The announcement by the Monetary Policy Committee meeting that the repo rate remains unchanged is surely what is needed to help fuel increased activity in the residential property market, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

Building activity with regard to new private sector-financed housing in South Africa remained much subdued in the first eleven months of 2016 compared with the corresponding period in 2015, based on data published by Statistics South Africa.

In the 4th Quarter 2016 FNB Estate Agent Survey, buy-to-Let demand was a little slower than the prior quarter, keeping the level of recent years “moderate” by pre-2008 boom time standards, and our estimates point to little in the way of growth in secondary property ownership.

Robert Broom is one of the main arteries that runs through Krugersdorp in the Westrand, crossing through Noordheuwel, Rangeview and past the Sugarbush Estate.

The FNB House Price Index for 2016 as a whole rose by 5%, slower than the 7.2% and 6.5% for 2014 and 2015 respectively.

The residential property market has had its ups and downs during 2016 as the economy stagnates, the Reserve Bank started hiking interest rates again and consumers struggle with household debt-to-income.

Cape Town's upmarket suburb of Constantia is poised to get a new shopping centre and two traffic circles.

New R100m housing project in Walmer with at least 120 units and offering investment opportunities will address a rental accommodation shortage.

While political and economic uncertainty is likely to continue across the globe next year (2017), it is hoped that local economic growth will be modestly stronger, which will be more supportive for the South African housing market, says Dr Andrew Golding, CE of the Pam Golding Property group.

The FNB/BER Building Confidence Index rose to 40 points in 4Q2016, its best level in 12 months.