Neighbourhood PTA - 06 September 2015

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Neighbourhood 06 SEPTEMBER 2015

PROPERTY & LIFESTYLE

What’s ON SHOW in Pretoria this weekend?

The

Best of Brooklyn

– Get the full list at yourneighbourhood.co.za

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Upmarket, established, and culturally alive Turn to page 08 for more

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MARKET MAGIC

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SPOTLIGHT: BROOKLYN

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BUILDING INSURANCE

Nationally, the largest property marketplace in South Africa

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GREEN MENLYN MAINE

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NEWS & LIFESTYLE

Neighbourhood

06 SEPTEMBER 2015

Editor’s Exclusive CLAIRE BARNARDO

Home sweet home

Marvellous markets Explore a variety of markets from relaxing family oriented to hip and happening or farm-feel markets across Pretoria WORDS: LISA DEWBERRY

IMAGES: ISTOCK & LISA DEWBERRY

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f you want to jazz up a mundane weekend routine, explore a different market in Pretoria each weekend. The market trend is on the rise again and the city has a wealth of uniquely-styled markets offering a variety of products and atmospheres.

Moreleta Village Market is a crafty adventure for the family

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t the start of the year we were still happily living in our rented two-bedroom apartment. We loved the place like it was our own and it was a seamless living space. But our busy toddler (never mind all the baby gear) had started to shrink the flat dramatically.

And we began thinking about a possible bigger place with a garden.

The reality was that there was very little stock of what we wanted in our area.

That coupled with the fact that buying a house is such a major decision that I almost expected it to be impossible and difficult. Then I randomly caught up with our original agent. A few days later she invited me to view a place.

When I walked into the house I knew that it belonged to us. Besides that ‘feeling’ it matched our specs exactly, even down to the fact that it was near a primary school. But we weren’t the only ones interested…

In buying property one of the things that plays a huge role is timing. You have to move fast. With multiple offers in for this place, I thought it was going to be up to fate. Then I remembered a friend who worked for the bond originator PUBLISHED BY THE CREATIVE GROUP 9 6th Street, Parkhurst, 2193 011 476 6293 thecreativegroup.info

Take a stroll with the family through the large, shady trees at the arts and crafts-focussed Moreleta Village Market at Kimiad Estate in Moreleta Park on the first or last Sunday of the month between 10am and 3pm. Indulge in comfort foods from their deli area, baked goods from the banting corner or meet the makers of antiques in their arts and craft section.

With 150 stalls, this market includes ceramics, paintings, antique collectables, bite size banting cupcakes and lamb spitbraai pitas. Husband and wife team Mercia and Pierre Van Tonder began the market in January to create a platform for creatives to display their talents.

ooba. That same afternoon he sent his top executive Yvonne to meet with us. She was excellent and mapped out all our options. Ooba then submitted our application to multiple banks and negotiated the best deal for us, at no charge. Literally within a couple weeks we bought our house on the terms that we wanted. We simply couldn’t have asked for a more magical homebuying story to tell. Hope yours is too.

Enjoy farm-feeling and fresh products at Boeremark

Experience the farm feeling in town, while stocking up on fresh produce, baked goods, plants and handmade crafts every Saturday from 5.30am to 9.30am at the Boeremark in Silverton. Ute van Wyk, market organiser, says when most people are sleeping, the Pioneer Museum homestead is filled with activity as vendors ready their stalls for the first regular buyers. Popular stalls at the market offer food such Melkos, Potbread, Vetkoek and Pap and Crackling. Vendors and visitors from Vryburgh, Warmbaths and Vereeniging travel to sell their goods or experience the atmosphere

FIRST-TIME HOME BUYERS

34

is the average age

53%

of ooba’s applications* *(July 2015)

THE CREATIVE GROUP CEO: Shaun Minnie shaun.minnie@thecreativegroup.info EDITORIAL TEAM Group Editor: Claire Barnardo claire.barnardo@thecreativegroup.info Creative Director: Mark Peddle

Editorial Consultant: Bridget McNulty Chief Copy Editor: Yaron Blecher Copy Editor: Charis Le Riche Art Director: Leah de Jager Designer: Megan Cooper Online Editor: Lauren Joubert

of this market, started 23 years ago by TLU SA, an agricultural organisation.

