Time to look to the country

If you long to downscale to a simpler lifestyle free of the work pressures, security risks and high rates and taxes associated with cities and large towns, now might be a very good time to move to the country. “The reason is that small towns currently have even more to offer potential residents than peace and quiet, and that is good value for money in residential property,” says Berry Everitt, MD of the Chas Everitt International property group.

According to the FNB Property Barometer, he notes, the major metro price index showed a 4,7% increase in the first quarter of this year, while the index for what the bank calls “holiday towns” showed a 6,9% decline for the same period. And in real terms, the average house price in big cities was R1,1m, compared to an average of R794 000 in the holiday towns.

Writing in the Property Signposts newsletter, Everitt says Absa’s latest figures also reflect price increases in most metropolitan areas during the first quarter, and some startlingly large increases in major holiday / second-home destinations such as the Cape West Coast, the Garden Route and the KwaZulu-Natal South Coast.

However prices in the more rural provinces such as the Eastern Cape, Free State, Limpopo and Mpumalanga were still in decline.  “In short, what these stats show is that it should be possible to sell up in the city and have a nice chunk of change left after you’ve bought a home in the country. “Of course there are caveats, and no such major move should be made on impulse.

If you would have to commute to work back in the city every day in heavy traffic, for example, the allure of a country home would probably soon be eclipsed by frustration and high fuel bills. “On the other hand, it is a really bad idea to sink all your pension money into a village business until you have lived there for a while, done some serious number crunching and feel sure it will work.    “But if you already have or can quickly start a home-based or online business, or if you are an established teleworker, this may just be the time to make your great escape.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
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 …
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us