Posts tagged with 'SOUTH AFRICA'

 

Shocking number of South Africans selling up and leaving the country

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The FNB Estate Agents Survey results for the first quarter of 2019 has shed some light on the current market activity and sentiment. Shockingly, the survey reveals a massive jump in the number of people selling up and leaving the country. According to the lender, estate agents did not perceive further slowing in housing demand in the first quarter of 2019. Their average estimate for “serious viewers per show house prior to sale” was 9.97 viewers per show house, virtually the same as the estimate of the prior quarter. This, however, still languishes behind the historical average of 11.95 viewers since 4Q06, noted FNB economist, Siphamandla Mkhwanazi. In addition, agents did not perceive a further weakening in the balance between demand and supply in the first-quarter survey. The average time of homes on the market moved sideways at 15 weeks and 3 days from 15 weeks and 6 days in 4Q18, putting a break on a broadly rising trend since the end of 2015. “This is significantly lower than the most recent peak of 17 weeks and 6 days in 3Q18. “Notwithstanding, this suggests that current demand levels are still insufficient to mop up available supply of housing stock on the market, when compared to the long-term average of 13 weeks and 4 days since inception of the survey question in 4Q04,” said Mkhwanazi. Reasons for selling Estate agents perceive “Downscaling because of life stage” as still the most prominent reason for selling a property in South Africa, with such sales accounting for 23% of all sales, flat from the previous quarter, FNB said. However, emigration-driven sales now account for 14.2% of all sales, a big jump from 10% in 4Q18. “In fact such sales, according to estate agents, have doubled in the past two years and are, as expected, more prominent in the coastal areas and in upmarket segments,” Mkhwanazi said. On a slightly positive note, although downscaling due to financial pressure has become increasingly prominent in the past year, the estimated proportion of such sales eased to 15.9% in 1Q19, from 19% in 4Q18, FNB said. Of those who sell due to financial pressure, an estimated half opt for the rental market, and the other half opts for a cheaper property. The proportion of those who opt for rentals has, over the past year, been rising, only retreating in 1Q19 at approximately 49.01% from 68.01% in 4Q18, the lender said. “However, these trends do not appear to have benefited the rental market, as vacancies are reported to be increasing and rental inflation continues to languish below inflation. One explanation could be that households are consolidating in the rental market, opting for shared space,” said Mkhwanazi. Similarly, the survey showed a rising trend of communal living property purchases. FNB define this as people buying property jointly with friends or other extended family members with a view to living together to share expenses/repayments. The 1Q19 results show that 15.9% of respondent agents are seeing this trend increasing in their respective markets, up from 12.7% in 4Q18. “This consumer behaviour is not surprising when viewed in the context of housing expenses outpacing wage growth, and consistent with other manifestations of consumer pressures in adjacent markets, such as the passenger car market wherein total volumes are declining but the proportion of SUVs (family-oriented cars) is rising,” said Mkhwanazi.

The FNB Estate Agents Survey results for the first quarter of 2019 has shed some light on the current market activity and sentiment. Shockingly, the survey reveals a massive jump in the number of people selling up and leaving the country. According to the lender, estate agents did not perceive further slowing in housing demand..
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Murdered Irish aid worker John Curran’s ‘killer’ to apply for bail in April

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Murdered Irish aid worker John Curran's 'killer' to apply for bail in April

Mitspa Mzakomba Onyoka, 24, was seen on CCTV in a lift in the apartment building where murdered John Curran lived in Buitengracht Street in Cape Town. Mitspa Mzakomba Onyoka, 24, was seen on CCTV in a lift in the apartment building where murdered John Curran lived in Buitengracht Street in Cape Town. The man accused..
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Zionists have joined the campaign against the University of Cape Town’s proposed academic boycott of Israeli universities

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Zionists have joined the campaign against the University of Cape Town's proposed academic boycott of Israeli universities

The SA Zionist Federation has asked UCT alumni for “urgent assistance in taking a stand against this dangerous attempt to attack Israel and undermine academic freedom at UCT”. In a statement on Tuesday, federation chair Ben Swartz and Cape chair Rowan Polovin said a boycott, which goes to the vote at the UCT council meeting..
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Going abroad shouldn’t have to mean that you get cut off from all the local content that you enjoy – How to catch South African sports and shows abroad