Capital Urban Market offers finest food and design items

Each first Sunday of the month 50 fine food and design artisans fill the lawns of Capital Urban Market in Menlyn Maine from 8am to 3pm showcasing handmade goods from design and fashion to food and drink items. This market has a relaxed vibe bringing together traders such as Whisk Away, an artisanal ice-cream vendor, TacoKombi, a Mexican food truck vendor, and Okoa, freshly ground Pretoria coffee vendor. Created in September 2013 by Werner Venter and Walter Language, landscape architects, this market is part of the Cool Capital citizen initiative, which aims to revitalise the city.

Showcasing handmade goods from design and fashion to food and drink items SEE FOR YOURSELF: Moreleta Village Market 083 514 5363 http://on.fb.me/1hVVhNy Boeremark 079 987 1025 pretoriaboeremark.co.za Capital Urban Market 082 091 8040 marketcapital.co.za

ADVERTISING SALES: Visit yourneighbourhood.co.za or call 087 828 0423 Sales & Marketing Manager: Michèle Jones michele.jones@thecreativegroup.info Neighbourhood Manager: Dylan Rothschild dylan.rothschild@thecreativegroup.info Production (Editorial Section Advertising): Lucea Goosen lucea@yourneighbourhood.co.za Production (Property Advertising): Cheryl Leaner cheryll@yourneighbourhood.co.za

Neighbourhood

06 SEPTEMBER 2015

NEWS & LIFESTYLE

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Chill time With spring time arriving, it’s time to once again enjoy ice-cold cocktails WORDS: LISA DEWBERRY

IMAGES: ISTOCK & LISA DEWBERRY

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hether you need that perfect wind-me-down drink, something to get you into the party mood, or a drink large enough for all your friends to sip on, Pretoria’s bars have something for everyone.

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Relax and enjoy the perfectly balanced sweet-andsour flavours of the Blue Crane cocktail

Experience a sweet and sour Blue Crane

Relax and enjoy the perfectly balanced sweet-and-sour flavours of the Blue Crane cocktail at The Blue Crane Restaurant and Bar in one of the most peaceful areas in Nieuw Muckleneuk.

The restaurant’s signature cocktail is made with Jack Daniel’s, Southern Comfort, a dash of vodka and blue curacao and topped with lemonade, putting you in a mellow mood as you enjoy the breathtaking scenery of the Austin Roberts Bird Sanctuary.

Enjoy a rainbowcoloured Shark Attack

The Shark Attack at Eastwoods Entertainment Lounge in Arcadia is overflowing with all kinds of deliciousness. Filled to the brim, this 550ml magical cocktail jar includes red grenadine, a single shot of Mojo flavoured vodka and a single shot of Archers peach schnapps, orange juice and blue curacao, blended, and topped with a maraschino cherry. Begin by mixing it with your stirrer from bottom to top and watch as your rainbowcoloured drink turns a purplish blue.

Let Purple Rain fall

Indulge in a Purple Rain cocktail at More Restaurant and Cocktail Bar in Centurion and enjoy its exciting sweet cherry and litchi flavours in a casual Caribbean setting. Vodka and litchi liqueur are shaken and poured over ice, topped with lemonade and a cherry, while the secret ingredient gives it that Prince-perfect shade of purple. Your taste buds will be screaming with delight.

Relax with a Mo-ZamBikan style R&R

Experience the flavours and scenery of Mozambique right on your doorstep, without boarding a plane, by simply enjoying a Rum and Raspberry at MoZam-Bik Silver Lakes. This signature drink, served as a half-litre, 1,3L, 4,75L or a whopping 13,25L, is perfect for you and your friends to sip on, or gulp down, in groups. The combination of the rum, specially brought in from Mozambique, together with Sparberry will give you the ultimate sugar rush. Enjoy the rustic feel of the restaurant while having a few laughs after a tough day’s work.

