The latest FNB House Price Index (HPI) reports annual house price growth of just 2.6% y/y in October. Please note that you are using an outdated version of Internet Explorer which is not compatible with some elements of the site. Hobart property values are again with values up 6.5% over the past year. The labor market declined in December for the first time since the spring The U.S. lost 140,000 jobs in December from November, the first monthly decline since April. The high levels of market activity seen since June gave rise to record residential sales with even double-digit house price growth recorded for properties below R450k. “The buoyancy up to R3m (R6m-R8m in high suburbs) will sustain until late into 2021. The African construction industry is … We at Fitch Solutions forecast Senegal's real GDP to have expanded by just 0.9% y-o-y in 2020, amidst the impacts of the Covid-19 pandemic. People are also realising there is money to be saved by living together, "this explains why homes with granny flats or cottages are now especially popular. Demand for homes in Adelaide’s northern and southern suburbs could see property price growth of almost 7 per by 2021, a new market report claims. He pegs property hotspots for 2021 as the Cape, Garden Route and KZN Ballito/Zimbali area, and middle-class neighbourhoods for both sellers and landlords. “With entire families being home during the day, buyers are putting alarms, boomed suburbs, and CCTV at the top of their priorities.”. Low-interest rates mean high sales volumes will set the tone for the year ahead, says Regional Director and CEO of RE/MAX of Southern Africa, Adrian Goslett. The residential property market was stable and prices continued to rise before 2019. The clever money will be spent in high-density areas. These tools can be used to address societal issues of safety, green space and racial equity. Rhys Dyer, CEO of ooba predicts the Property Market in 2021 will continue to be driven by first-time homebuyers (FTHBs). Add to this, the accelerated trends like retail footprint reductions and the appeal of quality retail assets outside of big cities says Norman Raad, CEO of Broll Auctions. “As corporate South Africa starts focusing their attentions on profit targets and consolidating the losses of 2020, we will see more retrenchments coupled with the banks easing of the payment holidays and debt relief programs. Weather forecast, alerts and UVB index for all South African provinces, 13 January 2021 2021-01-13 Gary Player’s son leads anger at golfing great accepting Medal of Freedom Jan 13, 2021 Swiss Franc Forecast: NZD/CHF, CAD/CHF Testing Key Chart Areas Jan 13, 2021 Australian Dollar Technical Outlook: AUD/USD, AUD/JPY, AUD/CHF Market Data Economy | January 12th 2021 South African vehicle sales plummet in 2020. Seeff suspects investors will look for value especially in the rental market in high-demand areas, usually middle-income suburbs with amenities and transport networks. Covid-19 showed sellers, who have been riding the crest of the wave and holding onto income-generating assets which bring in a lot of cash, that nothing is bulletproof. | Here's why most people are selling right now, What tenants want? "This is following three months during hard lockdown (from April to June) where our sales figures dropped by as much as 62% YoY. The rapid recovery of the housing market is expected to start losing steam going into next year due to household financial constraints and the weak economic growth prognosis agrees Mkhwanazi. The signs indicate that though perhaps at a more sedated pace, the residential property sector will see continued high activity. Market news, auctions, leisure, estate agent industry, construction, professional opinions. If you're looking to buy a house in the south-west, the time is now: The Cape Town property market is going through a few things, and house prices are coming down. Consequently, even though they can see the market is quieting down, these factors will continue to drive market activity as people continue to up-or-downgrade as their daily needs change says Lew Geffen, chairman of Lew Geffen Sotheby’s International Realty. Services. “Previously, such quality assets have been tightly held onto by owners, who are now raising cash to reinvest. Work from home: Lightstone has already reported an increase in home sales in coastal towns and on lifestyle estates as more people continue to work from home who are looking for more spacious homes in quieter family-friendly environments. Self-Tan - All mass and Premium Products that either enhance natural tanning (tanning aids) or allow the skin to tan without developing exposure to the sun (sunless tanners). Dippenaar advises caution heading into 2021 when entering into the initial lease agreement should no fixed lease extension with an agreed rental increase be recorded, as courts have held that a term requiring a “good faith” negotiation on future rental is unenforceable, so exercise caution. See the Orlando (Florida State, Orange County) property price forecasts, and buy/sell analysis based on the Housing Market and Property Investment report below. January 7, 2021 admin Commercial property, Lightstone Statistics, Mall Owners, Property Data, Shopping Malls, South African Property Johannesburg, South Africa – January 2020: Over the past few years, there has been a noticeable trend of shoppers moving According to our National Housing Report for Q3 2020, the median asking price of sectional titles reflected a 5% drop YoY and freehold homes reflected no growth but remained steady year-on-year. Barriers to entry are now lowered, it is now easier than ever to buy commercial property - this is the time for innovative investors with ideas. We then forecast growth recovering to 5.2% in 2021 and 6.4% in 2022. The impact of this will result in more consumers being forced to downscale and a higher number of properties becoming available in the market and thus moving us back to a buyers’ market as we saw in April and May 2020,” he adds. To enable the continuation of these services as seamlessly as possible, the Rawson Property Group leveraged its award-winning technology to roll out 6 efficient products for their clients  - virtual valuations, Rawson 3d virtual tours, Rawson virtual show houses, electronically signed documentation and online meetings. The momentum of the housing market activity is expected to lead to a “strong start in 2021”, said Zoopla. Christmas is also around the corner and many are only now truly beginning to feel the effects of a very tough economic situation.”