Property trends - Discovering the how and why behind semigration
Category News
Most of us living in South Africa are fully aware of the concept of immigration. Many of us have friends and family who have made the jump themselves or have returned seemingly more experienced and prosperous.
One concept that might not enter into common parlance is the act of "semigration'', which is a move done within the borders of one's country rather than beyond.
Why semigration
With a vast difference in services and resources - the grass may just be greener on the other side.
There are various reasons why South African's semigrate from one part of the country to the other. Chiefly among them being attempts to expand upon one's career or search for a picturesque home to spend your golden years. People are semigrating to the Western Cape and Gauteng in particular with retirees choosing to leave Gauteng for the Western Cape and young adults doing the complete reverse for work and career purposes.
According to FNB's financial and commercial property strategist, John Loos. Provinces like Gauteng and the Western Cape continue to see better economic growth with better access to resources than the rest of the nation and will continue to do so as time goes by. This presents a snowball effect as more skills are attracted away from other areas.
However, not everyone is following this trend for the same reasons. Another popular reason is based on more personal desires such as moving away from the hustle and bustle of city life to safer, smaller and more scenic places to ease stress levels.
Agent Q&A
Ahead, we speak to our recently "semigrated" agent in the field, Colin Cloete and gain insight into the processes of not only moving to a new town but how an experienced real estate agent can adapt and sell in a new environment.
Q: Give us a brief description of yourself and history as a real estate professional.
A: I registered as an intern agent and wrote my Zimbabwean Real Estate exams when I was 19. I then moved to SA in 2006 to do my BCOM & majored in Business Management and Economics at Rhodes University. After getting my degree I worked in the marketing world for a few years. Before ending up buying and selling properties and working alongside Regan Harris in 2014 in Johannesburg. In 2016 he asked me to join Hamilton's Property Portfolio.
Q: Moving from one distinctive city to the next, what are the major differences between the two markets?
A: The most notable difference between the two markets is that Joburg is where the money is made, Cape Town is where the money is spent. In all seriousness, Joburg is a working city. Cape Town is a lifestyle.
Q: Are there any major hurdles to entering a new market?
A: Any change, no matter how big or small, brings about challenges. It is how you deal with the challenges that separates the results. It is a natural human instinct to be scared of change because we are taken out of our comfort zone.
An amazing book that helped me grasp the concept of change in the most simple way, "Who Moved My Cheese - DR Spencer Johnson". A hurdle which I have experienced when entering the Cape Town market is the importance of building a brand image and reputation which stands out amongst a very competitive pool of agents.
Q: As someone who has moved provinces yourself, what are your thoughts on the concept of Semigration as a national trend?
A: I did it myself so I understand why people want to do it. I think that it creates different trends and alongside Covid 19, it has had varying effects on the market. At the end of the day, it is the fundamentals of a market being Economics 101, DEMAND vs SUPPLY. Real estate is like any market, it is cyclical.
Q: What are the things you love about your new hometown?
A: It is almost a different world down here. I think what I love most is how healthy it is. Everyone lives to be outdoors, on the promenade, trail running, hiking, paragliding... But most of all, I love how dog friendly the city is and that my dog goes almost everywhere with me. I do find everyone really proud to live here, it's amazing. People always pick up litter on their walks etc. I can say confidently that Cape Town is the city that works.
Q: Apart from the obvious scenic features, how does the CPT vibe differ to that of JHB?
A: JHB is definitely faster paced. CT is far less stressful! That is the bottom line. I do still miss aspects of JHB but there is so much cross pollination of clients and I am still constantly in touch with our JHB office. They will always be family.
Q: What distinctive traits have you learned from the JHB market which has helped you in CPT?
A: The fundamentals of being a good agent never changes but I think having sold in JHB where very few properties have the views that CT can offer, you have to be able to sell a home to someone and for that you need to listen to their needs and understand them as people.
Q: Can you give any insight to prospective agents who are entering into an entirely new location and market?
A: Do your research and know that it won't be a walk in the park. It will take time to truly establish your name and personal brand.
Read our previous article here: https://www.hamiltons.co.za/news/the-digital-boutique-experience/
Contact Hamiltons Property Portfolio for all your buying or selling requirements:
Johannesburg (Head Office): 011 463 0155
Cape Town: 021 418-0328
Garden Route: 044 050 3295
Eastern Cape: 076 927 7787
Or email to reception@hamiltons.co.za
Author: Lisa