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Property market to remain skittish in 2019

They tell us that the worst is over, but I am not convinced that is the case, says Chris Renecle, MD of Renprop when talking about the Gauteng property market outlook for 2019. The market is currently skittish with many adopting a wait and see attitude and this is likely to continue for a number of months, he says.

Renecle notes that Renprop started 2018 with much optimism after experiencing the busiest January in a number of years, but says that after the speech about land appropriation without compensation, the market slowed down and there was a notable drop in enquiries across the board.

In order for the South African property market to show any kind of improvement and growth in 2019, it requires policy certainty, especially around the land appropriation issue, as well as investment and an economic boost. Therefore there is not expectation of a major recovery in any market sector in the year ahead. Therefore over the next 12 months, the South African property market is expected to perform much has it has during 2018.

Read more: Property market to remain skittish in 2019

 
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The rand strengthened further on Monday after Moody's Investors Service held off on its ratings review of South Africa on Friday.By 10:04 the local unit was trading 0.41% firmer at R14.45 against the US dollar, despite the dollar firming somewhat on risk-off sentiment.Last...

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The railway town of Touwsrivier is hardly the thriving economy it once was. But the presence of a solar plant will hopefully be the catalyst needed to reignite the small town's economy.Located in the Cape Winelands District in the north eastern part of the Western...

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Politics

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The Nugent Commission of Inquiry into the South African Revenue Service (SARS) on Monday resumed in Pretoria, despite a brewing Constitutional Court bid by suspended tax boss Tom Moyane to have it halted.Judge Robert Nugent, who is heading the inquiry, has also...

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Scandal-ridden VBS Mutual Bank gifted former president Jacob Zuma an R8.5m bond which he could not afford, and at least nine months before any documents were signed to give the bank security over the loan.Basic calculations show that Zuma could not have afforded...

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Sports

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Cape Town - Cricket South Africa (CSA) has announced that AB de Villiers will take part in this year's Mzansi Super League.That was confirmed on Monday as the six franchise names were unveiled at a function in Johannesburg.De Villiers will play for the Tshwane...

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Cape Town - All Black Sam Cane's extended stay in South Africa has come to an end as the star flank was medically given the green light to fly home.Cane broke a vertebra in his neck in the Test against the Springboks in Pretoria on October 6 and was forced to...

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