How school holidays affect the property market

Private Property South Africa
Press

The mid-year school break is upon us which means that traffic is going to be a whole lot lighter for the next three weeks. But, with the highways clearing out, will the housing market experience a similar decrease in traffic?

According to Adrian Goslett, Regional Director and CEO of the largest real estate brand in the region, the reported sales figures for RE/MAX of Southern Africa reflected a minor drop during June in both 2016 and 2017 and took a corrective curve in the months leading up to the end of year break where figures take another shallow dive.

“It is well known that, along with most other corporate industries, the property market experiences a slow-down over the annual December leave period during which time both our agents and many buyers and sellers take vacations. It seems plausible that the June school holidays might have a similar effect on property sales, as some families prefer to schedule their vacations during June rather than December to avoid peak season costs and over-filled venues,” Goslett suggests.

“Beyond this, many of our network – 60% of which are female – are working mothers. Because of our truly entrepreneurial business model, these working mothers are allowed the flexibility to be in control of their own schedules, allowing them the freedom to take some time off to spend with their children during the school break if they so choose,” Goslett explains.

See more: How to grab a buyer's attention

However, for those that are selling over the school holidays, there are a few challenges to bear in mind. “Keeping the home tidy for viewings can be tricky when your children are at home all day. Try and give yourself enough time to make the home presentable before viewers come over and be sure to maintain open communication with your real estate professional so that they know not to arrange last minute viewings over this period,” Goslett concludes.

Read more: Top tips for achieving instant show-day shine

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