Sally Gracie, an experienced local agent and MD of Chas Everitt Cape Town South with offices in Fish Hoek, Tokai and Bergvliet says there are plenty of buyers waiting to take action after the election.
“It is not just an observation based on gut feel, it is the clear imbalance between those viewing properties on the portals and the offers being taken. As an agency that monitors many key indicators, we see an issue here showing considerable interest by buyers but a reluctance to follow through with offers. This usually indicates a confidence issue and it’s clear that at the moment we can attribute this to the imminent elections”, says Sally Gracie.
“We measure four major indicators; the number of people viewing our listings online, the number of appointments that result from this interest and then the number of offers taken and sales concluded,” said Sally. “When the number of people viewing property increases, but the number of offers taken decreases, then it is clear there is a confidence issue we need to identify. Based on our recent discussions with buyers it is clear that it is not Eskom but the election that is impacting on buyers taking action. “
Sally cautioned sellers to not misread the market. “This situation does not mean that we are expecting an increase in prices as we have had a build-up of stock, in particular at the top end of the market where supply has increased substantially since the start of the year. Sellers need to remain competitive! What is needed is turnover, and we expect that movement will pick up, absorbing the increase in stock that we are currently servicing. I think we can say this is good news for everyone,” she said.
A primate murder mystery puts one of South Africa’s best-known wine estates on the spot.
Klein Constantia on the slopes of the Constantiaberg in Cape Town, is one of South Africa’s most famously “green” wine estates. A WWF Conservation Champion, it touts its environmentalism widely. A 2015 book titled The Wine Kingdom – Celebrating Conservation in the Cape Winelands claims that it has “extensive soil erosion plans” and aims to build a cellar “that will be powered by solar energy”. It mentions that Klein Constantia “has also experienced serious damage to their crops caused by baboons, but today most of this problem is taken care of by using baboon monitors during harvest”.
From www.groundup.org.za – article by Steve Kretzmann
The report, City Leases: Cape Town’s Failure to Redistribute Land, proposes a “radical new deal” for housing on 24 areas of City-owned land, including golf courses, bowling greens, country clubs, and parking lots. These range across the breadth of the City, from Camps Bay to Strand to Fish Hoek. Detailed proposals are provided for five of them:
Curated content for eNeighbourhoods.co.za
Secure Estate – Kirstenhof
Rare opportunity to buy into a well managed and maintained single storey home forming part of a full security estate in the popular Le Jardin complex in Hayworth Road Kirstenhof.
This unit comprises three bedrooms two bathrooms (shower room en-suite) open plan lounge and fitted Kitchen with built in stove and hob and access to a sweet little back garden for a sunset braai after a long working day!
This home is ideal for all age groups, scaling down for retirement, first-time buyers or even a great little investment.
It also has the benefit of a garage with automated door and there are several visitors parking bays. Of particular interest is that it is also offered with full vacant possession so you can move right in!
Kirstenhof is an extremely popular suburb for all age groups and boasts an excellent Blue Route shopping Centre and Kirstenhof Primary School which is a very short walk away. Access to the M3 Freeway is also easily accessible.
More details at http://www.cei.co.za/showpropertySC0672343956.cp
Amid the tumultuous environment of the property market over the last several years in South Africa, Cape Town has not only remained stable in house price inflation but shown significant growth thanks to foreign investors and migration from other provinces.
Data a research group, Lightstone, recently analysed data of several million properties in the Western Cape and pinned the annual inflation rate at just under 4.0%, with a monthly rate of 0.27%.
One of the most interesting findings, the group said, is how the value and volume of properties compares between Cape Town and Johannesburg.
During 2008 the rand experienced its most dismal period to date performing exceptionally low against its global counterparts and the property market experienced negative growth on a national scale.
“Annual property inflation experienced similar growth nationally over the next four years. After 2012 however, the Western Cape and the City of Cape Town became increasingly more attractive to potential buyers,” Lightstone said.
Looking at the most expensive suburbs in Cape Town, Bishopscourt is the most expensive with an average value of R17.1 million, followed by Llandudno, Constantia Heights, Clifton, Steenberg and De Bosch in Stellenbosch.
“With most property prices on the rise, first time buyers are looking at more affordable options in lower cost suburbs like Pelikan Park, Kayelitsha and Parklands,” Lightstone said.
Even though the forecast for the Cape Town property market remains stable for 2018, this could be subject to changes dependant on government’s planned land expropriation without compensation strategy, the group said.
