Property News You Can Use – Presented By Harcourts

Property News You Can Use – Presented By Harcourts

What’s in store for 2022

  • With the first quarter of 2022 behind us, we look back with a smile. The year started with a ‘bang’, and the property industry prospered. Sales were at an all-time high, and the sheer positive energy and interest in the market were just incredible to experience.
  • The market has undoubtedly quietened down. Contributing factors can be recent increases in the interest rates, and stock levels are at an all-time low. 
  • We can expect an increase in demand for smaller properties, specifically in gated estates or sectional titles, due to the tightening of the belt when it comes to household savings. 
  • While certain areas – mainly in large urban centres like Cape Town and Johannesburg – have done well during the past year, the overall consensus is that property price growth has gradually slowed down over the past seven months. This slowing is undoubtedly a result of the lagging impact of a weakening in economic development and possibly the effect of the interest rate hiking cycle.
  • Regardless of what the economy is doing, people still need a place to live so that demand will continue, mainly below the R3 million price range.
  • The higher end of the market is definitely struggling everywhere.

Property hot spots around the country

  • Due mainly to the increased security offered in gated estates and sectional title developments, these properties are increasingly in demand – from the lowest price bracket to high-end estates. The most attractive selling points are the easy secured living, whether families or single, and the benefits of overall maintenance of properties. 
  • The Sectional Title Schemes Management Act (STSMA) and Community Services Ombuds Service Act (CSOSA) drive much-needed reform in terms of the financial and physical management of sectional title schemes, making these properties even more attractive.

Further Interest Rate Hikes?

  • South Africa is undoubtedly in a difficult position in terms of our economy. Much needs to be changed for the economy to strengthen. 
  • The Rand remains volatile, Eskom with continued load shedding, our political instability and continued corruption, the recent floods and disasters all add to our economy that is under so much pressure. Taking all of this into account, the one certainty we have is to expect further interest rate increases for the remainder of 2022. 

Property Advice for the remainder of the year

  • Buyers: Our recommendation to buyers is to do your homework – know the area you’re looking at and the range of property prices and get mortgage pre-approval. 
  • Always work with reputable, qualified estate agents who can demonstrate their area knowledge and give expert advice and assistance.
  • If possible, Sellers pay off your home loan or at least pay more money into it every month as a buffer against future rate increases, interest rate hikes, and any unforeseen circumstances.
  • 2022, much like 2021, will have its ups and downs, but everyone needs a place to live, so the property market will continue to be active.
  • It’s up to sellers and buyers to do their homework, get advice from property experts and make the most intelligent choices.

Trends likely to continue

  • With economic conditions projected to remain challenging for the foreseeable future, it is the view that these trends are likely to continue. 
  • This is a challenge and an opportunity for the property industry. South Africans have historically been attracted to the idea of large properties. 
  • For the Developer/s, it certainly is time to focus on building smaller, lower-priced properties with the ‘lack of size’ to compensate for convenience, location, or innovative design. This may prove a rewarding avenue for industry players to pursue.

By Marsha

 

Previous Columns:

Renting Your Property, 7 Deadly Sins.As a Landlord, you want your investment protected. As a Tenant, you want your deposit looked after and a comfortable place to live.

Best Buyer’s Market In 35 yearsIf you are still wondering when the best time to buy is, this is it. As the real estate market emerges, moving out from the after-effects of 24 months of Covid, we also enter the best buyers’ market in over 35 years!

What’s On At The SUPERSPAR – Discounts, Ice Cream, Chocolate Sauce

What’s On At The SUPERSPAR – Discounts, Ice Cream, Chocolate Sauce

Some Weekend Specials And More

We have a mixed bag for you this week. Most importantly, though, we have some great specials. 

These specials at TOPS are running for the whole month of May, from 10 May until 4 June, and they all look good. So stock up on the drinks you love while the specials are on. It seems like there won’t be any more lockdowns, so we don’t have to worry about stocking up as we won’t be closing. Let’s hope there won’t be alcohol bans (or cigarette or roast chicken bans), but the discounts are good, so that’s enough to stock up. 

Then, just for fun, this is a fun and straightforward recipe for chocolate sauce from SPAR Savour Magazine. 

HOW TO MAKE CHOCOLATE SAUCE FROM SCRATCH

INGREDIENTS

Easy peasy

  • 160g dark chocolate (2 x 80g slabs)
  • 320ml SPAR cream 

Pantry staples 

  • ¼ cup SPAR butter
  • ¼ cup SPAR golden syrup 
  • 1-2 tbsp water
  • A sprinkle of salt *optional 
  • ¼ cup SPAR cocoa 

METHOD

Easy peasy

  • Heat the chocolate and cream together in the microwave. 
  • Start with a minute, stir it and if it’s not all melted, pop it in for 30-second bursts, stirring between each burst until smooth and melted. 

Pantry staples 

  • Heat the butter, syrup and 1 Tbsp water together until all melted. 
  • Add the cocoa and salt. If it’s too thick for your taste – add the other 1 Tbsp water. 
  • Stir until smooth. 

Finally, Some Big Weekend Specials

Freeride MTB: Darkfest Video Highlights

Freeride MTB: Darkfest Video Highlights

DarkFest has released a highlights video to contend with the greatest event edits of all time. Imma let you finish, but first, please strap your head into a full face and conduct the necessary safety checks before dropping into the:

One of the largest gatherings of Freeride legends, newbies and ladies, it’s been a minute since we’ve been able to say that the vibes were absolutely firing since day zero. As soon as the course was opened up by Spanish wildman and King of Darkfest ’22, Bienvenido Aguado, it was ON. We saw history-making 90-foot jumps by Robin Goomes and Casey Brown, redemption Double Flips by Adolf Silva and the steeziest whips by World Cup DH hero Kaos Seagrave. 

 

Photo Of The Day – Kouga Exec Mayor Switches On Power To 200 Sites

Photo Of The Day – Kouga Exec Mayor Switches On Power To 200 Sites

Two hundred families in Humansdorp received much-needed electricity for the first time last week. Kouga Executive Mayor, Horatio Hendricks (right), switched on the power to 200 sites at the informal settlement Hopeville on Friday, April 22. He shared the privilege with Ward 4 Councillor, Jaques Alexander (left). Sana George (70), one of the oldest residents in the area, is elated to have electricity for the first time.