Online property marketing key to getting property sold
Steeple - South Africa
Recent research from Stats SA indicates that almost half of South African households have at least one member with access to the internet. This means that where you list your property online, and how you market your listing digitally, could mean the difference between selling your home or wringing your hands in frustration.
In the UK 98% of all buyers browse for property online. The percentage in South Africa is lower but is increasing rapidly so estate agents need to understand that online property marketing is paramount.
One agency that has fully embraced the new age of property marketing is Steeple, which is unsurprising considering that it is South Africa’s first online real estate agency operating on a low commission basis.
Online property marketing
Residential building statistics
Absa - South Africa
Strong growth in residential building activity on a segment level The first seven months of 2015 saw improved levels of building activity with regard to new private sector-financed housing in South Africa (see explanatory notes), based on data published by Statistics South Africa. However, growth in activity levels in both the planning and construction phases of new housing was largely segment driven up to July this year.
The number of new housing units for which building plans were approved was up by around 5% year-on-year (y/y) to more than 35 000 units since January, with strong growth of 15,5% y/y recorded in the category of flats and townhouses. The two house-related segments showed very little movement in the first seven months of the year compared with a year ago.
Growth in the number of new housing units constructed was recorded at 6,3% y/y, with a total of almost 22 000 units built in the seven months up to July. This growth was largely the result of a relatively strong improvement in new houses built to the tune of 19% y/y to a total of 15 951 units. The number of new flats and townhouses built was down by 17,3% y/y in the seven-month period, but with these housing developments normally taking quite some time to complete as a result of the extent of construction, the double-digit growth in the planning of these types of housing will probably be reflected in the construction phase at much later stage.
Building stats July 2015
Sub-letting and assignment
IolProperty - South Africa
Is there a difference between sub-letting and assignment? A tenant's lease agreement contains references to assignment and subletting, requiring the tenant to obtain the landlord's permission in the event the tenant intends to assign the lease, or enter into a sub-lease.
The right to sub-lease under common law was not affected by the Rental Housing Act 50 of 1999, nor the contractual obligation to obtain the landlord's written permission if that is part of the lease contract.
The tenant who concludes a sub-lease hands over a part of the leased property, or the entire property, but remains responsible for all the obligations with the (principal) landlord.
The sub-tenant acquires legal rights against the original tenant.