Neighbourhood 16 DECEMBER 2018
PROPERTY & LIFESTYLE
To buy, or not? High living costs, load shedding, political uncertainty, rising interest rates... This may paint a bleak picture, but the tides will turn post-elections, property experts say, page 2
2
TRENDS 2019: THE FUTURE OF REAL ESTATE
yourneighbourhood.co.za
4
BUSINESS Q&A
Connecting homeowners with great communities
2
PROPERTY NEWS
16 DECEMBER 2018
Neighbourhood
Suburb focus
RSA
Real estate: what lies ahead? Property experts agree that many prospective property buyers and investors are deciding ‘to wait and see’ how things turn out before making any further commitments to the South African property market. But is there a flicker of light at the end of the tunnel? WORDS: BETSIE LOOCK-VAN DER MERWE
IMAGES: SHUTTERSTOCK
T
he housing market has also felt the effects of global and local deteriorating economies and political uncertainty in the country over the past year. Berry Everitt, CEO, Chas Everitt International property group, says he’s not really surprised that many potential buyers delay their decisions. “A positive outlook is currently being blurred by various other problems that are also the legacy of state capture, including bankrupt or nearlybankrupt, state-owned enterprises, low GDP growth, high unemployment, crime and corruption. Millions of South African consumers are also taking financial strain because of the VAT increase in April, the high fuel prices, and the ever-rising cost of electricity and other utilities.” he says.
CURRENT VALUE-FORMONEY RESIDENTIAL AREAS* • East Rand – experiencing the strongest recovery among Gauteng metro markets • Randburg and Joburg South to the greater Fourways region • Equestria, Moreleta Park and Mooikloof Ridge in Pretoria • Amberfield and Raslouw in Centurion • Amanzimtoti in the eThekwini Metro on the outskirts of Durban • Certain parts of Glenwood and Morningside in Durban • Western Cape areas of Parklands on the West Coast; Burgundy Estate between Cape Town and Durbanville Hills; and 10 minutes from Century City * Source: Dr Andrew Golding
South Africa’s residential market is in for an interesting time in 2019, but our predictions for the year as a whole are positive, and we believe that homebuyers and investors who take the plunge and buy early, will be well-rewarded BERRY EVERITT, CEO, CHAS EVERITT INTERNATIONAL PROPERTY GROUP
• Need for value-for-money, affordable housing • Convenience of location and fuel price – closer to work, school and retail • Young buyers of the future – lock-up-and-go, under R1m, no maintenance • Developing key-growth nodes close to facilities away from main nodes • Mixed-use developments – work, live, play at the same address close to public transport • Emerging trend of retirees opting for flexible, active living within an existing and secure residential estate with a host of activities * Source: Dr Andrew Golding
1st Floor, Block H, Sable Square cnr Bosmansdam and Ratanga roads Milnerton, Cape Town
Both Everitt and Golding highlight the role of the upcoming 2019 general election as significant in potential buyers’ decision to postpone their property purchases.
Elections Adrian Goslett, regional director and CEO, Re/max of Southern Africa, says a lot will hinge on the outcome of the elections. “Leading up to the elections, I predict that house-price growth will be slow, as people await to hear the results before making commitments. Properties are, therefore, likely to stay on the market somewhat longer for the first and second quarters, especially those properties in the high-end and luxury market.”
TRENDS EXPECTED TO IMPACT THE MARKET IN 2019*
PUBLISHED BY TIMES MEDIA PROPERTY PUBLISHING
According to Dr Andrew Golding, CEO, Pam Golding Property group, statistics reveal a slight increase in financially stressed households selling to downsize or who then opt to rent rather than buying a smaller property. “Whatever the price band, value for money is a recurring theme for first-time and repeat buyers alike,” he remarks.
Consequently, Goslett predicts that 2019 will likely present the best opportunities to buy if you get in during the first six months. “I anticipate reinvestment (local and foreign) in the country post-election if the fight against corruption continues and tough decisions are made, which I do believe will happen. Greater stability should lead to consumer confidence and with
that a more buoyant real-estate market. I therefore predict that the market will turn a positive corner post-election.” Everitt agrees, “We’re anticipating a surge in prices following the elections, which will mean that buyers have to earn more to afford the homes they want, take out bigger bonds and pay higher monthly instalments. In addition, they will have missed out on the substantial value growth that they would have gained by buying now, while prices are still relatively suppressed.”
Constructive considerations Everitt says buyers and investors should not allow the current unsettled state of the global and local economies to cloud their vision of long-term gains. “With the weaker pound and dollar being good for the rand, and oil prices at very low levels, it helps to contain inflation, lowers the likelihood of another interest rate hike early 2019, and is a positive for economic growth and job creation. It’s also expected to give a further boost to local home demand and sales.” Everitt is optimistic about President Cyril Ramaphosa’s performance thus far to attract foreign and corporate investment. “The president has also secured pledges from business and labour to help create at least 275,000 new jobs a year for the next five years. We also have a finance minister now who is firmly committed to containing government spending and bringing down the national deficit, so although it’s a long road back to prosperity for SA, there’s growing confidence that we’re going in the right direction.” Says Golding, “There are currently still areas of growth and opportunities in the market, although not necessarily the high-end suburbs, but the more affordable areas which are within reach of South Africa’s numerous less affluent and first-time buyers.” Another example is towns formerly considered holiday towns which are now attracting permanent residents. “It’s now the turn of the more affordable, less popular towns and suburbs to recover.”
EDITORIAL TEAM:
ADVERTISING SALES:
Group Editor: Carla Redelinghuys carla@yourneighbourhood.co.za Senior Sub-Editor: Marana Brand Designers: Anja Bramley & Samantha Durand Visit yourneighbourhood.co.za
Call us for advertising opportunities on 087 828 0423 Production: Lucea Goosen lucea@yourneighbourhood.co.za Online coordinator: Chantelle Balsdon chantelle@augmentcreative.com
20964
KNOW HOW MUCH YOU QUALIFY FOR
AND SHOP FOR YOUR DREAM HOME WITH CONFIDENCE The Nedbank
INSTANT BOND INDICATOR
does credit and affordability checks and lets you know instantly the home loan amount you could qualify for. ANOTHER WAY WE GET YOUR MONEY TO BACK YOU Visit nedbank.co.za/homeloans and click on ‘Instant Bond Indicator’.
Terms and conditions apply. | Nedbank Ltd Reg No 1951/000009/06. Authorised financial services and registered credit provider (NCRCP16).
DECADES OF AUTHENTIC
AUDIO.
STREAM AWAY THIS FESTIVE SEASON
HEOS SOUNDBAR
R17 190
HEOS HOME CINEMA
R20 690
R13 290 R15 990
HEOS 7 WIRELESS SPEAKER
R8 990 R10 990
HEOS 3 WIRELESS SPEAKER
HEOS AMPLIFIER
R6 590
R10 990
R5 490
R8 990
HEOS 5 WIRELESS SPEAKER
HEOS WIRELESS SUBWOOFER
HEOS 1 PORTABLE WIRELESS SPEAKER
R8 790
R14 290
R4 990
R7 290
R11 890
R3 990
*Deals valid for the month of December 2018
Please contact us for your nearest authorised Denon HEOS dealer. 011 781 8887 • heos@denon.co.za • www.denon.co.za
Denon HEOS Sunday Times Neighbourhood Ad 11 December 2018 v2.indd 1
2018/12/12 9:48:58 AM
4
PROPERTY NEWS
16 DECEMBER 2018
Neighbourhood
My business neighbourhood Classy Kitchen is a proudly South African business offering clients a range of deli goods, body-care products and homeware WORDS: TIVANIA MOODLEY
IMAGES: SUPPLIED
A
dash of inspiration is usually the catalyst for starting a business. For Lisa Ortmann, inspiration was combined with the love for family, home and food, which gave rise to her business Classy Kitchen. Q: How did your business start? A: I’ve always been inspired by spending time in the kitchen trying new recipes, tweaking old ones and learning from family members. I love all things related to home and food and started my business as a way to bring families together. Q: Why did you choose this area to set up shop? A: I operate from my parents’ kitchen in New Hanover and it’s an idyllic countryside setting where I can immerse myself in my work. Q: Why are they ideally suited to your business? A: The kitchen space in my parents’ home is conducive to the small batch of personalised goods I produce, which cannot be found in massproduced bottles and jars. I’m also fortunate to save on rental fees. Q: Who are your neighbours? A: Being on a farm, there are no neighbours close-by. I am
Rock out! The Angostura rock shandy is our top summer refresher and an iconic South African recipe
L
et the bitters do the talking… the essential ingredient for that extra depth of flavour. It’s this simple…
Ingredients
½ can soda water ½ can lemonade 4–6 dashes Angostura aromatic bitters lime wedge
Here’s how
Build ingredients over ice, dash with Angostura aromatic bitters, stir, garnish with a lime wedge, and serve.
Get your hands on a bottle of Angostura aromatic bitters at any major liquor outlet countrywide
surrounded by an eucalyptus forest and an empty building dating back to the early 1900s. Q: How many people do business with you each day? A: I work on a wholesale business model and currently stock 20 stores across South Africa. The general public can purchase directly off my website. Q: Do you have any expansion plans? A: I plan on setting up a proper store and introducing more products. Q: Do you operate online as well? A: I have a website and active social media pages on Facebook and Instagram (@classykitchenza). Q: What’s your most popular item? A: My homemade wholegrain mustards are always the most popular items. Also popular are my newest additions of ceramic stem vases and a range inspired by all things citrus, specifically citrus essential oils.
SEE FOR YOURSELF: Classy Kitchen 079 472 1051 classykitchen.co.za
orest ack to
ss
model cross c can e.
lans? ore s.
l? al
.
em? stards
west s and trus, .
Pearls Mall
would like to wish all our patrons a blessed
n o s a e s e v i fest
The first-ever Ritu Kumar store in South Africa has opened. Select your dazzling outfit from this renowned international designer collection to bring in the New Year. 17th December: Visit our first Christmas Night Market from 4pm – 9pm and enjoy live music and a selection of craft beers and gin as well as handmade basket-ware and clothing. 22nd – 24th December: Be entertained by live music while doing your Christmas shopping at Pearls Mall.
Enjoy festive cheer and a sizzling summer holiday at Pearls Mall www.thepearls.co.za | facebook.com/thepearlsmall 800 parking spaces available | 45mins FREE parking | Ample secure parking close to the beach General trading times: Mon – Sat: 09h00 – 18h00; Sun & Public Holidays: 09h00 – 16h00 Festive Season trading times: Friday, 21 December: 09h00 – 19h00; Sunday, 23 December: 09h00 – 17h00; Monday, 24 December: 09h00 – 19h00
Milos
HELLO ORANJEZICHT
WHERE YOUR WORLD IS JUST DOWN THE ROAD
From R1.95 million
incl. VAT (no transfer duty)
Urban living in heritage-rich Oranjezicht, Cape Town. Key Features: • Panoramic Table Mountain views • Walking distance to Kloof Street restaurants • 21 exclusive apartments • Communal braai and pool deck • Floor-to-ceiling glazing • 2 penthouses with private roof decks
RESIDENTIAL
www.TheAster.CapeTown David - 072 385 4386 Catherine - 074 384 3127 Office - 021 425 8586
CONS CI OU S LI V I NG