Your weekly Property Updates: Mid-November Edition!
Happy Friday, Property Enthusiasts!
We're almost at the finish line for 2024! With only a month to go until the industry's annual builders' holidays (from Friday, 13 December to Monday, 13 January 2025), now's the time to wrap up the year on a high note.
We kicked off the week with a packed webinar discussing "The Construction Mafia in South Africa" – a hot topic for property developers, investors, and anyone invested in the sector. If you missed it, don’t worry! You can catch up on the full discussion here.
In other highlights, we chatted with Deon van Zyl from the Western Cape Property Development Forum, diving deep into the complexities of developing in today’s market. The ever-growing demand for government tenders continues to stir up some serious challenges for developers. The full interview is worth a watch!
💡 Top News Highlights for Property Investors:
Steady Housing Demand: South Africa’s young population continues to provide a strong, ongoing demand for housing. The economic stability we're starting to see, coupled with easing inflation, is helping create a positive environment for the housing market.
Interest Rate Outlook: The MPC meets next Thursday, and all signs point to a 25-basis-point rate cut, which would offer much-needed relief for homeowners and property investors alike. Despite the rand's recent struggles, this cut could help keep the momentum going for the property market into 2025!
Global Economics Impact: The global stage remains a bit rocky, especially with the US dollar hitting a one-year high, pushing the SA rand down to R18.39. Many eyes are on how Donald Trump's latest moves (including appointing Elon Musk to lead efficiency reforms) could shake up international markets. Stay tuned for potential ripple effects on our economy.
🗓 What’s Coming Up:
Webinar on Property Auctions: Don’t miss our next exciting webinar this Thursday at 12:00 PM as we explore ‘The Power of Property Auctions’—a must-attend for anyone looking to unlock the potential of auctions in today’s market. Book your spot now!
Due Diligence Tips for Property Practitioners: Mark your calendars for our second-last webinar of the year on Wednesday, 27 November at 12:00 PM. It’s all about due diligence—a crucial skill for property practitioners! Secure your seat here.
🏉 And… Go Springboks!
We’re all crossing our fingers for another Springboks win on Saturday against England! 🏆 Let’s keep that winning streak alive!
Let’s Keep Shaping the Future Together!
From all of us at REI, we’re excited to help you stay ahead of the curve. Let’s keep pushing forward and making the most of these opportunities. Here's to a prosperous 2025!
Have a wonderful weekend ahead, and catch you next week!
NEALE PETERSEN
Your Property Afficionado