TASTE FOR YOURSELF: Blue Crane Restaurant and Bar 012 460 7615 bluecranerestaurant.co.za Eastwoods Entertainment Lounge Arcadia 012 344 0243 eastwoods.co.za More Restaurant and Cocktail Bar 012 654 0507 morerestaurant.co.za Mo-Zam-Bik Silverlakes 012 817 2014 mozambik.co.za

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NEWS & LIFESTYLE

Neighbourhood

06 SEPTEMBER 2015

FNB Art Fair: the best of the continent Whether you’re an amateur enthusiast or a serious collector, don’t miss this international pan-African art fair WORDS: CATHERINE BLACK

IMAGES: SUPPLIED

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illed as the first international art fair on the African continent, the FNB Joburg Art Fair returns to the city for its eighth year from 11–13 September. It’s a gathering place for artists, curators and art lovers – from amateur enthusiasts to serious collectors – to celebrate the finest of African Art. Far from being just an exhibition space for top local and international galleries, it also includes a series of curated special projects, a talks programme, and is the kick-off event to Joburg Art Week. We spoke to fair curator Lucy MacGarry about what’s in store.

Q: What’s new about this year’s art fair?

A: W e’re focusing on the vigorous forms of experimental film and live performance. The new “Theatre in the Round” will host a programme of film screenings, performances and talks to highlight the growing significance of these multidisciplinary forms in the context of contemporary African art.

Q: Tell us more about this year’s featured artist, Candice Breitz.

A: C andice is the ideal anchor for this year’s film and performance programme. The Johannesburg Art Gallery in partnership with Artlogic and Goodman Gallery will be presenting her film installation ‘Him + Her’ for its first ever showing in South Africa.

Q: What shouldn’t one miss?

A: The large-scale installation by FNB Art Prize winner Turiya Magadlela, the Art Bar designed by artist Cameron Platter and a range of VIP events hosted by Egon Zehnder. Also launching this year is the Gallery Solo Projects section that gives visitors the chance to see several works by the same artist in order to understand a fuller range of their work.

Q: Who are some up-andcoming artists to watch?

A: Igshaan Adams (South Africa), Lakin Ogunbanwo (Nigeria), Tony Gum (South Africa), Turiya Magadlela (South Africa).

Q: The Art Fair precedes the Art Week that follows. What are some highlights to come during the week?

A: Projecting the Project – a panel discussion on the role of contemporary art practice, and how it is projected on the African continent. Then the official after party will feature an eclectic mix of South Africa’s most interesting musicians strung across three separate staging areas, all housed within one of Johannesburg’s most iconic venues, the Alexandra Theatre in Braamfontein.

This year, we’re focusing on the vigorous forms of experimental film and live performance

SEE FOR YOURSELF: FNB Joburg Art Fair 11–13 September Sandton Convention Centre fnbjoburgartfair.co.za

Neighbourhood

06 SEPTEMBER 2015

NEWS & LIFESTYLE

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‘Cocktail’ at Kleinkaap Boutique Hotel

LOCAL LOWDOWN

Celebrate the fresh, spring air with a date night at the picturesque Kleinkaap Boutique Hotel for a moonlit movie. Not only will you be treated to a 1988 Tom Cruise, but tickets also include a buffet picnic and you can even opt to stay the night in their lovely accommodation. The screening will take place on Friday, 11 September at 7pm. Tickets are limited, so book now to avoid disappointment.

Explore the other side of the

capital with these awesome events WORDS: RITA HELLO

IMAGES: SUPPLIED

Rita-Mari Ludike is a freelance art director, photographer and the blogger behind Rita Hello: ritahello.com

EXPERIENCE IT FOR YOURSELF:

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We Are Animal Bass Foam Party

We Are Animals is bringing you fun, foam and most definitely FOMO if you miss out on this event. Doors open at 2pm, and you’ll be able to bring your own meat to braai and as the sun sets get ready for some amazing performances by Grimehouse, The Kiffness and many more. Grab a towel and join the fun at Arcade Empire on 12 September. No under 18’s, ID required.

