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Monday Oct 01, 2018

PROPERTY INSIGHTS: Desire to rent may become more widespread, says expert

A desire to rent may become more widespread in the near term, and rental home supply could be more constrained… but will this lead to a stronger rental market? Mildly at best, perhaps, writes John Loos, FNB Property Sector Strategist.

For some years, we have been expecting slightly more in terms of residential rental market strength, and this to date has not materialised on a national average basis.

Of late, however, our housing market surveys have begun to point to a possible greater desire to rent amongst a certain group, as well as possible greater rental home supply constraints approaching.

Simplistically, this should lead to lower vacancies and stronger rental inflation. But will this be the case in the currently weak economic environment?

Read more on Property360...

John Loos
Property360.co.za

Safe haven by the seaside

Agents report that many people are abandoning big cities to raise their children in resort towns

More and more families are moving to holiday towns to escape the stressful hustle and bustle of city life. Some of the more popular towns for permanent residents, many of whom are middle-aged buyers with school-aged children, include Hermanus, Plettenberg Bay and Langebaan.

It comes as no surprise that people are moving to the coastal towns for a better quality life, says Seeff Property Group chairman Samuel Seeff. And it is not just older people who are flocking to the coast, but younger buyers, especially families.

These buyers are looking for wholesome lifestyles and especially want to escape crime, poor service delivery, stress, and traffic congestion. Most of the coastal towns have excellent infrastructure, and many are close to bigger centres, making them excellent commuter towns.

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Bonny Fourie
Property360.co.za

Convert to survive low growth

Private companies, investors meet demand for housing by turning from commercial to residential

Widespread office-to-residential property conversion is taking place in Durban as the demand for housing in the city grows. In particular, student accommodation and entry-level to middle-income homes are needed, says Yianni Pavlou, company principal at Portfolio Property Investments.

Prominent private companies and investors are driving the trend, he says.

The reasons behind these conversions include:
Shortage of housing supply.
Better rental yields in the residential space compared to office.
Increased migration to Durban.

Furthermore, the regeneration of areas drives up the residential interest in them and the global trend of densification has finally started to take hold in Durban. The volume of such conversions is definitely increasing and expected to continue on this upward trajectory, Pavlou says.

Read more on Property360...

Bonny Fourie
Property360.co.za

High prices drive Capetonians to northern suburbs

Cape Town’s northern suburbs were once out-of-favour, but recently they have become a favourite flavour

Former city dwellers and even Atlantic seaboard and southern suburbs residents are increasingly looking for homes in Cape Town’s northern suburbs as they search for more affordable property and better value for money.

Quality of life and location are also among the reasons these previously out-of-favour suburbs are now attracting increasing numbers of semigrating residents. Invariably it comes down to either a desire for a more favourable location, better investment value compared to other suburbs, or a combination of the two, says Johannes van den Berg, principal and sales director at Just Property N1 City.

Read more on Property360...

Bonny Fourie
Property360.co.za

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