Real Estate Investor Magazine South Africa November 2013 | Page 23

REI Residential

Purchases Prices Are Up
In September, the Average Purchase Price
recorded by ooba, South Africa’s biggest
bond originator, was R896,258, up 2.2%
on R876,717 recorded in September the
previous year, although marginally down on
the R905,200 from the previous month. The
Average Purchase Price for First-Time Buyers
was R674,590, up 2% year-on-year. According
to ooba’s latest statistics, the Average Deposit
recorded in September, at R126,630, is 14.1% of
the purchase price, down from 17.9% recorded
in September 2012 and down from 15.0% in the
previous month. In September, 53.7% of ooba’s
total bond applications were from first-time
buyers, which is similar to the ratio of 53.9%
recorded in September 2012, but 2.6% higher
month-on-month.

More Tenants Pay On Time

Valuable Input
Adrian Goslett, CEO,
RE/MAX
“The credit amnesty bill will positively affect many consumers
who are currently unable to obtain credit, or in some cases jobs,
due to the fact that they are blacklisted.”
Bruce Swain, MD,
Leapfrog Property Group
“Gone are the days when the average person could put a decent
deposit on the table when purchasing a property; these days
people need to borrow more in order to buy their own home.”

www.reimag.co.za

According to the latest TPN Rental Payment
Monitor, the second quarter of 2013 saw the
highest percentage of residential tenants in
good standing since 2007. Nationally, 71
percent of tenants paid their rent on time and in
full, four percent paid within a grace period of
up to seven days, and 11 percent paid late.
Francois Venter, Director of Jawitz Properties,
says this adds up to 86 percent of tenants being
in good standing. Gauteng has the most rental
accommodation, with 41 percent of South
African households renting in the province. He
says the report indicates that Gauteng tenants
are now on par with the national average of
tenants in good standing - this being the first
time since the inception of the Rental Payment
Monitor.
November 2013 SA Real Estate Investor

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