Residential building statistics
South Africa - Absa
Overall residential building activity remaining subdued up to late 2018
Private sector-financed building activity (see explanatory note) in the South African market for new housing remained subdued in the first eleven months of 2018, based on data released by Statistics South Africa. However, significant divergences remain evident at a segment level, with the category of higher-density housing, i.e. flats and townhouses, being a major focus of residential building activity. This trend is most probably related to the factors of changing trends over time regarding lifestyles, housing affordability and building costs.
The number of building plans approved for new housing increased by 4,8% year-on-year (y/y), or a total of 2 497 plans, to 54 976 plans in January to November last year. Growth in plans approved was driven by the segment for flats and townhouses, which recorded relatively strong growth of 20,5% y/y, or 4 217 plans, to a total of 24 822 plans approved in this category of housing over the 11-month period. Plans approved with regard to the two categories of new houses contracted on a year-on-year basis over this period.
Building stats Nov 2018
Semigration takes off again
South Africa - Property360
Increasing use of technology in property sector also predicted for 2019
The upcoming general elections may be clouding predictions for the property market, but semigration and downscaling are sure bets this year. And regardless of what happens at the polls, property technology will also continue to see growth in 2019.
Semigration slowed early last year due to the water crisis in the Western Cape, which is the most popular destination for semigrants, but Greeff Christie’s International Real Estate chief executive Mike Greeff says this will change.
“The end of the drought means more people will look to Cape Town as a destination without being concerned about a possible Day Zero. This also applies to foreign buyers wanting to purchase holiday homes in Cape Town.”
4 ways to get a head start on selling your home this year
South Africa - Rawson
If selling your home is on your list of New Year’s resolutions, you’ll be pleased to know that the first few months of the year are traditionally an excellent time to hit the market. Not only are the early summer transfers starting to filter through into the deeds office (providing useful statistical information), properties are also showing their sunny sides and buyers are in a happy and motivated frame of mind.
According to David Jacobs, Gauteng Regional Manager for the Rawson Property Group, there are several ways sellers can make the most of this seasonal opportunity. These are his four, top tips to hit the new year’s property market in peak form and give your home a head start to sell well in 2019.