, activity recorded during the second quarter of 2022 has been described as"unprecedented" in the latest RE/MAX National Housing Report.
The number of transfers, both bonded and unbonded, in the second quarter amounted to 77,880 compared to 52,241 in the previous quarter, indicating a quarter-on-quarter rise of almost 50% and a year-on-year increase of 32%. The number of sectional title units sold countrywide grew by 50%. Although encouraged by this growth in the second quarter, Goslett noted that further interest rate hikes"will have a more noticeable effect" on the housing market's activity going forward.. National year-on-year house price inflation was at just 4.46% in the second quarter, according to the RE/MAX report, and has decreased consistently over the past year.
Properties in the Western Cape continue to draw high levels of interest and, for the first time, fill the National Housing Report's top-five searched suburbs list. Previously, while suburbs in and around Cape Town were prevalent in this list, Fourways, Faerie Glen, and Glenvista – all in Gauteng – were also suburbs of particular interest.
Headline should be: inequality is booming in South Africa