Though some people are expecting property prices to come down in the wake of the recent interest rate hike and a Reserve Bank warning of possible further increases, they may not in fact do so, chairperson of Seeff Property Services, Samuel Seeff, said on Thursday.

"While certainly the market will be slower, if sellers can continue to hold on in a higher interest rate environment, prices won't come down," he said.

He said he believed the market would cool down slightly, and until people were more assured of where interest rates were going, and there was less rand volatility, buyers were going to be more picky.

"Overvalued properties are not going to sell in this market. There are buyers out there, and transactions are still and will still be happening, but they will be at what is considered to be market value, and not at over-inflated prices," he said.

Sapa

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