Property Market Trends: Average house prices and outlook for 2024

In the face of challenging economic conditions and high-interest rates, property prices continue to grow slowly. The current annual property inflation rate is around 2.41%*, with some outlying provinces like the Western Cape sitting at around 4.8%*. Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa expects there …

Value-for-money price bands in central metro housing markets

Aerial view of Gqeberha Faced with the rising cost of living, the rigours of loadshedding, and a constrained economy, it’s not surprising that many home buyers – particularly first-time home buyers – are seeking value-for-money residences in the more affordable price bands, says Dr Andrew Golding, chief executive of the …

Property market: Roundup and forecasts for 2024

The Rawson Property Group’s sales, rentals, commercial and finance specialists share their analyses of this year’s key trends and events and explore the most likely shifts to occur in 2024. Residential Property Sales “Residential sales have been under a bit of pressure for some time now, largely due to the rapid interest …

How much a solar power system can add to your home’s value

Installing backup power equipment like a solar system for your home could increase its value by as much as 8%, and there are several options for South Africans to pay off the costs over time. This is according to Only Realty general manager Megan Ladbrook, who said the company had …

WHY NOW IS THE BEST TIME TO BE A PROPERTY PRACTITIONER IN BRAKPAN

By Anne-Mare Pienaar Hello fellow Property Practitioners! Are you feeling a little down about the state of the property market in Brakpan? Well, cheer up because we have some good news for you – now is the best time to be a Property Practitioner in Brakpan! First things first, let’s …

Asking price calculations become ‘hyper-local’

Once you have taken the big decision to sell your home, the next most critical move is to decide the asking price. And that demands serious thought and attention, says Gerhard Kotzé, MD of the RealNet national estate agency group, because, notwithstanding the recent interest rate increases, incorrect pricing remains …

Despite interest rate headwinds, the residential property market remains resilient

The further increase of 75bps in the repo rate announced by the Monetary Policy Committee yesterday is disappointing for aspirant home owners requiring credit and existing home owners with mortgages, all of whom are already having to contend with the economic impact of severe load shedding, high fuel, and rising …

Happenings at the Property Law Committee meeting

The Law Society of South Africa’s (LSSA) Property Law Committee (the Committee) met on 7 June 2022 to consider an array of issues pertaining to its field of expertise. Some of the key issues considered were: Development regarding the Electronic Deeds Registration System The Electronic Deeds Registration Systems Act 19 …

Homeowners should prepare for rising interest rates

The Monetary Policy Committee (MPC) is set to meet again later this month and all signs point to yet another interest rate hike, with some even predicting a bump of 75 basis points. Experts advise South Africans to prepare themselves ahead of the July meeting to avoi.d falling behind on …