What a Week at REI!
Happy Friday, Property Fans!
It’s been an exciting week at REI, filled with key updates and developments that are shaping the property market. Here’s a quick roundup of what’s been happening:
Property Market Trends
The FNB House Price Index has risen to 1.2% y/y in January, signalling a steady recovery in the housing market. With the average loan-to-value ratio increasing to 95.1%, lending conditions are improving, and there’s cautious optimism among lenders. Buy-to-let purchases have risen to 12% of market activity, with the Affordable segment driving this growth and ensuring strong rental yields. You can download the report here.
Rising House Prices
South Africa’s average house price has soared above R1.6 million, driven by high demand and limited supply. Escalating construction costs and wage growth lagging behind property prices continue to push these numbers higher.
Expropriation Act in Focus
We had an insightful webinar yesterday discussing the impact of the Expropriation Act on the economy and property market, and potential legal changes. Thanks to everyone who joined us! You can access the recording here.
Save the Date - Upcoming Webinar
Mark your calendars for our next exciting webinar, where we’ll delve into how auction platforms, like High Street Auctions, can unlock property value, especially in times of economic uncertainty. You won’t want to miss it! Register now!
Where Strategy, Execution, and Growth collide
Success doesn’t come by chance—it comes from preparation meeting opportunity. As Gary Player once said, "The harder I practice, the luckier I get." Keep that in mind as we continue to innovate and move forward!
Wishing you a weekend filled with property action, resilience, and big ideas.
Let's make things happen!
NEALE PETERSEN
Your Property Afficionado
