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Property market in KZN is sustainable despite floods: Expert – SABC News

Property expert Patrick Davison says the property market in KwaZulu-Natal is resilient and buyers are not deterred by the recent floods in the province.

Last month’s floods left a trail of destruction in KwaZulu-Natal.

More than 440 people died and thousands were displaced.

Even more floods have hit parts of the province over the past weekend.

Davison says the real estate events have not dampened the property market in the province.

He says: “Even after the looting last July, we expect quite a dramatic difference in the market, … KZN is also very opposed to the shooting in July. We did not see any dramatic change in the market. I think that many of us expected it to happen, but it did not actually happen.I do not believe that in the long run it will have a major impact on the real value of the individual properties.

Davison urges potential buyers to conduct their research in depth before making a promise.

He says: “They need to inspect the property and I find that even more important now. They need to inspect for visible damage that the property may have caused, even if it is leaking roofs, but of course decline has been one of the major consequences of the flooding on buildings.

“That they have to look at the telltale signs of subsidence. Cracks that form, maybe foundations that sag. Every washing machine and of course support walls is a different factor that they have to inspect. So I’ll suggest they just a little bit. go ahead, maybe get a professional builder or an engineer to inspect the property, just to make sure it’s in perfect condition for them to buy, “Davison adds.

VIDEO: Assess the extent of the damage in the Bluff area, south of Durban:

Property market in KZN is sustainable despite floods: Expert – SABC News

Source link Property market in KZN is sustainable despite floods: Expert – SABC News

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