Property owners under pressure to sell should do all in their power to hang on a little longer.

This is the advice of Young Carr, CEO of Aida National Franchises, who confidently expects that the market will turn for the better towards the middle of the year.

"The realistic view is that economic pressure will ease shortly: Interest rates are set to come down even further, the latest economic figures point to lower inflation, and fuel prices are also heading south. Not only will this put extra money in consumers' pockets, but it will also strengthen consumer confidence, which will have a significant impact on the property market."

Carr adds, however, that the next few months offer great opportunities for investors. "There is very good value out there right now, and price growth is likely to escalate once the cycle turns."

Young says much of this buyer interest stems from the prospects for the local property market that will flow from the country's hosting of the 2010 Soccer World Cup. "We have seen increased interest from European buyers and investors who are coming to scout for property opportunities.

www.property24.co.za

06/01/2009