PROPERTY NEWS - If you are currently listing your property for sale, it may be interesting for you to know that the ever-increasing fuel price could impact you.
Although the connection is not direct, the rising prices and pressure on household finances has resulted in house price growth slowing.
To give further context, Dr Andrew Golding, who is the chief executive of the Pam Golding Property Group, discussed the way that petrol prices directly contribute to the way we work and live.
In the current market, there has been a large increase in people looking to find properties that fit within a work, live, play lifestyle. This means that there is big interest in multi-use developments that offer office space, retail opportunities and residential facilities. Properties that are also within close proximity to business hubs and offer leisure opportunities on their doorstep are also gaining a lot of attention.
Another factor that could gain your property some attention is if it is on a key transport corridor. This allows for easy commutes via road, rail or air.
The cost of travelling to and from the office is a major consideration at present due to the rising fuel costs and the property market has taken a knock due to this. In fact, stats from FNB and Statistics South Africa have shown that price growth has slowed over the last three years, coinciding with the increased price of petrol.
Electric cars could decrease pressure on consumers in coming years though, with the likes of the Nissan Leaf as well as the BMW i3 and i8 showcasing that change could be on the horizon.
For now, it may be a good idea to play into some of the above needs if you want to make your property the most attractive option on the market.
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