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Kleinkaap Boutique Hotel kleinkaap.co.za 012 654 9878

Red Bull X-Fighters

On 12 September our fine capital city will be buzzing. The Red Bull X-Fighters will be hosting their World Tour at the Union Buildings serving as a beautiful backdrop for their second event in Pretoria. Take the boys out for an afternoon of freestyle motocross excitement. Refreshments and meals are for sale at the venue.

We Are Animals presents Bass Foam Party http://on.fb.me/1JCRQUG Red Bull X-Fighters http://bit.ly/1HRGzlN

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NEWS & LIFESTYLE

Neighbourhood

06 SEPTEMBER 2015

Working Smart IMAGE: IKEA AND OFFICEPOD

Ikea

WORDS: CHRIS REID

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OfficePod

e’re reaching the point now where it seems like every second person is a freelancer, telecommuter or otherwise alternatively employed individual.

This global trend towards more flexible working arrangements has been growing steadily for a while now. And along with it we’ve seen the rise of spaces such as ‘coffices’ (coffee shop workspaces) and hot desks. For many full-time part-timers however, there is a growing need to create workspaces at home, and a traditional home office just won’t cut it.

Tracking global interior trends when it comes to office spaces operating our of homes, we’re seeing more and more pop-up solutions catering to the new nomadic employee. From offices in cupboards and trunks, to smart furniture solutions that allow people to keep their work and home lives separate, designers seem to love the challenge that this way of working poses.

Locally we’re also seeing an increase in back-garden container offices as people find new ways to maximise their available space. This builds on the pop-

up office trend that’s been around for a while now, with people buying prefab modules to create workspace anywhere.

Seeing a demand for these products in the local space, OfficePod, a popular UK-based manufacturer, is even looking to move into the South African market in the coming months.

As more and more people ply their trade in the knowledge economy, these kinds of flexible workspaces are inevitable. Balancing work and life is tough enough, but the sentiment is that the right kind of home office set up goes some way towards helping to do that.

Locally we’re also seeing an increase in backgarden container offices as people find new ways to maximise their available space

Neighbourhood

30 AUGUST 2015

NEWS & LIFESTYLE

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SPOTLIGHT

06 SEPTEMBER 2015

Spotlight on

Brooklyn

Known as a well-established upmarket residential area, Brooklyn is popular for arts, dance and theatre, super amenities, and great educational organisations WORDS: LISA DEWBERRY

IMAGES: ANTON SCHOLTZ, RIVATE PROPERTY & GOOGLE

Neighbourhood

Neighbourhood

06 SEPTEMBER 2015

Brooklyn is a wellestablished area with a flair that’s rich in arts and culture, top-notch educational institutions and world-class shopping. This upmarket residential area which has been home to presidents, ministers, diplomats, academics and artists, is filled with beautiful houses built. It borders the University of Pretoria on Lynnwood Road to the north, Waterkloof to the south, Fehrsen and Roper Street to the west and Brooklyn Road to the east.

Jean-Pierre Verster, director of Brooklyn Theatre, living in the area for nine years, says there is a strong creative element to the suburb with Brooklyn Theatre playing an instrumental part in the artistic character of the area. He says the theatre operated as a classical music store in Brooklyn Mall for 12 years before it relocated to Thomas Edison Street in October.

“The team at the theatre have been staging classical concerts, promoting classical music, creating work for classical musicians and recording CDs since 1994. Young artists at the theatre perform art inspired music and are involved in projects to promote appreciation of music, especially classical music,” says Jean-Pierre.

The Fried Contemporary Art Gallery in Brooklyn further enhances the creativity of the suburb with regular curated exhibitions by local artists. Mika Thom, director of the gallery, says it was founded in 2005 and held their first Collector’s Room exhibition in October 2014 entitled ‘Capital Past’ focussing on artists with a strong connection to Pretoria such as Alexis Preller, Braam

Kruger and Sydney Khumalo.

Brooklyn is also renown for dance and Dance Hub studios which opened in the suburb in January 2014 is an example of a platform encouraging residents to embrace this art form. Susan Attfield, co-owner of Dance Hub studios, says they teach Royal Academy of Dance inspired ballet exclusively to adult ballet dancers, especially older hobby dancers wanting to do ballet as an alternative form of fitness allowing dancers to dance en pointe in pointe shoes.

