Right House. Wrong Price. No Sale.

The latest FNB Property Barometer offers an important message for North Coast homeowners: the market is moving, but buyers remain selective - making accurate pricing more important than ever.

The latest FNB Property Barometer suggests that South Africa's residential property market is moving in the right direction - but that does not mean every property will sell simply because it is on the market.

House prices continue to rise, with the FNB House Price Index recording annual growth of 4.9% in August 2026. However, this represents a moderation from 5.3% in July, and the stronger growth rates recorded earlier in the year. FNB describes a market where prices remain supported, but broad-based buyer demand remains constrained.

For the North Coast, the picture is particularly interesting. KwaZulu-Natal recorded a residential market activity rating of 5.8 out of 10, with homes taking an average of nine weeks and one day to sell. FNB notes that activity in the province is likely being supported by tourism-related demand on the North Coast.

Nationally, the average time a property spends on the market has improved to 10 weeks and one day - the fastest selling pace recorded since 2022. On the surface, this is encouraging. But there is another statistic sellers should take seriously: around 75% of transactions are still taking place below the original asking price, with the average discount at approximately 8%.

This is where pricing becomes critical. A property that enters the market significantly above its realistic market value may attract attention, but attention does not necessarily translate into offers. Over time, an overpriced property can lose the valuable momentum that comes with being a new listing, while buyers become increasingly aware that the seller may eventually need to adjust expectations.

The FNB data also highlights a clear divergence between price segments. Properties above R3.6 million are currently recording some of the strongest market conditions, with an activity rating of 6.3 out of 10 and an average selling time of nine weeks and four days. FNB attributes this resilience partly to financially stronger households and the greater role of cash buyers in this segment.

The middle market, however, faces greater pressure. Household income growth is not keeping pace with property values, while debt-servicing costs remain elevated. This creates a particular challenge for mortgage-dependent buyers and limits demand growth in the middle and lower portions of the market.

For North Coast sellers, the lesson is straightforward. The market is active, but buyers are discerning. A well-presented property, positioned at a realistic price from the outset, has a better opportunity to convert interest into a transaction.

In today's market, getting the price right is not about leaving money on the table. It is about understanding where the market is, where buyers are, and positioning your property so that the right buyer can recognise its value.

Because ultimately, it may be the right house - but if the price is wrong, there may simply be no sale.