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 …

New divorce ruling could affect prenups in South Africa

  The Supreme Court of Appeal (SCA) says separate agreements from an antenuptial contract – or prenup – are valid and enforceable. A prenup governs the matrimonial property system between two spouses and is entered into before a marriage concludes. However, there was recent confusion regarding the validity of separate …

New Property Practitioners Act provides better protection for all

By Peter Mennen, Head of Legal at TPN Credit Bureau The new Property Practitioners Act (PPA), which came into effect on 1 February 2022, has been designed for increased support and regularisation of the sales and rental industries and other immovable property professions. Through updated processes, better clarity and new administrative …

Signed, sealed but not delivered – Can a seller unilaterally remove fixtures from a property upon moving out?

  Excitement is running high as you have just signed an offer to purchase your dream house. Perhaps it was the quirky water feature that caught your eye as you walked through the lush, well-kept garden or maybe the thought of spending long summer afternoons under the pergola. Whichever it …

Use this time to draft a Will & do Estate Planning

    At the moment, most of us are working from home until such time as the lockdown (or any extension thereof) is lifted. While inconvenient, it does present the perfect opportunity to get your personal affairs in order, including Estate planning and the preparation of a Will. Why should …

Is your Last Will and Testament valid and up to date?

  Drafting a will is something that everybody should prioritize since we never know what the future holds. We are all aware of the saying ‘nothing is certain except death and taxes. Morbid as it might sound, it’s never a convenient time to start thinking about what will happen to …

Home repossession

What is home repossession? If a borrower defaults on payment and money needs to be recovered by the credit provider, the credit provider is entitled to cancel prior agreements made on the house to recover the funds owed. What is the process? The bank gets in touch with the debtor to discuss …

Factors you should never hide from your real estate agent

Effective communication is a fundamental factor within successful relationships. This is especially true for the relationship between the prospective homebuyer and their real estate agent. An open communication channel is imperative for an agent to fully understand what a buyer wants and needs. Yet, according to Regional Director and CEO …

What land expropriation without compensation will mean for homeowners in South Africa

Members of parliament met last week to discuss the long-awaited draft bill on land expropriation without compensation. With the draft bill set to be published for public comment in the coming weeks, there has been some fear-mongering on social media platforms suggesting that the proposed law will lead to Zimbabwe-like …

Personal Injury? Talk To Us…

If you’ve sustained an injury in a Gauteng accident, we can help to make sure that you are fairly compensated. Contact us today to schedule consultation and learn about the benefits of filing a personal injury claim. We will explain your rights as an accident victim and answer any questions …

The risky business of a business rescue practitioner

By Rico van der Merwe and Melandie Buitendag The concept of business rescue was introduced into South African corporate law through the enactment of ch 6 of the Companies Act 71 of 2008 (the Companies Act) and is similar to judicial management contained in the old Companies Act 61 of …

Is it worthwhile buying a fixer-upper?

Purchasing a fixer-upper can be an extremely beneficial financial endeavour. However, only if the buyer has taken the time to do their research and followed the right procedures to ensure they are making a sound investment decision. © victor zastolskiy – 123RF.com Irrespective of the kind of property the purchaser …