CEO's Message Apr 2017
Category CEO's Message
Although many South Africans still seem to be focussed on political uncertainties, constrained budgets and a highly volatile rand, there is some light at the end of the tunnel when it comes to residential property. After a tempestuous 2016, there are not only predictions of an economic turnaround but also the beginnings of a recovery in the property market.
FNB’s latest Property Barometer may have noted declines in property transactions during 2016, but it also predicts that the volume of property transactions will climb by 0.7% in 2017 and the value of transactions by 2,25%. This is expected to escalate a little further in 2018.
This is exceptionally good news for Tyson Properties which has managed to record meaningful growth even during the toughest of times. We have grown by 70 % over the past 12 months and are adding an amazing 100 agents per year.
This growth – and future growth – is spread across a variety of price brackets. For example, our Cape Town franchise is currently concluding the paperwork on a prime Clifton apartment, the biggest residential transaction we have recorded to date.
At the same time, our recently opened Richards Bay franchise will continue our success in the more affordable section of the property market, offering a professional service to young professionals who are first time buyers as well as those in the buy to let market.
Another success story is Pretoria East where substantial commercial development has impacted positively on the residential property market. Right now, this market has extensive growth potential as there is a lot of vacant land available for development. A number of developers have seized opportunities in the Bronkhorstspruit area with a number of new developments taking shape along Lynnwood, Atterbury and Garsfontein Roads.
Author: Tyson Properties