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Increased housing demands in 2013

Dec 13, 2013 852 view(s)

Overall, planning and construction was seen to be increasing by 3% to 4% compared to the same period last year. Flats and townhouses proved to be the best sellers this year.


Smaller homes were the most demanding in the residential property sector in the initial 10 months of this year - said by ABSA, home loan division on Thursday.


“In regards to the growth of the residential property sector flats and townhouses were best performing till October this year,” said Jacques du Toit, a property analyst in a statement.   


Du Toit further added that there were more chances for new building construction due to factors such as economic outlook, household finances, consumer confidence for building new houses.


The increasing demand for new small sized houses, higher density flats and townhouses clearly states that with changing lifestyles the  housing and mortgage finance are also affordable against the ongoing household finances.

 


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