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Going abroad shouldn’t have to mean that you get cut off from all the local content that you enjoy - How to catch South African sports and shows abroad

In 2016, a report by PPS—an investment, insurance, financial planning and healthcare firm for graduate professionals—indicated that 54% of South African graduates plan to move abroad for work within five years of graduating. Moreover, the report goes on to state that 69% of those who intend to move will also make a point of staying..
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Nigeriër met SA paspoort word in Thailand gesoek na vrou vermoor gevind is in hotelkamer

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Nigeriër met SA paspoort word in Thailand gesoek na vrou vermoor is in hotelkamer

‘n Nigeriese man wat glo met ’n Suid-Afrikaanse paspoort reis, word in Thailand in verband met moord gesoek. John Odoemenam van Nigerië reis glo met ’n vervalste Suid-Afrikaanse paspoort met die naam van Mzwakhe Memela, berig Within Nigeria. Die Bangkok Jack en The Thaiger, nuusagentskappe in Thailand, het Maandag berig dat hulle ’n Suid-Afrikaner in..
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Suid-Afrika as ’n toeriste bestemming is besig om af te neem – Dit kom voor of besoekers skugter is om die land te besoek a.g.v. sy politieke klimaat en toenemende geweld misdade

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Suid-Afrika as ’n toeriste bestemming is besig om af te neem – Dit kom voor of besoekers skugter is om die land te besoek a.g.v. sy politieke klimaat en toenemende geweld misdade

Buitelandse toeriste aan Suid-Afrika neem af, maar in lande soos China groei Suid-Afrika se gewildheid as vakansiebestemming merkwaardig. Buitelandse toeriste na Suid-Afrika het in die eerste maand van 2019 teenoor ’n jaar gelede met bykans 5% gedaal. Die profiel van die toeriste wat die land besoek, is voortdurend besig om te verander en Chinese besoekers..
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Emigration: Load shedding has caused a sharp increase in SA citizens moving abroad, thanks to Eskom.

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Emigration: Load shedding has caused a sharp increase in SA citizens moving abroad, thanks to Eskom.

Not only are Eskom failing to keep the lights on, but it seems they are also influencing people to pack up their belongings and leave the country for good. Industry experts have concluded that load shedding has played a huge part in the rising emigration numbers. Emigration and load shedding FNB property sector strategist, John..
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SA nasionale fietsryspan neem deel aan die 14de Afrika padkampioenskappe in Ethiopië

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SA nasionale fietsryspan neem deel aan die 14de Afrika padkampioenskappe in Ethiopië

Hoewel enkele groot name ontbreek, is meeste van die uitblinkers van die afgelope Suid-Afrikaanse kampioenskappe in die nasionale fietsryspan wat in Afrika se padkampioenskappe in Ethiopië deelneem. ’n Woordvoerder van Fietsry Suid-Afrika het bevestig dat sterre soos Daryl Impey (Mitchelton-Scott), Louis Meintjes (Dimension Data) en Ashleigh Moolman-Pasio (CCC-Liv) is onder meer weens hulle spanverpligtinge nie..
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ANC government welcomes foreign nationals in SA and will give them support in getting legal documentation – migrants are flooding SA, taking away job opportunities and exploiting health-care system and the ANC-regime welcomes it

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ANC government welcomes foreign nationals in SA and will give them support in getting legal documentation - migrants are flooding SA, taking away job opportunities and exploiting health-care system

Committed to ensuring that foreign nationals received support– “We welcome everyone to come through the front door.” The African National Congress (ANC) says it will deal decisively with illegal and undocumented immigrants in the country. The party’s security cluster said this on Sunday in a briefing at Luthuli House on security and stability. But it..
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Experts says that the South African tourism projections for 2019 paint a bleak picture

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South Africa has been through a lot, from the water crisis in Cape Town to the political tension leading up to the elections. According to Martin Wiest, CEO of Tourvest Destination Management, we can expect a “decline in passenger numbers to South Africa and Namibia” during 2019. He told the Daily Southern and East African..
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