This is despite the fact that there may be some dips in the capital growth of the property along the way, depending on economic trends. At present interest rates are relatively low and there are some good buys to be had.

As one cannot be entirely sure when the market reaches the lowest point, if you are in the market to buy and have the finance available then now is a very good time," she says.

Gauteng - Ronald Ennik, Pam Golding Properties (PGP) MD for the Gauteng region

Ronald Ennik, PGP's MD for the Gauteng region concurs: "Even if the market has not quite reached its lowest point this is still an excellent time to buy because you will be benefiting from reduced prices, which have been discounted by approximately 20%.

Buyers realise that with the lower interest rates they can afford to take up such opportunities and as a result we are seeing increased attendance at show days.

It is a fact that if you wait to try to catch the very bottom of the market you will most likely miss out - so right now for serious buyers it's more a question of deciding whether the property is suitable for your own personal accommodation needs and on your affordability and ready finance.

Research properties and prices in the area that is of interest - ask plenty of questions and find out by how much asking prices have reduced." Ennik says if you want to buy a home but think you should rent first and then buy, unfortunately the chances are that you may miss the best buying opportunity by being committed to a six month or one year rental. "When prices are down as is currently the case, it's relevant to compare what you would be paying in rental with the monthly repayments of a home loan.

Sandhurst can be rented at R70 000 per month.

With reduced prices and lower interest rates, coupled with the fact that you would own the property, it's undoubtedly better to buy as the repayments of the home loan should compare favourably with the monthly rental of such a property.

An additional factor is that you would immediately be able to start enjoying all the lifestyle and other benefits of owning your own home – even if it really only starts to appreciate in value in six months to a year from an investment perspective," says Ennik.

Cape Town - Dexter Leite, Rental Manager for Pam Golding Properties in the Cape Town metro areas

From a tenant's perspective there are various reasons why one may choose to rent as opposed to buy, and not related to affordability, says Dexter Leite, rental manager for PGP in the Cape Town metropolitan areas.

"Many people want the flexibility that renting offers, i.e. only being 'locked into' a property for a relatively short period of time. In addition, it's easier to extricate oneself from a lease and relocate - than having to sell before one can relocate. This makes the rental option ideal for contract workers hailing nationally or internationally.

"Many expatriates have been out of the country for an extended period and during their time away, their specific needs may have changed considerably e.g. financial status, marital status or place of employment.

They may also find that the South African cities they lived in previously have changed substantially with new infrastructure affecting commuting options, or new business hubs being developed where they may wish to work.

For these returning expats it can be beneficial to first rent for a term while they assess what their new requirements are, consider different suburbs where they may wish to settle and gain a feel for commuting times etc. Renting affords them the flexibility to make such decisions without pressure."

Leite says renting is also a good longer-term option for those who may be returning to the country but unsure regarding what they are going to do or where they are going to work.

For example, if there is a possibility that your career path may take you to another city, then it makes sense to first rent until you have a clearer idea of where you are going to settle. This also applies to those relocating to different cities within South Africa's borders.

For the owner or landlord the benefits are having an asset that appreciates over the medium to long term. The cost of the investment can be leveraged, enabling a larger investment with only a deposit required.

With good buys currently available, as stated, it is of course essential to do one's sums taking into account all costs, type of property in demand in a specific area, vacancies and so on," says Leite.

Boland and Overberg - Annien Borg, MD of Pam Golding Properties Boland and Overberg regions In conclusion Annien Borg, MD of PGP's Boland and Overberg regions comments: "Whether you rent or buy is definitely related to your current financial situation and how long you intend staying in the specific town or city. At present obtaining finance is a problem and one which has affected the entry of first time buyers in the market – for whom rental would now be the best option. However if you have cash you could pick up a property in a good area for a very reasonable price. At any time in the market, good or bad, you have to take a longer term view – at least five years or more if you wish to achieve good returns.

It's true that there are advantages to renting, but if you've done your homework and considered key aspects when buying a property such as location, condition of the property and possible costs of upkeep, and only purchase what you can afford, even allowing for deteriorating market conditions, it is more than likely that you will see a return on the investment you've made."