“In the interim, the appetite for foreign investments in the Cape Town property market will provide the required strength within the industry; and the demand for secure estate living will continue where both freehold and sectional title should enjoy much needed growth.”
IN AND AROUND THE CAPE PENINSULA THE CITY’S MOST EXPENSIVE MARKETS CONTINUED TO SHOW THE CLEAREST SIGNS OF SLOWING PRICE GROWTH IN THE 1ST QUARTER. Atlantic Seaboard, has seen its price growth slow the fastest off the highest base, while in certain more affordable sub-regions of the City there has still been some growth acceleration.
In the 1st quarter of 2018, we saw further slowing in house price growth in the City Bowl and the other major 3 sub-regions closest to the City Bowl, i.e. in and around the Cape Peninsula.
These sub-regions near to the city and the mountain have shown some of the strongest house price inflation of all of the Cape Town sub-regions over the past 5 years, and this prior deterioration in home affordability appears to have led to slowing demand, and thus price growth, in recent quarters.
The most expensive sub-region in the City of Cape Town Metro, i.e. the Atlantic Seaboard, has seen its average house price growth slow the most sharply off the highest base, from a revised multi-year high of 27.5% year-on-year in the final quarter of 2016 to 2.3% by the 1st quarter of 2018.
This does not surprise us, as this sub-region has experienced the most rapid cumulative growth of all the sub-regions over the past 5 years, to the tune of 111%.
The City Bowl started its price growth slowdown a little earlier than the Atlantic Seaboard, and has gone from its revised multi-year year-on-year growth high of 23.6% in the 2nd quarter of 2016 to 10.0% by the 1st quarter of 2018.
The Southern Suburbs, the other one of the “most expensive 3” sub-regions, saw further slowdown from 10.1% in the prior quarter to 8.4% in the 1st quarter of 2018, having gradually slowed from a multi-year high of 16.1% in the 2nd quarter of 2015.
Arguably reflective of the heightened search for relative affordability in or near to Cape Town’s prime place of employment, the City Bowl, is the indication that the most affordable sub-region within close proximity to the City Bowl, i.e. the Near Eastern Suburbs sub-region (including amongst others Salt River, Woodstock and Pinelands), shows the fastest house price growth of these “Major 4” sub-regions in or near to the Cape Peninsula.
Proximity to the City Bowl (and for that matter to Claremont Business Node) is becoming increasingly important as the city’s traffic congestion deteriorates. From a 19.4% high in the 1st quarter of 2016, the Near Eastern Suburbs House Price Index has also seen year-on-year growth slowing, but less significantly than the others, to reach 13.4% by the 1st quarter of 2018. It now has the fastest price growth rate of the Major 4 sub-regions surrounding Table Mountain.
THE TREND OF SLOWING GROWTH IS LESS PRONOUNCED IN THE MORE AFFORDABLE SUBURBAN MARKETS, AND SOME SUB-REGIONS EVEN SHOW STRENGTHENING PRICE GROWTH.
Further away from Table Mountain, in Cape Town’s more affordable suburban areas, the pattern of “slowdown” in price growth remains less clear, and there has even been some acceleration in certain sub-regions. We remain of the belief that the extremely high prices in the areas close to the City Bowl may have been encouraging a portion of aspirant buyers to shift their home search to these more “affordable” City of Cape Town housing markets a little further away, in search of greater affordability.
All 3 major Northern Suburbs sub-saw double-digit average house price growth rates in the 1st quarter of 2018, with 1 out of the 3 showing a growth acceleration.
The Western Seaboard Sub-Region (including Blouberg, Milnerton and Melkbosstrand) saw a slowing in year-on-year price growth, from 14.7% in the previous quarter to 14.4% in the 1st quarter of 2018, the 2nd successive quarter of slowing growth.
The “Bellville-Parow and Surroundings” sub-region also saw its price growth slow, from 11.4% year-on-year in the final quarter of 2017 to 10.8% in the 1st quarter of 2018, after prior quarters of strengthening.
However, the Durbanville – Kraaifontein – Brackenfell sub-region continued to accelerate mildly, from 9.8% growth in the final quarter of 2017 to 10.1% in the 1st quarter of 2018.
Moving into even more affordable regions, ones which incorporate many of the city’s Apartheid Era former so-called “Coloured” and “Black” Areas, we have recently seen price growth accelerations.
This, too, we believe could reflect a mounting search for relative affordability after rapid price inflation in the higher priced “suburban” areas in recent years.
