Residential Property Indices
South Africa - Lightstone
As at the end of April 2018 the national house price inflation index was at 3.9 %.
The market has since broken above the 2%-5% range following a consolidation in that zone as shown by the provincial indices. This is true for most of our indices except for coastal provinces in the east namely the Eastern Cape and KwaZulu-Natal as well as the Western Cape; these are slowing down with KwaZulu-Natal being the only one to break below the zone.
The inland municipalities Ekurhuleni, City of Tshwane and City of Johannesburg metros are growing stably at rates between 3% and 6% whereas the coastal municipalities are generally performing above this range. This relationship extends to all coastal and inland properties as shown by their respective indices.
Both the Low value and Mid value wealth segments continue to buck the trend by growing at more than 6% annually whilst the High and Luxury wealth segments are inflating at rates below 4%.
Lightstone Residential Property Indices
Can the Internet alone sell your home?
South Africa - Pam Golding
While almost every sector of the marketplace has been disrupted by the burgeoning digital space and its alternative offerings, ultimately consumers will decide what remains. In property quarters, the establishment of new, low-cost, strictly online agencies raises the question about the ongoing role and need for the traditional real estate agent.
Dr Andrew Golding, chief executive of the Pam Golding Property group, believes that the value proposition, even in even its simplest form, that professional property negotiators bring to the transaction, make the notion of an online agency a misnomer.
“Currently, traditional agencies and agents add real value in many varied and different ways. Firstly, the purchase or sale of a property is around a six-month process and can be complex and uniquely nuanced given that it is usually the single biggest transaction in the life of the buyer or seller.
Will conveyancing see the end of ink?
UK - Mortgage Finance Gazette
The government has acknowledged that the process of moving home needs to be cheaper, faster and less stressful. Part of the proposed solution is fixing the digitisation of the conveyancing process, which is long overdue, says Paul Norris, managing partner of Gordons Property Lawyers (GPL).
Iam passionate about helping fix the conveyancing process for borrowers. As we are closely watching the multiple changes that are currently happening that could deliver quicker completions, we thought we would share progress with you in this article.
Today self-driving cars are being tested. My phone can tell me where my car is parked, and distance from home. I expect soon it will be driving me to the nearest petrol station which has the lowest fuel cost and the shortest wait. Technology is changing everything and whilst it plays a growing role within society, the conveyancing sector has simply failed to keep up.
Mortgage Finance Gazette
How to find a home in a new city
South Africa - Rawson
Moving to a new city can be an incredibly exciting prospect, but it also comes with its challenges – like finding a place to live. Finding a great property to rent or buy in a place you know well is tricky enough… where do you even start when you’re moving to a city you barely know?
“A lot of South Africans are facing exactly this challenge at the moment, with semigration at an all-time high,” says Tony Clarke, MD of the Rawson Property Group. “It’s certainly stressful packing up your life and heading into unfamiliar territory, but that’s no reason to be cornered into bad property decisions that could affect you for years to come.”
So how do you make sure your decisions are the right ones? Clarke suggests asking yourself these questions as a start: