The real state of the residential rental market

But how is the rental market performing? Anecdotally at least, sharp rises in administered prices suggest that this is very much a tenant’s market.annual review for 2018 shows “a continuation of the downward trend in national rental growth, trailing inflation for most of the year”. The average monthly rental growth rate practically halved from 2017, ending last year on 3.9% . Average consumer price inflation was 4.7% in 2018 and 5.3% in 2017.

The picture across the country’s three major provinces looks very different. In Gauteng, the average monthly rent breached R8,000 for the first time in the last quarter of 2018, which is 4.84% higher than the year prior . PayProp says “while this rate was lower than the year before, it was the province’s first increase in quarterly growth in two years, which might signal the beginning of a recovering rental market in the province”.

But the report notes that the average monthly rent in the province “surpassed the R9 000 mark during the year, still making it the most expensive province to live in with an average price differential of nearly R1 000 compared to the second most expensive province”.The affordability ratios above show just how much of their net income the average tenant spends on rent and debt obligations. This means the average Gauteng tenant, for example, has 24.1% of their net income left.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market Theatre falling apart despite R100m state cash injection | The StarAllegations are that the iconic precinct shoddy work is to blame for the state of disrepair at the theatre. TheStar_news Too many 'artists' sucking the payment tit dry. TheStar_news What a helluva surprise. TheStar_news Yup.
Source: IOL - 🏆 46. / 51 Read more »

Venice-themed ship cruises to burgeoning China marketA huge liner designed entirely for Chinese tourists around the ever-romantic theme of Venice sets sail from Italy this week hoping to consolidate Costa Cruises in the vast and burgeoning Chinese tourism market.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Michael Jackson's Neverland Ranch back on market at steep discountMichael Jackson reportedly paid $19.5m for the property in the 1980s but a real estate investment firm bought it in 2008 for $22.5m after the singer defaulted on a loan. He could have bought I cash!!!!!!!! How did he home loan that crap?
Source: TimesLIVE - 🏆 28. / 59 Read more »

Michael Jackson's Neverland Ranch back on marketNeverland Ranch in California is back on the market for $31 million, a steep cut from the asking price four years ago.
Source: eNCA - 🏆 49. / 51 Read more »

MARKET WRAP: JSE kicks off new month positivelyAfter gaining 3.41% in February, the all share began March with broad-based gains, with rand hedges leading the pack
Source: BDliveSA - 🏆 12. / 63 Read more »

Michael Jackson's Neverland Ranch back on market at steep discountJackson reportedly paid $19.5 million for the property in the 1980s but a real estate investment firm bought it in 2008 for $22.5 million after the singer defaulted on a loan.
Source: ewnupdates - 🏆 30. / 53 Read more »