select
|

Tshwane property market a star performer

The property market in Tshwane has emerged from the past two years of uncertainty as one of the country’s strongest performers and is now firmly in recovery.
 
That’s the word from RealNet estate agency group MD Jan Davel, who notes that the average property price in the metro showed more than twice as much growth as the national average last year.
 
“According to the latest available Absa housing review, property prices in Tshwane grew 11,4% in the 12 months to end-September, compared with a national average growth of 5,4%. Taking inflation into account, this means that homeowners in this metro saw their investments grow in real terms by between 7 and 8% last year.”
 
This performance was based on strong showings in all sectors of the market, he says. “The Absa figures show that in the small home sector, prices in Tshwane grew by a whopping 55,4%yoy, compared with a national average of 20,9%, and well ahead of the next-best performer which was East London at 39,1%.
 
“In the medium home category, prices in Tshwane increased by an average of 13,1%yoy, compared with the national average increase of 4,9%, while large home prices in the metro increased by an average 9,3%, compared with the national average increase of 1,6%.”
 
And, says Davel, reports coming in from the RealNet offices in Tshwane show that the local market is set to strengthen even further in 2011, thanks to two further interest rate cuts late last year and an improvement in mortgage application acceptances as consumers continue to lower their debt levels.
 
With 15 franchise offices in and around Tshwane, RealNet is now the biggest provider of property services in the metro, and so is well-placed to observe and comment on its market, he notes.
 
The group has offices in all parts of the metro, from Centurion in the south to Montana and Doornpoort in the north and right across to Silver Lakes and Kungwini in the east, and it markets all types of property, from farms, plots and development land, through apartments, townhouses, suburban and estate homes to shops, offices and industrial premises.
      
ISSUED BY REALNET
FOR FURTHER INFORMATION


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    • 20 Jun 2018
      The average size of bond granted in SA has grown 7,7% in the past 12 months to R934 000, according to BetterBond, the country’s biggest bond originator.
    • 19 Jun 2018
      In the current market, letting out a property can be a good option as rental demand remains strong, especially in the northern suburbs of Johannesburg. This is according to Chris Renecle, MD of Renprop. However he says that before homeowners let their property out, there are five key points they should make sure are covered before they market the property for rent and sign any lease agreements.
    • 19 Jun 2018
      The Capetonian dream is to live by the ocean with the iconic mountain making an appearance somewhere in the horizon. But, that dream comes with a hefty price tag that many simply cannot afford. But, should you venture some kilometres out of the city centre, entirely new realms of beachside bliss await you …
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK