South Africans are buying smaller houses - research

Most South African property buyers are now buying small houses rather than big luxury homes.

Lightstone data and analytics director, Paul-Roux De Kock, says economic pressure is the major reason for this change.

If you look at the trends on the new stock coming on the market for the first time, the high value and luxury markets is down from about 5000 new stock per quota to about 4000 a year, the mid value market is relatively stable and the low value market is up from about 9000 to 10000 per quota.

Paul-Roux De Kock, Lightstone data and analytics director

Listen to the audio to hear how the property market works...


This article first appeared on 702 : South Africans are buying smaller houses - research


Recommended

by THE NEWSROOM
Read More
Demand for water-wise properties is skyrocketing

Demand for water-wise properties is skyrocketing

Head of Gumtree Property says drought conditions increasing demand for properties with boreholes, no lawns, and small gardens.

Corrupt housing officials to be dealt with

Corrupt housing officials to be dealt with

The City of Cape Town is investigating corruption allegations in Imizamo Yethu and the guilty parties will be dealt with.

New property owners no longer liable for previous owner's debt

New property owners no longer liable for previous owner's debt

The Pretoria High Court has declared the Section of Local Government Municipal Systems Act constitutionally invalid.

Collapsing homes in Hartenbos a private matter

Collapsing homes in Hartenbos a private matter

The municipality served residents living in the Seemeeu area with a 7 day notice in September.

Not so young anymore? How to invest for best growth (and least amount of tax)

Not so young anymore? How to invest for best growth (and least amount of tax)

Galileo Capital Financial Advisor Warren Ingram answers a frequently asked question.

Meet John Schooling: From broke PE teacher to property mogul

Meet John Schooling: From broke PE teacher to property mogul

John Schooling took his passion for creating student housing into the property business.

Need a home loan? Banks are requiring ever larger deposits

Need a home loan? Banks are requiring ever larger deposits

The Money Show’s Bruce Whitfield interviews BetterLife Home Loans CEO Shaun Rademeyer.

Money Matters: Why it is so difficult for young people to buy property

Money Matters: Why it is so difficult for young people to buy property

It is very difficult for young people for young people to buy property in South Africa. Igshaan Higgins describes the reasons behind this.

3 reasons to rent rather than buy a property

3 reasons to rent rather than buy a property

Weekend Breakfast's Financial Fitness coach Paul Roelofse points out there are reasons to rent a property before buying.

How investing a third of my salary every month is making me rich (and free!)

How investing a third of my salary every month is making me rich (and free!)

A supersaver explains how she managed to invest R2.6 million and turn it into a whopping R3.7 million.

4 beliefs about shares that keep you from growing wealthy

4 beliefs about shares that keep you from growing wealthy

4 popular, yet patently false, beliefs about stock market investing that's holding you back.

Popular articles
[LISTEN] Accidentally shared a nude on a WhatsApp group? Here's what you can do

[LISTEN] Accidentally shared a nude on a WhatsApp group? Here's what you can do

A woman mistakenly shared a naked photo of herself on a parent Whatsapp group and now it's gone viral.

De Lille: Additional water resources are not going to stop Day Zero.

De Lille: Additional water resources are not going to stop Day Zero.

The Level 6B water restrictions will come to effect on 1 February and residents are asked to use only 50 litres of water per day.

Punitive tariff hike for water guzzlers to hit CT households where it hurts

Punitive tariff hike for water guzzlers to hit CT households where it hurts

Harsher punitive tariffs on the cards as 'Day Zero' becomes a reality as the result of 60% of Capetonians who ignore water limits.

WATCH: Innovative spray limits toilet flushes and saves water

WATCH: Innovative spray limits toilet flushes and saves water

Loo Me is a simple yet effective scented foam that takes the yuck out of "mellowing" toilets preventing multiple flushes.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.