The recent ruling by the Supreme Court of Appeal where the body corporate of Gardens Lodge in Cape Town was found to have charged a “patently exorbitant” interest rate on levies that were outstanding.

The value of outstanding credit balances in the South African household sector increased by 5,9% year-on-year (y/y) to R1 653,3 billion up to the end of February 2019 (3,9% y/y at end-February 2018), with growth in total credit balances as well as secured and unsecured credit balances remaining unchanged from end-January. 

Following various announcements made by Edcon over recent months in relation to the recapitalisation of the business, the Group has advanced the process sufficiently to provide a further update to all stakeholders. 

The value of outstanding credit balances in the South African household sector increased by 5,7% to R1 630,2 billion in 2018 after rising by 3,8% in 2017.

After falling to 29 in 2Q2018, the FNB/BER Building Confidence Index was unchanged in 3Q2018.

The South African division of leading independent global real estate consultancy, Knight Frank, has appointed John Jack as the new Chief Executive Officer.

The FNB/BER Building Confidence Index lost 14 points to register a level of 29 in 2Q2018. This is the lowest since 2Q2012.

Today’s (28 March 2018) announcement of an interest rate cut of 25bps, coupled with Moody’s decision to not only leave South Africa’s credit rating unchanged at one notch above junk status, but to also upgrade the outlook from negative to stable, are positive factors which should provide welcome stimulus for the residential property market, says Dr Andrew Golding, CEO of the Pam Golding Property group.

After a four year high of unprecedented double-digit growth, South Africa’s strongest market took a knock in 2017 with a significant drop in sales volumes and price growth, but the new year has got off to a promising start with a record apartment sale price and three sales within 24 hours of listing.

After months of decline, trading densities across 2.2 million m² of physical retail space in seven provinces of South Africa and in Namibia are trending towards growth, according to an industry barometer.

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