FANews
FANews
RELATED CATEGORIES
SUB CATEGORIES Featured Story |  Straight Talk |  The Stage | 

Township property insights

20 April 2006 Angelo Coppola

Demand is outstripping supply when it comes to the township residential property market, and affordability remains good, says the latest findings from the FNB Residential property barometer.

Three areas were looked at in the old stock sector showed good activity, slightly higher than the general activity levels. There is still a positive vibe in these areas Gauteng, Cape, KZN, and the privately owned market is the most activity.

For the next quarter the property professionals say that the privately owned new developments will be the growth area.

In terms of the council houses activity, he says that older people live on these properties, with the younger people looking at the new developments. There is also a moratorium of five years on the council houses being transferred.

Gauteng shows that there are seven buyers to one property, Cape Town eight to one and the Durban numbers are unnaturally high at 16 buyers to one.

Property prices nationally in the townships range from R145k (Gauteng council-owned) to R275k (privately owned Gauteng houses). While Cape Town averages at R2178k and Durban comes in at R208k.

In Gauteng first time buyers represent 57% of buyers, while women account for 51% of the township property buyers.

Quick Polls

QUESTION

How confident are you that insurers treat policyholders fairly, according to the Treating Customers Fairly (TCF) principles?

ANSWER

Very confident, insurers prioritise fair treatment
Somewhat confident, but improvements are needed
Not confident, there are significant issues with fair treatment
fanews magazine
FAnews June 2024 Get the latest issue of FAnews

This month's headlines

Understanding prescription in claims for professional negligence
Climate change… the single biggest risk facing insurers
Insuring the unpredictable: 2024 global election risks
Financial advice crucial as clients’ Life policy premiums rise sharply
Guiding clients through the Two-Pot Retirement System
There is diversification, and true diversification – choose wisely
Decoding the shift in investment patterns
Subscribe now