{"id":588052,"date":"2022-05-19T12:27:17","date_gmt":"2022-05-19T10:27:17","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=588052"},"modified":"2022-05-19T12:27:17","modified_gmt":"2022-05-19T10:27:17","slug":"big-shift-in-south-africas-housing-market-is-good-news-for-these-types-of-home-owners","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/588052\/big-shift-in-south-africas-housing-market-is-good-news-for-these-types-of-home-owners\/","title":{"rendered":"Big shift in South Africa’s housing market is good news for these types of home owners"},"content":{"rendered":"

The Pam Golding Residential Property Index highlights some ongoing shifts in the national housing market. These include the fact that the Covid-induced boom in freehold residential property price inflation continues to fade when compared with sectional title, with the gap narrowing to a revised 2.4% in April 2022, having peaked at 3.9% in March 2021.<\/p>\n

\u201cThis would indicate that the convenience factor and appeal of lock-up-and-go sectional title properties<\/strong> in prime locations and hubs<\/strong> around the country, including those in vibrant mixed-use developments and in lifestyle estates,<\/strong> has re-emerged as everyday life more or less returns to normality,” said Dr Andrew Golding, chief executive of the Pam Golding Property group.<\/p>\n

“This has offset, to some degree, the increased demand seen during the early waves of Covid for properties with more living and open space.”<\/p>\n

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The index also shows that while non-coastal residential property price growth has slowed sharply to 4.8% in January 2022 (latest data), price growth of coastal homes (located within 5km of the coastline) remained steady at a robust 6.8% that month, revealing that the coastal price premium widened to over 2% for the first time since early-2018.<\/p>\n

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Dr Golding said that this would indicate an increased demand for homes along South Africa\u2019s extensive, scenic coastline, which offers a wide variety of highly appealing locations from metros to tranquil hamlets, as well as an ongoing trend towards semigration for a host of reasons.<\/p>\n

“Apart from those seeking immediate or future retirement, a leisure property, or a more balanced lifestyle \u2013 including those with young families, due to its very nature coastal property has and always will enjoy a strong demand, particularly as many continue to be able to work from home in a preferred location.”<\/p>\n

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While house price growth in all major metro housing markets is now slowing, Nelson Mandela Bay remains the top-performing market with a recent data revision by Lightstone showing a renewed acceleration in house price inflation of 7.6% in January 2022.<\/p>\n

Among the major metro housing markets, Ekurhuleni continues to outperform with growth of 6.3% in January 2022, while Tshwane is also showing resilience with house price growth of 5.1%. These two Gauteng metro housing markets are followed by Cape Town at 4.6%, eThekwini at 4.3% and Johannesburg at just 2.6%, said Pam Golding.<\/p>\n

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Read: New lagoon \u2018beach\u2019 for Joburg in 2023<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

While Covid-induced boom in freehold prices fades, coastal properties continue to benefit, says property group Pam Golding<\/p>\n","protected":false},"author":10,"featured_media":517632,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[26,10618],"class_list":["post-588052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-headline","tag-pam-golding"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/588052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=588052"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/588052\/revisions"}],"predecessor-version":[{"id":588140,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/588052\/revisions\/588140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/517632"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=588052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=588052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=588052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}