Neighbourhood PTA - 16 December 2018

Neighbourhood 16 DECEMBER 2018

PROPERTY & LIFESTYLE

To buy, or not?

High living costs, load shedding, political uncertainty, rising interest rates...

This may paint a bleak picture, but the tides will turn post-elections, property experts say, page 2

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TRENDS 2019: THE FUTURE OF REAL ESTATE

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PROPERTY NEWS

16 DECEMBER 2018

Neighbourhood

Suburb focus

RSA

Real estate: what lies ahead?

Property experts agree that many prospective property buyers and investors are deciding ‘to wait and see’ how things turn out before making any further commitments to the South African property market.

But is there a flicker of light at the end of the tunnel?

WORDS: BETSIE LOOCK-VAN DER MERWE

IMAGES: SHUTTERSTOCK

T

he housing market has also felt the effects of global and local deteriorating economies and political uncertainty in the country over the past year.

Berry Everitt, CEO, Chas Everitt International property group, says he’s not really surprised that many potential buyers delay their decisions.

“A positive outlook is currently being blurred by various other problems that are also the legacy of state capture, including bankrupt or nearlybankrupt, state-owned enterprises, low GDP growth, high unemployment, crime and corruption. Millions of South African consumers are also taking financial strain because of the VAT increase in April, the high fuel prices, and the ever-rising cost of electricity and other utilities.” he says.

According to Dr Andrew Golding, CEO, Pam Golding Property group, statistics reveal a slight increase in financially stressed households selling to downsize or who then opt to rent rather than buying a smaller property. “Whatever the price band, value for money is a recurring theme for first-time and repeat buyers alike,” he remarks.

South Africa’s residential market is in for an interesting time in 2019, but our predictions for the year as a whole are positive, and we believe that homebuyers and investors who take the plunge and buy early, will be well-rewarded

Both Everitt and Golding highlight the role of the upcoming 2019 general election as significant in potential buyers’ decision to postpone their property purchases.

Elections Adrian Goslett, regional director and CEO, Re/max of Southern Africa, says a lot will hinge on the outcome of the elections. “Leading up to the elections, I predict that house-price growth will be slow, as people await to hear the results before making commitments.

Properties are, therefore, likely to stay on the market somewhat longer for the first and second quarters, especially those properties in the high-end and luxury market.”

BERRY EVERITT, CEO, CHAS EVERITT INTERNATIONAL PROPERTY GROUP

Consequently, Goslett predicts that 2019 will likely present the best opportunities to buy if you get in during the first six months. “I anticipate reinvestment (local and foreign) in the country post-election if the fight against corruption continues and tough decisions are made, which I do believe will happen. Greater stability should lead to consumer confidence and with PUBLISHED BY TIMES MEDIA PROPERTY PUBLISHING 1st Floor, Block H, Sable Square cnr Bosmansdam and Ratanga roads Milnerton, Cape Town

EDITORIAL TEAM: Group Editor: Carla Redelinghuys carla@yourneighbourhood.co.za Senior Sub-Editor: Marana Brand Designers: Anja Bramley & Samantha Durand Visit yourneighbourhood.co.za

that a more buoyant real-estate market.

I therefore predict that the market will turn a positive corner post-election.”

Everitt agrees, “We’re anticipating a surge in prices following the elections, which will mean that buyers have to earn more to afford the homes they want, take out bigger bonds and pay higher monthly instalments. In addition, they will have missed out on the substantial value growth that they would have gained by buying now, while prices are still relatively suppressed.”

Constructive considerations Everitt says buyers and investors should not allow the current unsettled state of the global and local economies to cloud their vision of long-term gains.

“With the weaker pound and dollar being good for the rand, and oil prices at very low levels, it helps to contain inflation, lowers the likelihood of another interest rate hike early 2019, and is a positive for economic growth and job creation. It’s also expected to give a further boost to local home demand and sales.”

Everitt is optimistic about President Cyril Ramaphosa’s performance thus far to attract foreign and corporate investment. “The president has also secured pledges from business and labour to help create at least 275,000 new jobs a year for the next five years.

We also have a finance minister now who is firmly committed to containing government spending and bringing down the national deficit, so although it’s a long road back to prosperity for SA, there’s growing confidence that we’re going in the right direction.”

Says Golding, “There are currently still areas of growth and opportunities in the market, although not necessarily the high-end suburbs, but the more affordable areas which are within reach of South Africa’s numerous less affluent and first-time buyers.”

Another example is towns formerly considered holiday towns which are now attracting permanent residents. “It’s now the turn of the more affordable, less popular towns and suburbs to recover.”