Therefore, we have seen the Cape Flats House Price Index experience a further growth acceleration, from 11.4% year-on-year in the previous quarter to 11.6% in the 1st quarter of 2018. The Elsies River-Blue Downs-Macassar Region has also seen house price growth accelerate further to reach 25% year-on-year, from 23.7% in the previous quarter.
In short, in the 1st quarter of 2018, the City of Cape Town has seen further mild slowing in average house price growth for the 7th consecutive quarter, although the most recent 10.0% year-on-year growth rate remains strong.
Source: John Loos FNB Property Barometer
Whether you’re after a windswept coastal wander, a mountainous hike with spectacular views, or a leisurely amble through one of the Cape’s lush nature reserves, here’s our pick of the best hiking trails in and around the city. So, lace up your hiking boots and get cracking… And, let us know your thoughts in the comments below.
Although the Cape is rich in natural beauty, tourists and locals are urged to take necessary precautions when exploring secluded areas, as crimes and accidents do happen.
Those venturing into the Table Mountain National Park should have the following emergency numbers on hand: 086 110 6417/ 107 or 021 480 7700. Criminal incidents should be reported to the nearest police station as soon as able.
We also recommend @safetymountain as a useful resource for hikers. This free safety tracking service allows you to notify local trackers of your contact details, intended route and travel time via whatsapp. You are then able to provide hourly updates on your progress, and to notify trackers when you are safely off the mountain.
It helps to have a map, and for that, SANParks and The Inside Guide recommends Slingsby Maps as an essential resource for hiking enthusiasts. Detailed maps of some of the Cape’s best hiking trails are available, including the Pipe Track, Cape Point and the Cederberg. Contact Slingsby Maps at 021 788 4545 for more information.
If you are moving home, getting a reliable property valuation is an essential step in the process.
A property valuation will give you an estimate of how much your house should be worth, based upon a number of different factors.
Even if you are not planning to move home straight away, house valuations remain an excellent tool to indicate a current market value and what improvements could be made should you want to potentially increase the value of your home without over capitalising.
By answering a few easy questions on the current condition of your home, our free property value calculator which uses the latest GIS (Geographic Information Systems) will give you an idea of how much money you could potentially make from the sale of your home.
Unique to Valuator we are also able to reference recent final property sales (selected Cape Town metropolitan areas) that have not yet been recorded in the Deeds Office which makes our report that much more current and reliable!
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These reports are free until 1st June 2018
Valuator is a service operated in association with Chas Everitt by:
HOMEimage offers specialised marketing solutions to property developers, hospitality industry, private property sellers and agents, such as 3D models, floor plans, virtual tours, professional photography, drone aerial photography, property marketing materials, and project management.
Romeu de Faria
Wynberg Park 7800
This means that any new buildings erected must incorporate electrical sockets that conform to the new standard.
An amendment to the wiring code introduced in 2016 stated that the ZA Plug would become semi-mandatory for new installations in March 2018.
Each new plug point must have at least one socket that can accommodate a ZA Plug, it said.
The amendment came into effect two months early, said the SABS, and from January 2018 all new installations must incorporate the ZA Plug.
The ZA Plug has the same hexagonal profile as the Europlug seen on cell phone chargers but includes an earth pin. It is substantially more compact than South Africa’s three-prong plug standard and has much thinner pins.
Adoption of the standard has been slow, however.
Gianfranco Campetti, the chairman of the working group that looks after the standard, said the industry has been slow to respond and use the standard in essential products.
He said the appliance industry, in particular, has been slow to provide goods with the new plug.
When the IEC first began development on IEC–906–1, which became IEC60906–1, it was trying to establish a universal plug and socket system.
Despite its efforts, commercial and political interests caused the standardisation initiative to fail in Europe – and Brazil and South Africa are the only countries to have adopted the 250V standard.
However, Brazil deviated from the standard by delivering either 127V or 220V mains using the same socket.
Japan and the US have plugs and sockets that are compatible with the IEC’s envisioned global standard for 125V sockets.
Talk of adopting the new standard began in South Africa in 1993, and a version of SANS 164–2 that dates back to 2006 is available online.
According to the SABS, the ZA Plug appeared in South Africa’s wiring code (SANS 10142–1) during 2012.
Although it is now required to integrate sockets which comply with the ZA Plug standard in new buildings, the old standard remains legal.
The wiring code amendment also does not affect existing buildings, including homes.
It is therefore not currently necessary for South Africans to switch the electrical sockets in their homes.