes remain significantly (approximately 16%) below pre-pandemic levels (4Q19) suggesting a protracted recovery in market activity, FNB senior economist Siphamandla Mkhwanazi says.
Mkhwanazi says the divergence between positive sentiment and market outcomes suggests lingering caution among buyers, potentially due to the ongoing impact of the pandemic-induced cost-of-living crisis, further exacerbated by global uncertainty.
Many prospective buyers, particularly in the affordable segments (