ADVERTISING SALES: Call us for advertising opportunities on 087 828 0423 Production: Lucea Goosen pretoria@yourneighbourhood.co.za Online coordinator: Chantelle Balsdon chantelle@augmentcreative.com

16 DECEMBER 2018

Neighbourhood

TRENDS EXPECTED TO IMPACT THE MARKET IN 2019* • Need for value-for-money, affordable housing • Convenience of location and fuel price – closer to work, school and retail • Young buyers of the future – lock-up-and-go, under R1m, no maintenance • Developing key-growth nodes close to facilities away from main nodes • Mixed-use developments – work, live, play at the same address close to public transport • Emerging trend of retirees opting for flexible, active living within an existing and secure residential estate with a host of activities * Source: Dr Andrew Golding

CURRENT VALUE-FORMONEY RESIDENTIAL AREAS* • East Rand – experiencing the strongest recovery among Gauteng metro markets • Randburg and Joburg South to the greater Fourways region • Equestria, Moreleta Park and Mooikloof Ridge in Pretoria • Amberfield and Raslouw in Centurion • Amanzimtoti in the eThekwini Metro on the outskirts of Durban • Certain parts of Glenwood and Morningside in Durban • Western Cape areas of Parklands on the West Coast; Burgundy Estate between Cape Town and Durbanville Hills; and 10 minutes from Century City * Source: Dr Andrew Golding

PROPERTY NEWS

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PROPERTY NEWS

16 DECEMBER 2018

Neighbourhood

My business neighbourhood A Brand Called you! is a clothing and lifestyle brand in Arcadia WORDS: ZENA LE ROUX

IMAGE: SUPPLIED

A

Brand Called you! was conceptualised to promote identity and swag culture, taking pride in who you are and invigorating social cohesion as a lifestyle. Co-owner Tshilidzi Nelwalani tells us more.

Q: How did your business start?

A: T he love of clothes and good things led to the birth of this clothing brand. My business partner Mushavhi Peter Mbelengwa and I, used to buy clothes and resell them.

We took a taxi almost every day to and from Joburg to collect stock.

We made use of free Wi-Fi from the restaurants at Sunnypark mall to connect to the internet and social media. We promoted and marketed our business through social media where we connected with clients here in South Africa and abroad.

The business is three years old this year.

Q: Why did you choose this area to set up shop?

A: We operated our business from the streets of Pretoria until we decided to work from my flat located at

Sunnypark Mall in Sunnyside.

This area was ideal since we couldn’t afford to pay my flat’s rent as well as rent for the shop at the same time. As the business grew, we decided to get a place to set up a shop. We now have three shops: Design studio and shop in Arcadia Pretoria, which we chose as most of our clients are based in Pretoria; Curio shop at Khoroni hotel in Thohoyandou where we used to courier clothes to every day; and Maboneng Precinct, which gives us more exposure to both local and international clients who visit the precinct.

Q: How did you find your premises?

A: We moved around doing our own research visiting these areas, until we found the perfect spots.

Q: Why are they ideally suited to your business?

A: A ny area is ideally suited to our business, as we know that we’re making an impact – wherever we are situated. Our clients enjoy the convenience of walking into the shop and taking their measurements for garments.

Q: Who are your neighbours?

A: P retoria Heart Hospital on Park Street Arcadia.

Q: What are the shop rental/sales prices like in this area?

A: They range from R7,500 to R10,000.

Q: What is your shop footprint?

A: L ast month we received orders for up to 200 garments.

Q: D o you have any expansion plans?

A: Yes, we want to open shops in all the provinces of South Africa and even beyond our borders.

Q: D o you operate online as well?

A: Yes, we are on Facebook (@AbrandCalledYou) and Instagram (@abrandcalledyou).

Q: What’s your most popular item?

A: Definitely jumpsuits. Traditional wear is also getting more and more popular. We have also ventured into uniforms, formal wear, and tracksuits.

SEE FOR YOURSELF: A Brand Called you!

076 572 1390 info@abrandcalledyou.co.za

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6

PROPERTY NEWS

16 DECEMBER 2018

Neighbourhood

Have a trendy New Year What’s on the colour and decor trend cards for 2019?

WORDS: ANNE SCHAUFFER

IMAGE: SHUTTERSTOCK

B

ruce Fyfe and Kelsey Boyce of Fyfe Boyce Design, are convinced that with most people’s madly busy lifestyles, there’s a continued desire for uncluttered, stress-free living.

“That often promotes contemporary and clean-lined spaces,” says Fyfe.

“There’s also a strong, growing trend to turn one’s pad into one resembling a place of peace and calm, perhaps one that’s similar to a favourite getaway.

Among other goals, it’s all about creating a space that is a little daring and that ultimately says ‘this reflects me’, expressing one’s own identity.” Fyfe believes this trend can be seen across all areas of decor – from furnishings to accessories and even artwork. “The 80s are back… think Danny de Vito and Bette Midler in Ruthless People, Elton John, Madonna and ET…”

Colours

Plascon chose “ravine” as their neutral of the year, which, they say, “Tells us that, even though it has evolved over more than ten years as one of the top decorative neutrals, grey is here to stay.” Ravine is described as “a timeless blend of grey and beige – with a taupe undertone – which invites a minimalistic yet luxurious look to a space and, according to the Plascon colour connoisseurs, is the perfect hue for the classic home in the 21st century”.

