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Residential property transactions climbing

Residential property transactions climbing

<p>&nbsp;</p> <p><strong>Despite weakening economy, the <a title="Residential property for Sale" href="http://just.property/residential-property/for-sale/">residential property</a>&nbsp;market is holding up well.</strong></p> <p>The total value of sales in the SA housing market has been steadily increasing, with an 8,3% increase in the value of residential-property transactions from 2014 to 2105. This is despite gross domestic product (GDP) growth remaining very low, new-vehicle sales plummeting, and an increasingly aggressive upward interest-rate cycle. Fifty percent of residential properties are located in the Western Cape and Gauteng, accounting for more than two-thirds of the total residential-market value. Sandton and Parkmore in Johannesburg, Green Point and Rondebosch in Cape Town, and Rua Vista and Monument Park in Tshwane &ndash; as well as La Lucia and Mount Edgecombe in eThekwini in KwaZulu-Natal &ndash; were among the high-value suburbs with strong capital growth last year.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>&ldquo;Although the money supply of asset-buying consumers is lessening, property investment remains a top priority for many South Africans, with the City of Cape Town witnessing spirited growth in the housing market over the last five years,&rdquo; said Paul-Roux De Kock, analytics director, Lightstone, which provides information, valuations and market intelligence on all properties in SA. He was addressing this year&rsquo;s annual Overview of the South African Property Industry conference that took place at Val de Vie Estate outside Paarl in the Western Cape.</p> <p>Article from&nbsp;<a href="http://www.privateproperty.co.za/advice/news/articles/residential-property-transactions-climbing/4396">privateproperty</a></p> <p>05 April 2015</p>