The results of the final quarter of last year paint a promising picture for property market performance in 2025.
“It seems as though the impact of the rate cutting cycle, which started in September last year, is starting to reflect in how the local housing market is performing,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
After contracting in the previous quarter, the overall property market is now making a recovery, growing by 0.33% compared to the same quarter last year.
"Despite the overall market growing by just 0.33% last quarter, our RE/MAX network has surged ahead – with a 16.33% increase in registered sales value quarter-on-quarter and a 7.03% rise compared to last year. This performance truly highlights our strength and the trust our clients place in us,” says Goslett.
“Year-on-year, our network is also up by 11.39% in reported sales, which paints a promising picture of what Q1 2025 might have in store for the local property market,” says Goslett.
PROVINCIAL & SUBURB TRENDS
The Western Cape continues to be one of the most desirable provinces, claiming four of the top five positions for the most searched suburbs on remax.co.za.
Top 5 most searched suburbs on remax.co.za:
1. Bryanston, Gauteng
2. Rondebosch, Western Cape
3. Parklands, Western Cape
4. Claremont, Western Cape
5. Gardens, Western Cape
Across the board, RE/MAX has a higher average house price than the national average. The average active listing price on remax.co.za in Q4 2024 is R2,950,093.
Unsurprisingly, the Western Cape also continues to be the highest priced province at a provincial average of R1 730 225. This quarter, KZN, with a provincial average of R1 248 923, edged out Gauteng (R1 065 800.11) to secure second place.
“Overall, Gauteng is seeming to be the slowest to react to the interest rates drops. It will be interesting to see how the province recovers in the first quarter of 2025,” Goslett noted.
Final thoughts
“As the interest rate environment continues to shift, the positive trajectory of the property market could further strengthen in the coming months, presenting opportunities for buyers, sellers, and investors looking to navigate the evolving real estate sector. Those who want to take advantage of the slow growth we’ve previously experienced should act now before the national property prices make a full recovery,” Goslett concludes.
To find out more about the unique trends that are emerging within your own local real estate market, Goslett suggests setting up a free appointment at your nearest RE/MAX Office.