There you have it. And on grey’s enduring popularity, colour expert Claire Bond says, “Ravine continues to be our warm go-to natural as it provides a neutral canvas making it a safe option when detail needs to be added, be it a coloured painted feature wall, curtaining, flooring or upholstery.”

Fyfe says the colours they’re seeing as trending in 2019 are definitely retro-based: “From clean, feminine and glamorous pastels, through to dirty, richer clays, terracottas, tobacco hues, earthy greens and shades of warm yellows to moody mustards.

Black, along with neutrals, remain classics and are always easy to dress.”

The 80s are back

Fyfe points out connections, “The 80s are playing a big part in fashion, decor, cinema and television. In fashion, we’re seeing a return of the trendy puffer and high-waisted pants of the 80s, with teens scouring second-hand bargain bins for retired old garb for the look that is currently gracing the catwalks.

On television, we’re watching Wynona Ryder in Stranger Things, with styling and cinematography reminiscent of our favourite extra-terrestrial.

“Fashion, television and decor are all closely linked on current trends, and we’re seeing the 80s embraced by

many top American designers and locals alike. Martyn Lawrence Bullard, Jonathan Adler and Kelly Wearstler – LA designers to the stars – have bravely worked with colour and retro 80s’ influences to create spaces that are worthy of Hollywood royalty. Locally, artworks by Andrea Bowman and Kurt Pio bring in glamour and colour with pop culture references. Sculpture and ceramics by Astrid Dahl, Xavier Clarisse and Anthony Shapiro reflect current trends in shapes and choice of material – from brass to leather, clean whites to all the on-trend colours of now.

Fabrics and wallpapers are evergrowing and keep up with the trends on the catwalk. Velvets, bold large patterns, geometric or random, and texture are all the rage to work with tailored and curated spaces. Choice of timber finishes is also changing from the raw, blonder woods that have been around for a while now, to ebony-stained and brass-trimmed, warmer mahogany timbers, and painted to gilded finishes.”

From here to Hollywood

Fyfe sums up, “All around, when the world is in such a strange place economically, politically and ethically, the current trends are there to elevate moods and for people to express their ideas and individuality.

Hollywood glamour is alive and well!”

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16 DECEMBER 2018

Neighbourhood

PROPERTY NEWS

7

2018 ending on a more positive note N

ews that South Africa’s GDP increased by 2,2% in Q3, with fuel prices considerably reduced and the end of the technical recession, has ended the year on a more positive note, says Dr Andrew Golding, chief executive, Pam Golding Property group.

“This has been a tough year.

A troubled global backdrop, coupled with a weakened local economy and continued policy uncertainty, has weighed on the rand for much of the year. The weak exchange rate, together with higher global oil prices, has taken its toll on household finances this year as consumers have endured a series of fuel hikes, not to mention the recommencement of load shedding by Eskom – something we hoped was a thing of the past – plus ongoing tariff hikes.

“The resultant deterioration in the inflation outlook ultimately prompted the Reserve Bank to raise interest rates by 0,25% in November – the first hike in rates in more than two years, although bearing in mind that interest rates still remain relatively low. Many economists had expected that the

P R I V A T E

bank would leave rates unchanged, given that the growth outlook remains subdued, with the bank reducing its growth estimate for 2018 to just 0,6% – the fifth consecutive year in which growth has remained below 2%.”

Golding continues, “Even as the local economy emerged from a recession in the third quarter, the economy continues to struggle to regain momentum, despite political changes, in part because both consumer and business confidence remains subdued.”

“However,” says Golding, “2018 is ending on a far more positive note, with fuel prices cut by almost R2 per litre in early December, the rand strengthening below R14 to the dollar since mid-November and gaining ground against the UK pound as they grapple with the implications of Brexit.”

If sustained, the easing in global oil prices in recent weeks and the renewed rand strength could result in an improved inflation outlook which could perhaps delay the already gradual path of interest rate hikes currently signalled by the Reserve Bank, he says.

“Nevertheless, it remains far from clear that the current benign global environment will be sustained in 2019 and as a result, recent gains could be short-lived as renewed threats of a trade war between China and the US unnerve global investors and weighed on the rand once again.

“Despite this, South Africa’s residential property market retains its resilience as buyers and sellers adapt to changing economic environments and challenges and continue to reach common ground, sustaining activity as transactions are concluded for properties pegged at market-related prices."

He concludes, “Certainly, as John Loos of FNB has pointed out, containing rising costs such as electricity will be an increasingly important factor for homeowners moving forward.

The threat of renewed load shedding and the prospect of a water crisis in Gauteng, suggest that homes with solar panels and other means of reducing energy and water usage will prove increasingly appealing to homebuyers, as well as low-maintenance properties with lower monthly running costs.”

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We wish you a Warm and Happy Holiday Season and a peaceful and prosperous New Year.

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