The residential property market has had its ups and downs during 2016 as the economy stagnates, the Reserve Bank started hiking interest rates again and consumers struggle with household debt-to-income.

While political and economic uncertainty is likely to continue across the globe next year (2017), it is hoped that local economic growth will be modestly stronger, which will be more supportive for the South African housing market, says Dr Andrew Golding, CE of the Pam Golding Property group.

Quarterly property statistics released by ooba, South Africa’s largest bond originator, show that residential property price growth is slowing as the supply of residential property outstrips purchasing demand.

2nd Quarter 2016 SARB New Mortgage Lending data showed a 2nd consecutive quarter’s year-on-year decline.

Fairvest Property Holdings Limited (“Fairvest”) today announced a full year distribution of 16.660 cents per share, which represents a 10.29% increase on the comparable period and again exceeded the guidance previously issued.

JSE-listed diversified real estate investment trust Redefine Properties (JSE: RDF) has successfully raised Euro 150 million through the launch of a five year exchangeable bond programme to be listed on the Frankfurt Stock Exchange, with the proceeds to be used in part settlement of the bridge facility used to fund its recent investment into Poland.

Growthpoint Properties Limited today posted distribution growth of 6% for its full year to 30 June 2016, delivering results at the top of its market guidance.

The Pivotal Fund Limited (‘Pivotal’), a development focused property fund, today confirmed that it has entered into an agreement with Redefine Properties Limited (“Redefine”), in terms of which Redefine has offered to acquire all of Pivotal’s issued shares from Pivotal shareholders.

Germany-focused business park owner Sirius Real Estate is raising up to EUR20m by a private placement of new ordinary shares to fund various acquisitions.

Thursday, 02 June 2016 14:48

Gooderson earnings slide as revenue grows

Gooderson experiences some disappointing years since it relisted on the JSE in 2006.

Page 6 of 9

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