How long it takes to sell a home in Joburg, Cape Town and other major cities right now
FNB’s latest estate agent survey shows a noticeable shortening in the average time of homes on the market – pointing to a local housing market possibly starting to strengthen in terms of housing demand relative to supply.
However, a regional breakdown points to very different housing markets.
The strongest major regional markets appear to be found in Gauteng, most notably the Tshwane Metro region, which has by far the lowest average time of homes on the market of late, the lender said.
By comparison, the three coastal major metros are relatively weak, especially Ethekwini and Nelson Mandela Bay, while the once strong City of Cape Town also appears to have cooled off, FNB said.
Source: businesstech.co.za
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