Centurion has come a long way from being the sleepy southern suburb of Pretoria with its smallholdings and large open spaces. Today it is one of the fastest growing cities in South Africa with a population of over 240 000.

Adjustments to transfer duty on property in the 2016 national Budget are to impact only the upper end of the residential property market.

The latest ruling by the Supreme Court of Appeal relating to rates and taxes on a property is most concerning for property buyers and could have lasting implications regarding the risk of ownership. 

Despite the recent hikes in interest rates, property on the West Rand remains reasonably priced when compared to the CBDs of Sandton and Rosebank. 

Dr Andrew Golding CEO of Pam Golding Property Group and CEO of Jawitz Properties Herschel Jawitz comment on the impact of the 25 basis point interest hike on the property market.

Property doyens comment on the impact the 50-basis repo rate increase will have on property.

Despite a weak economy and continued pressure on disposable income, the residential property market is showing a marked increase in activity and demand across all price levels, according to Jawitz Properties CEO Herschel Jawitz.

The current lending climate is tough for first time buyers particularly with the stringent National Credit Act requirements and the worldwide recession affecting banks and how strict they are when it comes to approving home loans.

The low interest rate environment and slow growth in property prices make it a good time to buy from a value and affordability point of view. 

Homeowners in Cape Town must check their new municipal property valuations carefully to ensure they won’t be charged excessive property rates going forward.  The new valuations are being finalised in January and will be sent out in February. Objections to the given valuations can be made, but there is only a short time to do so.