. Guy Johnson and … Mortgage repayment holidays saved jobless workers from having to sell their homes, preventing major supply glut (which is what happened in 2008) says  Siphamandla Mkhwanazi, FNB senior economist. Property in Australia’s capital cities rose an average of 3% in 2020, while regional markets climbed 6.9% higher, according to CoreLogic. Agriculture. Forecast updates. In 2009, the Seeff Property Group for example experienced a decline in sales of 25% year-on-year. Dyer also expects that property activity will be in the price points that FTHB’s can afford, with a possible forecast of stock shortages that can be filled by new developments. The Centre for Economics and Business Research (CEBR) has forecast a 14% fall in house prices by the end of 2021, this is despite average prices reaching record highs in August. The combination of low interest rates and mortgage payment holidays meant the local property market is in a better condition to recover than it was during the global financial crisis of 2008. Millennials still appear cautious when it comes to buying properties to live in, but they are becoming more amenable to investment buys. Market Insights. A Rode Q2 2020 report detailed some of the weakest year-on-year changes for the rental market since 2013. ... Top trends set to impact SA's commercial property market in 2021. “Gauteng businessmen and their families swapped Sandton for St Francis Bay while Western Cape residents swapped Constantia for the Garden Route. Rising unemployment, end of stamp duty holiday and Brexit will affect market, says lender First published on Mon 21 Dec 2020 07.46 EST House prices in … The downside is that interest rates might be increased as a counter-inflationary measure. The Sunshine State is shining and strong demand for detached houses and outstanding demand for lifestyle areas are projected to deliver 6–10% capital growth in 2021 for the south-east Queensland property market. While the property market is in a downward trend, Seeff says that it is by no means the worst market that he has seen in over 30-plus years in property, and it is nowhere near the lows of the 2008 Global Financial Crisis. He says this could potentially further bolster the luxury market now that borders are open for international travel, although this growth will likely remain modest compared to the more affordable segments of the market. Rademeyer has found the "strain of lockdown has, unfortunately, put a strain on many relationships and this has resulted in more homes going on sale as a result of divorce and/or separation". READ | Should you fix your interest rate, now at a historic 50-year low? Where it used to be the kitchen and bathroom that influenced the final purchase decision, these days fibre connectivity, leisure amenities and a greater greener footprint are top of the list,” he says. “This change in work environment has dramatically evolved the way home buyers evaluate prospective properties. This thorough report on the US rental housing market for 2020 and 2021 offers stats, insights, and trends happening as we head toward 2021. South Africa's government officials are calling for stricter measures to curb soaring coronavirus infections that have topped one million. Seeff adds, “Airbnb rentals will remain under pressure until international tourism regains strength, expected only by mid-2021 onwards as most of our tourist markets are seeing a resurgence, hence the market will be driven by domestic bookings and limited international visitors. South African property market: A live forecast for 2020 Despite an economically tumultuous 2019, followed by pandemic-plagued 2020, home buyers have reason to be optimistic about a currently resurgent market. While the move to live-streamed virtual auctions has been successful for Broll, with more Investors participating due to ease of use and the high convenience factor, it is not clear if this trend will continue to flourish across the industry. Buyers are now often around 34 and up - a trend supported by home loan application statistics. COVID-19 has accelerated change in the property industry, focusing sharply on safety, socio-economic disparity, and wellness amid a backdrop of global economic uncertainty. Standard Bank reports that their approval rates for July increased from 54.19% to 55.89%. A combination of pent-up demand and historic low interest rates encouraged home sales in certain areas and price brackets to such an extent that some of the top franchises recorded record high sales. The political situation may also be a positive factor on the basis that there will be a significant clean up of the corruption that has been identified. Golding also adds that home buyers across all age groups are also becoming increasingly conscious with aspects such as energy and water efficiency and sustainable use of materials at the top of the wish list. Property choices will move to “more multi-generational living including in new developments, more creative retirement solutions for the 50-plus age upwards, high demand for security complexes and estates, school suburbs will continue in high demand and attract good prices, semigration for lifestyle and security reasons, suggests Seeff. 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