Market split: sectional titles make up 59% of all Cape Town property sales.
A report on the KZN property scene in Industrial & Business holds that we are in a buyers’ market at present: there are more homes listings for sellers to compete with and fewer interested buyers: the result is that it takes longer to sell, currently twenty-one weeks in KZN. In Pretoria this turnaround time is as short as eleven weeks. Nationally the average time on the market is twelve weeks, which is better than the seventeen weeks that was recorded for the final quarter of 2017.
This take is supported by Standard Bank’s HPI, which deals with national median property prices, and which has dropped slightly, meaning that properties have become more affordable. The IOL report that deals with this, also says that banks have become more lenient with their lending requirements, with more 100% home loans being granted than before.
National building regulations: zoning decisions lie within the competence of a municipality. A decision by a municipality on the approval of building plans cannot be reviewed by the National Building Regulations Review Board.
