Latest Property Report – 1st quarter of 2018

Latest Property Report – 1st quarter of 2018

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.

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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.

CONCLUSION

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.

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Source:  John Loos FNB Property Barometer

This has been distributed by Chas Everitt Cape Town South

New South African plug standard is mandatory for new installations

New South African plug standard is mandatory for new installations
South Africa’s new plug and socket standard, SANS 164-2 or ZA Plug, has become mandatory for new installations, the SABS confirmed to MyBroadband.

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.

The switch

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.

Old standard still legal

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.

Article source

Innovative local students launch online textbook resale platform

Innovative local students launch online textbook resale platform

Bramble is an online platform aimed at connecting students wanting to sell or buy textbooks, as well as physical and electronic notes. This not only allows students to earn an extra income, but it also makes the learning process a whole lot easier.

As students ourselves, we understand the real life of a student and we hope to give you more room for the good life, more time for studying and, most importantly, more money at the end of the month.

The Bramble platform has one major beneficiary,

– the students.

We hope that the creation of a platform that allows students to set their own prices will allow shopping for textbooks to be more affordable and less stressful.


This post is sponsored by Chas Everitt International 

Christmas Afternoon Tea

Christmas Afternoon Tea

Last Afternoon Tea party for the year! Celebrate Christmas with an Afternoon Tea in the Terrace/ Lounge/ Patio – weather permitting.

Venue: Terrace Restaurant, Lounge & Patio, Kelvin Grove, 144 Campground Rd, Newlands
Catering: A selection of festive teatime treats will be served and sparkling wine can be purchased on the day.
Entertainment: Pianist
Cost: R110.00 per person

Date: 13 December 2017

More Information

This post is sponsored by Chas Everitt Cape Town South

 

 

SOCIAL MARKET @ THE CLAREMONT

SOCIAL MARKET @ THE CLAREMONT

The Market offers a variety of Local Art, Unique Craft, Fashion, Design, Food, Coffee, Drinks and Live Music.

Traders have a chance to network with other traders while promoting their craft. It is perfect for Hipsters, Fashionistas & Art Lovers. This is where they can find bespoke items, vintage threads, tasty food, coffee and specialist drinks. The Social Market @The Claremont is where everyone can unwind and enjoy the lovely treats while browsing through the craft stalls. We aim to promote and celebrate the creative community and would like to cater for all individuals with the love for all things beautiful.

Trading Dates:

Last Sunday of the month
10am-3pm

More Information

This post is sponsored by Chas Everitt Cape Town South

 

The ‘Burbs Festival

The ‘Burbs Festival

The Burbs Festival is proud to bring you our very first craft event right here in the heartbeat of the Southern Suburbs at Maynardville Park, Wynberg Chelsea on 21 October from 11am – 9pm. Festival goers can expect a variety of craft beers and ciders on tap, as well as some amazing gin cocktails and G&T’s.  Food vendors will be on site to meet all your culinary needs.

With Darling Brew as our featured craft beer supplier and guest brewer Alpha Lager, this experience promises to be the first of its kind in the ‘burbs. For those with more of a preference to ciders, we have partnered exclusively with Alpha Ginger and Dry Cider. We will also have a variety of wines available to our wine lovers as well as a tasting area. Adults – Early bird tickets are R65 and include a free drink of choice to the first 1000 festival goers on arrival. All festival ticket holders will receive a wine tasting passport (four tasters)
Kids – R40 for kids aged between 7 – 14 years and kids under 7 years enter for free. All kids under the age of 18 to be accompanied by an adult.

Source

This post is sponsored by Chas Everitt Cape Town South

 

Waterwise properties highlighted in marketing initiative

Waterwise properties highlighted in marketing initiative

Chas Everitt Cape Town South is the first company in South Africa to highlight waterwise properties.
“This step recognises the substantial investment that many sellers have made in their properties with regard to water efficiency as well as independent water sourcing and storage solutions.

These efforts and investments can cost hundreds of thousands of Rands and a mere passing reference in the property description fails to draw sufficient attention to the investment which has gained enormous importance as the drought has become a crisis in our region.  This ‘waterwise’ marketing campaign further serves to raise the awareness of the water situation in our region.  We are encouraging other real estate businesses to embrace the idea and follow our lead and use the waterwise logo in their marketing.

Sellers and buyers have already responded very positively to this initiative and we are highlighting these properties in our listings on www.CEI.co.za as well as www.CapeTownProperty.com and www.Constantia.co.za

Example:

 

Halloween Fundraiser AFL (Academy for Learning)

Halloween Fundraiser AFL (Academy for Learning)

It’s that time again!!! Halloween is coming for you… Join us for a night of bewildering and bewitching with the added bonus that this event is a fundraiser for the Academy for Learning. Dress up, show up and expect a night you will never forget. This is our 3rd year running and we can’t wait to show you all the new spooky tricks we have discovered. Invite friends and family and come get that blood pumping! Remember to bring your own drinks and cash for food and games!

Academy for Learning provides a unique and specialized environment for children who learn differently. We create a space that makes learning fun and exciting but more importantly more accessible for each specific child. Help us provide more state of the art technology to their classrooms. We are saving for a Smart Board!

This post sponsored by Chas Everitt Cape Town South

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Operated and managed by eNeighbourhoods, this service is sponsored by Chas Everitt Cape Town South as a service to the community.  Our brief is to provide and share local content of interest to the various areas in the Cape Town South area through the various blogs to the benefit of the community and the sponsor.  It is further the intention to offer at no cost to the members of the community the facilities of the blog.   Other businesses and organisations thus have a powerful and effective means to share their news at no cost.

If you or your organisation has a newsworthy item or promotion that you wish to share, you may submit the information by email, in a way that we can copy and share together with one or two suitable images.  You should also indicate what suburbs you wish this to be shared with however the suburb or suburbs must correspond to the content of your news.

We particularly encourage the submissions of any special offers and benefits, as this serve everyone’s interest very well.

eNeighbourhoods reserves the right to decline any submission at our sole discretion.  Email your submissions to news@eneighbourhoods.co.za