2018 was a challenging year for the South African property market, with negative real price growth in the residential property market and slowing market activity.

Today’s October CPI (Consumer Price Index) showed a slight acceleration in its year-on-year inflation rate, from 4.9% in the previous month to 5.1%.

The Firstrand economic team expects a 25 basis point interest rate hike this week when the SARB (South African Reserve Bank) MPC (Monetary Policy Committee) meets to deliberate on interest rates.

JSE listed Attacq Limited  in collaboration with JV partner Tricolt, announced today that phase one of Ellipse Waterfall, the first high-rise residential development within Waterfall City is selling fast, with sales totalling R420m in the first week.

Whether it be a commercial or residential property sale, every owner begins the anxious countdown to the months it takes to transfer the property to the new buyer and subsequently receive payment of their proceeds.

Getting your foot on the property ladder isn’t easy for first-time buyers.

Third quarter (Q3 18) statistics released by ooba, South Africa’s leading home loan originator, show that year-on-year from Q3 17 to Q3 18, the growth in the Average Purchase Price effectively remained static with a 0.1% increase. This continues the trend of negative real price growth (growth less inflation) in the residential property market.

Wednesday, 12 September 2018 13:10

South African millennials are buying homes

Millennials in South African have purchased homes in great numbers in recent years. According to statistics supplied by property group Lightstone, almost 330 000 millennials bought homes in South Africa between 2015 and 2017 and 70% of them were first-time homebuyers.

The fourth and final phase of the popular Willow Wood Office Park, developed by Heartwood Properties, in Fourways in Gauteng, is currently under construction and due for completion in March next year.

For first-time buyers, property co-ownership may be the easiest and most affordable way to enter the property market.

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