Property News

The uncertainty in South Africa’s property market ahead of this pivotal general election is not a cause for concern, pre-poll economic jitters are a common thread of elections worldwide and invariably the market bounces back fast. This according to High Street Auctions Director Greg Dart, who says there’s a rhythm to election cycles well known to the global property sector, and to which it adapts...

Many sellers (and buyers) find themselves in murky waters around understanding their rights and obligations in the property market. When it comes to selling your property, there are certain disclosures you are obliged to make, even with voetstoots, failing which, you could be accused of misrepresentation and face a claim for damages from a disgruntled purchaser. “The Consumer Protection Act (CPA) is...

Ever increasing property prices in Cape Town may be causing big broad smiles and joy for those selling, but increasingly, local South Africans are getting left behind and before not too long, they may not be able to afford housing in the mother city.The current situation in Cape Town beggars the question: where does that leave people who cannot pay hefty prices just to secure a roof over their heads?A...

Property deposits have sky-rocketed in KwaZulu-Natal, according to Jackie Smith, head of Buyers Trust, a subsidiary of ooba.KZN went from having the fifth highest average deposits in Q1:2023 to having highest average deposits in Q1:2024 at an average size of 12.8% of the purchase price.Following closely behind is the Eastern Cape, with an average deposit size of 11.2% and Mpumalanga, with an average...

South Africans are already feeling the heat of the cost of living crisis, with food prices soaring and with electricity increasing as well.Homeowners could spend up to 60% more on their electricity bill in winter as a result of the triple threat of winter rates, the implementation of new Eskom electricity tariffs for 2024/2025, and an increase in energy demand during the cold months.This is according to...

If you are experiencing issues with getting your property off the market then you should consider renting it out instead. High interest rates may deter buyers from buying property which means that sellers will have to deal with their properties staying on the market for longer. This may pose a dilemma for those who want to move while those who are who are struggling to keep up with their bond repayments...

If you are selling your property and finding it extremely difficult to hook a buyer you are not alone.According to the FNB Residential Property Barometer and the Lightstone Residential Property Index, residential property prices are stagnant in SA.The FNB House Price Index showed just 0.6% growth year-on-year in January.In terms of the growth of house prices per province, Lightstone’s latest data from...

When you are selling your property your number one priority should be full disclosure of any flaws in the property or there could be serious consequences down the line.According to Arnold Maritz, Co-Principal of Lew Geffen Sotheby’s International Realty, since the Property Practitioners Act came into effect in February 2022, it’s become harder for sellers to hide behind the ‘voetstoets’ clause.This...

New data from property group Re/Max has shown that more single women are purchasing property than ever before.According to the research, specifically more black women are breaking traditional gender roles and are embracing their autonomy by purchasing property on their own.In SA, a total of 17,854 solo women buyers worked through bond originator, BetterBond, in 2023 compared to 16,858 solo male...

When you are selling your property your number one priority should be full disclosure of any flaws in the property or there could be serious consequences down the line.According to Arnold Maritz, Co-Principal of Lew Geffen Sotheby’s International Realty, since the Property Practitioners Act came into effect in February 2022, it’s become harder for sellers to hide behind the ‘voetstoets’ clause.This...