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Financial pressure driving house sales  Economist says current property situation looks similar to 2008, which could mean more homes coming on to the market later in the year.
Real estate buying market remains resilient  South Africa’s home buying market remains resilient and continues to show better-than-expected annual house price growth.
What you need to know about occupational rent  Buyers and sellers may gloss over this concept in the euphoria of seeing a property change hands, but it is a detail that should not be ignored.
Should you buy a new home or an established property  Many opt to be the first to live in a property as there are advantages, including no transfer duty and less maintenance needed but you often get more space with established properties.

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Still good growth in bricks and mortar

Despite economic ups and downs over the past decade, investing in the property market has seen fairly steady returns.

Ten years ago, the average residential property in South Africa sold for R790 000. Today, that same average property is selling for R1.267 million, almost R500 000 more – despite a global pandemic that saw South Africa’s economy restricted under lockdown.

“The first thing that the figures make obvious is that the South African property market has not crashed,” says Schalk van der Merwe, franchisee for the Rawson Properties Helderberg Group. “In fact, given the utter turmoil occurring around the world, our average house price growth has been remarkably stable and above inflation.

“We’re definitely not at the high point of a cycle, but we’re also very far from our lowest moments, and trends suggest growth is heading upwards, not down.” Interestingly, the trends that dominated the property market in 2011 are still very much in play today, including the growth in demand for retirement estates and sellers struggling in a buyer’s market.

Read more: Still good growth in bricks and mortar

 
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DURBAN - SOUTH African final export figures show that the country had seen a record-breaking 2020 export season in the citrus industry that delivered 146 million cartons of South African citrus to the rest of the world. Citrus Growers Association (CGA) chief executive...

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PRETORIA - South Africa’s motor manufacturing industry is set for yet another boost, with Ford Motor Company of Southern Africa having announced on Tuesday that it will invest R15.8 billion to upgrade its Silverton plant in Gauteng as it prepares to build the...

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Johannesburg - President Cyril Ramaphosa has committed his government to ensuring that its economic reconstruction and recovery plan benefits the thousands of people who lost their jobs due to the Covid-19 pandemic. Ramaphosa made the commitment on Monday while...

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 Pretoria – The National Education, Health and Allied Workers’ Union (Nehawu) has appealed to South Africans to drink responsibly to avoid congesting the country’s hospitals with alcohol-related trauma.  This comes after President Cyril Ramaphosa...

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CAPE TOWN - Thirteen years is a long time in professional sport, especially rugby, and in that time, Jake White has learnt a lot about how to manage a team. Since coaching the Springboks to the 2007 Rugby World Cup title, the 57-year-old has picked up many trends...

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MELBOURNE - Australia pulled out of their Test cricket series in South Africa Tuesday due to the “unacceptable" risk for players, with coronavirus rampant in the country. "It has become clear that travelling from Australia to South Africa at this current time...

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