Brooklyn also has a unique international atmosphere and is known as an area populated with embassies and international residents perfect for building a global network. Among bodies representing governments in Brooklyn are the Italian Embassy, Embassy of Sri Lanka, Embassy of Ukraine and High Commission Republic of Cyprus.

Brooklyn has everything...

I love that not a great deal has changed in the area over the past 40 years KATE PRINSLOO, RESIDENT

When it comes to shopping in the area, Brooklyn Mall and Design Square provide a full complement of national retailers and specialist retail stores with an assortment of restaurants and coffee bars. These shopping destinations offer customers the convenience of onestop-shopping catering to requirements of the most discerning shopper.

If it’s quality education for the children you are after, Brooklyn has some of the best educational institutions in South Africa including Pretoria Boys High School, Brooklyn Primary School, Pretoria Preparatory School, Brooklyn Inter-nation Preschool and the University of Pretoria. Tony Reeler, headmaster of Pretoria Boys High School, says schools in the area aim to provide learners with broadbased education reflecting values,

SPOTLIGHT

needs and aspirations of the community.

“Pretoria Boys High School, situated on an 85 acre campus in Roper Street, is one of the oldest schools in the province founded in 1901 with around 1,500 learners making it the largest boys’ school in South Africa. The schools in Brooklyn pride themselves on maintaining high standards of holistic education based on full academic, cultural and sporting programmes and aim to uphold moral values and principles allowing learners to reach their full potential,” says Tony.

Kate Prinsloo, councillor for Ward 46 and a resident of the area for almost 40 years, says Brooklyn has everything your heart desires whether you want to enjoy your favourite movie at Cinema Neauvou, browse interesting books at Exclusive Books, have a delicious pizza from Col’cacchio or indulge in a gelato at Häagen-Dasz. She says the area also offers an ideal working environment and is the place of choice for many financial institutions and professionals.

“I love that not a great deal has changed in the area over the past 40 years, but changes that have been made have been monitored by the Brooklyn and Eastern Areas Residents Association, one of the oldest residents associations in the country, protecting the character of the area since 1924. During October, the Jacaranda Trees along the wide leafy boulevards are in full bloom and busloads of tourists visit the suburb each year to take photographs.

It makes you want to pinch yourself knowing all of this is on your doorstep - I wouldn’t trade Brooklyn for any other place in the world,” says Kate.

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SPOTLIGHT

Neighbourhood

06 SEPTEMBER 2015

Property prices in the Brooklyn area

A typical property for sale in Brooklyn is a five-bedroom house at an average asking price of

2% of properties for are in complexes, at an average asking price of

R4,45m

R4,99m

R3,75m

R20,000

15% of properties for sale are flats, at an average asking price of

Average monthly rental for a three-bedroom house:

During October, the Jacaranda Trees along the wide leafy boulevards are in full bloom

Demand

Properties for sale in Brooklyn comprise 3% of total sales listings in the Pretoria Central and Old East area. They receive:

of the interest

4%

7%

of the total rental listings

Neighbourhood

06 SEPTEMBER 2015

SPOTLIGHT

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THINGS TO DO IN AND AROUND BROOKLYN Enjoy a concert at the Brooklyn Theatre Take a dance class in ballet at Dance Hub studios Brooklyn Browse interesting books at Exclusive Books at Brooklyn Mall View an art exhibition at Fried Contemporary Art Gallery Take a stroll down the wide boulevards lined with Jacaranda Trees

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Neighbourhoods NEW Initiative

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PROPERTY NEWS

Neighbourhood

06 SEPTEMBER 2015

Insurance:

don’t risk a thing As weather patterns change a rise in likelihood of property damage makes building insurance an essential for any property WORDS: LISA DEWBERRY

IMAGE: ISTOCK

W

ith weather patterns changing over the last few years, many regions have been experiencing increased extreme conditions such as floods and gale force winds, causing a rise in likelihood of property damage due to fire, flood or falling trees. Alex Bartels, national sales manager: Ooba Insurance, says a home is probably an individual’s biggest asset and when an unforeseeable event such as a fire or flood strikes a property, tremendous costs may result so having building insurance is essential to rebuild or repair the property immediately.

“If a home is bonded, the bank requires continued payment of the bond, even if the property is unliveable. Putting buildings insurance in place during a bond application process is mandatory and the lending bank will insist on seeing an approved insurance policy on the property before they allow registration to take place,” he says.

Bartels says the correct cover should be given ensuring all information is disclosed about the property including factors that change the risk of the property such as roof type and whether the property is

occupied. He says if improvements are made to the property, insurance should be increased in line with the increased value.

Anton Ossip, CEO: Discovery Insure, says when insuring property, the homeowner needs to consider if there’s sufficient cover and the amount the property is insured for is adequate to avoid being underinsured when having to repair or replace anything.

He says there are different costs to consider when determining the value of building insurance.

“When a house burns down there are not only costs to rebuild it, but also costs to remove the rubble before work can start. When purchasing insurance the full replacement value should be considered including building costs, cost of removing debris and other possible costs. The value of this insurance can differ vastly from purchase price of a home and from municipal value of the property,” says Ossip.

He says homeowners should understand what risks are covered, which aren’t and what criteria have to be met for cover to be implemented so if the time comes to

claim, they know what to expect from their home building insurance. Ossip says it is advisable to have a qualified financial adviser to explain terms and conditions of cover and to have them assist with a claim.

When purchasing insurance the full replacement value should be considered including building costs, cost of removing debris and other possible costs. The value of this insurance can differ vastly from purchase price of a home and from municipal value of the property ANTON OSSIP, CEO: DISCOVERY INSURE

Neighbourhood

06 SEPTEMBER 2015

PROPERTY NEWS

Menlyn Maine is South Africa’s first green, mixed-use city. Many of the buildings have been awarded top honours for being environmentally friendly, all located in a cluster of luxury with everything between the buildings designed to be sustainable

Analyse it PATRICK CAIRNS

The ups and downs of interest rates U

ntil the most recent market turmoil, most analysts were expecting that the US Federal Reserve would announce an increase in interest rates at its September meeting.

This would be the first time that the US had raised rates since 2006.

Given the concerns about the global economy, however, this may well be pushed back. The hike may only come in November, or possibly even wait until next year.

Nevertheless, the talk is still about when, rather than if, interest rates will go up. In South Africa, a large part of the Reserve Bank’s decision to lift the repo rate by 0,25% in July can be put down to wanting to move ahead of the Fed. Many people would have heard this talk, and probably have a good idea of what it means. Higher interest rates mean that home loans, personal debt and car repayments are going to be higher.

People with cash investments will see higher incomes, but returns from the stock market will likely be lower.

However, very little has actually been said about the second part of the interest rate equation, which is how high interest rates are in the first place.

In the US, the base rate is currently 0,25%. And even when the fed starts lifting rates, it is likely to do so in small increments.

Locally, the repo rate is at 6,0% and the prime lending rate at 9,5%. Only seven years ago, in the middle of 2008, the repo rate was at 12,0% and prime at 15,5%.

So even though we are on the way up, we are really still in a low interest rate environment. It’s not ideal to be raising rates at all in a struggling economy, but we are hardly heading into territory where interest rates are going to cripple us.

The likelihood is also that the rate hiking cycle will be very limited. Given the poor performance in the local economy, RMB Global Markets recently suggested that the Reserve Bank may only raise rates another 0,25%. It could even start cutting rates as early as next year.

The average prime lending rate in South Africa since 1979 is just over

15,0%

So the important thing for South Africans is to see things in context.

In a way the Reserve Bank has had little choice – it had to lift rates in an environment where the US is going to hike. Otherwise it puts the rand and our bond yields at risk.

It has however acted prudently. It has to be seen to be doing something, while at the same time actually doing very little. That will probably stay true, and interest rates here will remain low.

