South Africans are selling to buy smaller homes as costs increase

The costs of running a home are making smaller properties far more attractive to South Africans.

More and more old people are downscaling while fewer people are moving into larger houses.

This is according to John Loos, a Property Economist at FNB.

A mere 13% of sellers during the second quarter of 2015 did so in order to buy a larger home. This is down from 17% in the first quarter and the high of 20% reached at the end of 2013.

About 30% of all sales in Q2/2015 was in order to downscale.

Scroll down to listen to The Money Show presenter Bruce Whitfield’s interview of Loos.

South Africans are becoming more conservative when it comes to property.

John Loos, a Property Economist at FNB

We expect interest rates to rise. But this is more about general running costs.

John Loos, a Property Economist at FNB

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Bloomberg makes fishy discovery when visiting Charles King (new owner of Tegeta)

Bloomberg makes fishy discovery when visiting Charles King (new owner of Tegeta)

Why is its registered address that of a violin shop? Bruce Whitfield interviews Intellidex’s Stuart Theobald.

5 reasons your expenses feel so much more (than the 4.6% inflation rate)

5 reasons your expenses feel so much more (than the 4.6% inflation rate)

The Money Show’s Bruce Whitfield interviews Econometrix Treasury Management Director George Glynos.

This sport requires you to run, drive and fight all while remaining seated

This sport requires you to run, drive and fight all while remaining seated

eSports are more than just a game now and may even be an Olympic sport by 2024.

'Insecure? Underendowed? We’ve got the car for you!'

'Insecure? Underendowed? We’ve got the car for you!'

The Money Show’s Bruce Whitfield interviews branding and advertising expert Andy Rice.

I want to ride my bicycle! I want to ride my bike!

I want to ride my bicycle! I want to ride my bike!

The business of cycling... The Money Show’s Bruce Whitfield interviews Team Dimension Data’s Doug Ryder.

Why you need a pension fund (or retirement annuity) even if you own a house

Why you need a pension fund (or retirement annuity) even if you own a house

Many people falsely believe they do not have to save for retirement because they own the home they live in.

Popular articles
5 reasons why South Africa granted Grace Mugabe diplomatic immunity

5 reasons why South Africa granted Grace Mugabe diplomatic immunity

 Simon Allison, Africa Editor at the Mail & Guardian explains the political considerations behind Mugabe's diplomatic immunity.

"ANN7 and  New Age sale is effectively a transaction between  Manyi and Guptas"

"ANN7 and New Age sale is effectively a transaction between Manyi and Guptas"

Phillip de Wet, Associate Editor at Mail & Guardian breaks down the sale of Gupta owned ANN7 TV Station and The New Age paper.

This is incredibly embarrassing for both countries - SAIIA Head of Governance

This is incredibly embarrassing for both countries - SAIIA Head of Governance

On Saturday international relations minister Maite Nkoane-Mashabane granted diplomatic immunity to Grace Mugabe.

Read and weep: 10 of the most expensive houses in South Africa

Read and weep: 10 of the most expensive houses in South Africa

These super luxury houses with enormous price tags will induce some serious house envy.

44 drivers arrested for drunk driving in WC traffic blitz

44 drivers arrested for drunk driving in WC traffic blitz

Western Cape provincial traffic chief, Kenny Africa gives traffic updates of what he described as a very hectic weekend in the WC.

Grace Mugabe immunity: SA between ‘rock & hard place’

Grace Mugabe immunity: SA between ‘rock & hard place’

Professor Christopher Landsberg has praised the International Relations and Cooperation Minister for her 'honest approach'.

[Watch] John Maytham shuts down victim shamer on air

[Watch] John Maytham shuts down victim shamer on air

A caller wanted to know what the alleged victim had done in order for Grace Mugabe to assault her.

Meet Bonang Mohale, BLSA's outspoken (‘don’t blame colonialism’) Chairperson

Meet Bonang Mohale, BLSA's outspoken (‘don’t blame colonialism’) Chairperson

The Money Show’s Bruce Whitfield interviews Business Leadership South Africa’s Mohale for his weekly “ShapeShifter” feature.