Midwinter review of the property market along the Garden Route

Midwinter review of the property market along the Garden Route

Demand for property remains very strong. This, despite the fact that June is traditionally the quietest time of the year with the internationals back at home enjoying their summer. This is of particular relevance to Knysna where one in three buyers is an international.

From Mossel Bay to Plettenberg Bay, large scale developments are mushrooming on an almost daily basis. Wilderness alone will be getting another commercial centre in the Village and another Golfing residential estate is being planned close to and overlooking Swartvlei. Fortunately there is tight control on every development in the area with regard to environmental impact studies. It would be a tragedy if the beauty and appeal of the area were to be destroyed by greedy and unsympathetic developers.

Looking towards the second half of 2003, there is no doubt that lower interest rates will heighten interest in the property market. This comes at at time when the market was starting to cool. This slowdown was caused by stock shortages and buyer resistance to high prices. Speaking to local estate agency manager Tim Kirby, he said, " We anticipate heightened interest towards the end of the year, particularly as the rich and famous pour into the Southern Cape for the prestigious President's Cup. We have every reason to believe that the property market is set to continue on its upward course."