On the homefront ... the importance of community

Being part of a community creates a sense of belonging and fulfils an important function in any society. It gives people opportunities to connect with their neighbours and engage on shared issues, but it also helps people feel safe and secure.

Never has a sense of community proved to be more important than with the recent events in KZN and Gauteng. While Cape Town was fortunately sheltered, it has highlighted the critical role that local community groupings played in protecting their communities, properties and businesses.

For the past few years neighbourhoods and communities have come together to form various groupings, from Neighbourhood Watch Organisations to assist with security to Rate Payers' Associations to lobby local municipalities on neighbourhood matters. More recently, some neighbourhoods are taking charge of cleaning and beautifying their areas, especially where service delivery is lacking.

Local WhatsApp Groups and Neighbourhood Watch and Patrols have become very necessary and if you are not yet a member, please join today!

From a property perspective, community involvement is the way of the future. Looking after the neighbourhood is important as it affects the demand for an area, and the prices that buyers would be prepared to pay for property in the area. This is well demonstrated in the Cape Town property case study with the market holding up well and buyers from other areas continuing to flock to the city.

FNB's mid-year property trends show that liquidity in the residential real estate market remains intact and activity is still at the best levels in three years as buyers and sellers continue to take advantage of the favourable market conditions.

Bank data shows that mortgage lending is now at the highest levels since 2007 while the deposit requirements are at the lowest making for splendid buying conditions. The interest rate looks set to remain low with the expectation that should a rate hike come in the latter part of the year, it will be fairly benign.

It is a great time for sellers as buyers are able to view. A Sole Mandate is always the best way to go if you are serious about selling. Be sure though to choose Seeff to get the best advice and insight into the local market.

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