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Uptown living in Alpine Village New expansion of the Hillside Village adds designer homes to Menlyn WORDS: LEANDI CAMERON

IMAGE: SUPPLIED

P

retoria East is seeing a whirlwind of new developments uplifting the area – from new homes, highrisers, office buildings, shopping centres, restaurants and casinos.

With luxurious Pretoria East developments being erected, one thing is clear – these developments are aimed at an upmarket lifestyle. And with such expansion, the demand for ones such as the sectional title complex Alpine Village development, grows.

Harcourts area property agent, Elna Barnard adds that it can cost R2m for a north-facing, 120m2 two-bedroom and R2,5m for a 153m2 three-bedroom.

Luckily these luxury homes are sold directly from the developer, which means no further duties are placed on the property.

The development is also a good investment opportunity, with highend living for a metropolitan lifestyle.

The development has been designed to be architecturally modern. The development offers 11 executive units that provide buyers the choice of different layout designs and sizes to choose from. The kitchens are designed to create an open flow throughout the living areas, which opens up onto a covered patio with a built-in braai, overlooking a low maintenance garden.

Barnard adds that the interest in properties has been high, with most of the two-bedroomed homes already

been sold. The complex, which is still to be built, is situated inside the 24 hour security estate, The Hillside Village, adjacent to Menlyn Maine.

With Alpine Village situated close to the entertainment facilities, homeowners can enjoy nearby restaurants while knowing that their home is protected with double security.

Menlyn Maine is South Africa’s first green, mixed-use city. Many of the buildings have been awarded top honours for being environmentally friendly, all located in a cluster of luxury with everything between the buildings designed to be sustainable – from its sidewalks and streets, to its parks and squares.

Menlyn Maine development is already home to companies such as BMW, Nedbank and Sage VIP. It has great shopping spots in its new Central Square, which will expand with a 30,000m2 boutique shopping mall, a piazza, a 213-room apartment building and conferencing hotel, a 14,500m2 office tower, a 4,000m2 Virgin Classic Gym, and a public park.

The new development is located closely to top Pretoria schools, malls and the University of Pretoria, and is close to the proposed BRT (Rapid Bus Station).

Occupation of the development is estimated to be on 1 June 2016.

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NEWS & LIFESTYLE

Neighbourhood

06 SEPTEMBER 2015

M

ore and more home loan providers are showing a bigger appetite for risk, and while this is good news for buyers in need of a bond to finance the purchase of a home, the weakness of South Africa’s economy as a whole will keep this appetite in check. Industry spokespersons are advising potential homebuyers to better their chances of getting a home loan by saving for a deposit and working on their creditworthiness.

Bond originator ooba has recorded higher rates of home loan approvals year on year and notes that the outlook for the South African property market for 2015 remains positive, thanks to steady house price growth, relatively low interest rates and lenders’ increased confidence.

Mixed signals from home loan market South Africa’s home loan providers are hungry for business, but a sluggish economy is weighing on the market WORDS: LISA DEWBERRY

IMAGES: ISTOCK

Says ooba CEO Rhys Dyer, “Approval rates are 2,5% higher year on year. The average interest rate achieved by ooba in May 2015 was prime plus 0,34%, which is well down on the average of prime plus 0,58% achieved in May 2014. The average purchase price also increased in May – by 13,3% to R1,072,615. This is the second consecutive month in which the Oobarometer has recorded double-digit year-on-year house price growth.”

The oobarometer also showed sustained year-on-year growth in the average price paid by first-time homebuyers, with an 8,6% rise to R796,261, says Dyer.

Ooba’s statistics also point to sustained competition among lenders, while investor interest in the property market remains encouraging, he notes.

Steven Barker, head: Standard Bank

Home Loans, says that lenders’ improved appetite for risk is providing some assistance to the property market. But he warns that “the extent of growth will be dampened by slowing economic growth and a potential increase in the home loan finance cost as banks align to changing regulatory requirements”.

Kevin Penwarden, CEO: SA Home Loans, says the growth in house prices and housing supply has been encouraging; however, the volume of lending into the home loan market has not increased substantially. And, although South Africa has enjoyed a period of low, stable interest rates, in most other respects the economic climate has been tough for the average consumer, and this has constrained the property market.

Ewald Kellerman, Head: Customer Interaction, Absa Home Loans, says that most banks view their home loan businesses as a potential growth area. It is expected that competition between lenders will see improvements in customer service levels and, possibly, slightly lower costs for borrowers. But potential homebuyers are still advised to save for a deposit, he says, as it is unlikely that home loan providers will relax their risk criteria further. Instead, loan providers will “compete aggressively for good customers who conduct their financial affairs satisfactorily and can afford to put down a deposit”.

Says Kellerman, “Banks are looking to increase the flow of new business while maintaining the same high regard for quality of book and sustainability.”

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Neighbourhood PROPERTY & LIFESTYLE

Your property guide and show house listings in the Sunday Times.* * Selected areas only. Excludes Express edition.

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NEWS & LIFESTYLE

Neighbourhood

06 SEPTEMBER 2015

Neighbourhood

SHOW DEVELOPMENTS

To see more on the

DEVELOPMENTS featured here

visit yourneighbourhood.co.za/developments

9596

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Neighbourhood

30 AUGUST 2015

SHOW DEVELOPMENT

19

Retirement Estate - houses available from

R1 845 000 Liza 084 548 2830

011 244 8380 www.sablehomes.co.za

Visit our website at www.retreat.co.za for more information

06 SEPTEMBERS 2015

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MARKETPLACE

Neighbourhood

MARKETPLACE

Area Guide

Agency Guide

A:

M:

Alphen Park

34

Meadow Ridge Estate

20

Amberfield

26, 32

Menlo Park

24, 34

Amberfield Crest Estate

32

Menlyn

27

Meyerspark

26

B:

Midfield Estate

20, 33

Baileys Muckleneuk

28

Midlands Estate

33

Blue Valley Golf Estate

29, 32 22, 24

Midstream Midstream Ridge

29, 33

Boardwalk Meader Brooklyn

22, 24, 28

Monavoni

24

Brummeria

34

Montana

26

Mooikloof

23, 26

Mooikloof Gardens

34

C:

20

Celtisdale

32

Mooikloof Ridge

23

Centurion Golf Estate

32

Moreleta Park

20, 24, 25, 34, 35

Clearwater Estate

22

Clubview

20, 32

N:

Cornwall Hill Estate

21, 29, 32

Newmark Estate

Country View Estate

34

23

O: D:

Olive Crescent

Die Hoewes

26, 29

Doringkloof

32

E:

23

R: Rietvalleirand Rietvlei

25

Rooihuiskraal

21, 25, 33

20

Eco Park Estate

32

Elarduspark

20, 22

Eldoraigne

26

S:

Equestria

22, 34

Silver Lakes

25

Erasmuskloof

20, 22

Silver Lakes Golf Estate

21

Silverton Ridge

25

F:

Silverwoods

23

Florauna

26

Southdowns

21

Faerie Glen

22, 24, 26, 28, 34

Southdowns Estate

21

Stone Ridge Estate

25, 33

Summerfield Estate

33

G: Garsfontein

20, 22

T: H:

Thatchfield Glen Estate

33

Hatfield

22

The Reeds

26, 33

Hennopspark

32

The Wilds

21

Highveld

21

Tiegerpoort

23

I:

W:

Irene

21

Wapadrand

20

Waterkloof

25, 28, 35

I:

Waterkloof Glen

23

Knoppieslaagte

Waterkloof Heights

35

26

Waterkloof Ridge

28, 35

L:

Wierdapark

33

La Montagne

20, 23, 26

Willow Acres Estate

25

Laezonia

32

Willow Park Manor

35

Lynnwood

22

Woodhill

25

Lynnwood Glen

21, 24, 28

Lynnwood Ridge

22

Z:

20

Zwartkop

Lyttelton

25, 29

Adrienne Hersch Properties Aida Leapfrog Nedbank Pam Golding Properties Sable Homes Seeff Properties Sotheby's International Realty

26 22 - 23 20 - 21 16, 18 27 - 29 17 31 - 35 24 - 25

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