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Photo Reuters

Affordability spike vacant rental homes in SA

Carin Smith
The number of residential rental properties standing vacant increased from a low of 6.92% in the third quarter of 2022 to 8.13% in the fourth quarter of 2022, according to the latest vacancy survey released by the TPN Credit Bureau, which specialises in the property market.

Gauteng's vacancy rate was 10% at the end of 2022, well above the national average of 8.13%. In KwaZulu-Natal, the vacancy rate was 3.26% at the end of last year.

The Eastern Cape experienced its highest vacancy rate to date, at 17.82%. High unemployment in the province impacts affordability, according to the TPN report.

In the Western Cape, however, high demand and low supply led to the lowest vacancy level since 2016, namely 2.13%.

Waldo Marcus, head of marketing at TPN, says price remains the key consideration for prospective tenants.

Most tenants rent because they can't afford to buy and for the flexibility that renting provides, according to TPN's annual tenant survey. Asked what factors they consider when looking for a rental home, respondents said price was their biggest consideration (57%), followed by security (37%). Other considerations included pet-friendly properties, the size of the property, and distance from work.

In the high-end R25 000 a month rental market, security is the primary concern.

Prime rental properties – especially those offering an alternative energy source and a backup water supply – will continue to be in high demand, according to the TPN report.-Fin24

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Allgemeine Zeitung 2024-05-24

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SerieA: Cagliari 2 vs 3 Fiorentina Katima Mulilo: 12° | 30° Rundu: 11° | 30° Eenhana: 11° | 31° Oshakati: 12° | 30° Ruacana: 13° | 31° Tsumeb: 14° | 28° Otjiwarongo: 12° | 27° Omaruru: 11° | 28° Windhoek: 10° | 24° Gobabis: 12° | 25° Henties Bay: 15° | 29° Wind speed: 25km/h, Wind direction: SE, Low tide: 09:43, High tide: 03:39, Low Tide: 21:53, High tide: 16:11 Swakopmund: 16° | 21° Wind speed: 22km/h, Wind direction: S, Low tide: 09:41, High tide: 03:37, Low Tide: 21:51, High tide: 16:09 Walvis Bay: 19° | 28° Wind speed: 26km/h, Wind direction: S, Low tide: 09:41, High tide: 03:36, Low Tide: 21:51, High tide: 16:08 Rehoboth: 11° | 26° Mariental: 14° | 27° Keetmanshoop: 15° | 27° Aranos: 13° | 27° Lüderitz: 15° | 25° Ariamsvlei: 16° | 29° Oranjemund: 10° | 20° Luanda: 24° | 26° Gaborone: 12° | 25° Lubumbashi: 13° | 28° Mbabane: 12° | 22° Maseru: 7° | 21° Antananarivo: 10° | 20° Lilongwe: 14° | 27° Maputo: 17° | 27° Windhoek: 10° | 24° Cape Town: 14° | 20° Durban: 18° | 22° Johannesburg: 13° | 21° Dar es Salaam: 22° | 31° Lusaka: 16° | 27° Harare: 13° | 25° Currency: GBP to NAD 23.4 | EUR to NAD 19.96 | CNY to NAD 2.54 | USD to NAD 18.41 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.31 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.69 | ZWL to NAD 0.04 | BRL to NAD 3.57 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.39 | USD to AOA 848.36 | USD to BWP 13.6 | USD to EGP 47.1 | USD to KES 132.23 | USD to NGN 1474 | USD to ZAR 18.41 | USD to ZMW 26.59 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79150.84 Up +0.25% | Namibian Stock Exchange (NSX) Overall Index 1748.47 Down -0.71% | Casablanca Stock Exchange (CSE) MASI 13370.7 Down -0.04% | Egyptian Exchange (EGX) 30 Index 27205.14 Down -0.08% | Botswana Stock Exchange (BSE) DCI 9141.35 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 335.68/OZ UP +0.16% | Copper US$ 4.73/lb DOWN -0.0035 | Zinc US$ 3 077.30/T UP 0.19% | Brent Crude Oil US$ 82.33/BBP UP +0.81% | Platinum US$ 1 028.30/OZ UP +0.85% Sport results: SerieA: Cagliari 2 vs 3 Fiorentina Weather: Katima Mulilo: 12° | 30° Rundu: 11° | 30° Eenhana: 11° | 31° Oshakati: 12° | 30° Ruacana: 13° | 31° Tsumeb: 14° | 28° Otjiwarongo: 12° | 27° Omaruru: 11° | 28° Windhoek: 10° | 24° Gobabis: 12° | 25° Henties Bay: 15° | 29° Wind speed: 25km/h, Wind direction: SE, Low tide: 09:43, High tide: 03:39, Low Tide: 21:53, High tide: 16:11 Swakopmund: 16° | 21° Wind speed: 22km/h, Wind direction: S, Low tide: 09:41, High tide: 03:37, Low Tide: 21:51, High tide: 16:09 Walvis Bay: 19° | 28° Wind speed: 26km/h, Wind direction: S, Low tide: 09:41, High tide: 03:36, Low Tide: 21:51, High tide: 16:08 Rehoboth: 11° | 26° Mariental: 14° | 27° Keetmanshoop: 15° | 27° Aranos: 13° | 27° Lüderitz: 15° | 25° Ariamsvlei: 16° | 29° Oranjemund: 10° | 20° Luanda: 24° | 26° Gaborone: 12° | 25° Lubumbashi: 13° | 28° Mbabane: 12° | 22° Maseru: 7° | 21° Antananarivo: 10° | 20° Lilongwe: 14° | 27° Maputo: 17° | 27° Windhoek: 10° | 24° Cape Town: 14° | 20° Durban: 18° | 22° Johannesburg: 13° | 21° Dar es Salaam: 22° | 31° Lusaka: 16° | 27° Harare: 13° | 25° Economic Indicators: Currency: GBP to NAD 23.4 | EUR to NAD 19.96 | CNY to NAD 2.54 | USD to NAD 18.41 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.31 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.69 | ZWL to NAD 0.04 | BRL to NAD 3.57 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.39 | USD to AOA 848.36 | USD to BWP 13.6 | USD to EGP 47.1 | USD to KES 132.23 | USD to NGN 1474 | USD to ZAR 18.41 | USD to ZMW 26.59 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 79150.84 Up +0.25% | Namibian Stock Exchange (NSX) Overall Index 1748.47 Down -0.71% | Casablanca Stock Exchange (CSE) MASI 13370.7 Down -0.04% | Egyptian Exchange (EGX) 30 Index 27205.14 Down -0.08% | Botswana Stock Exchange (BSE) DCI 9141.35 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 335.68/OZ UP +0.16% | Copper US$ 4.73/lb DOWN -0.0035 | Zinc US$ 3 077.30/T UP 0.19% | Brent Crude Oil US$ 82.33/BBP UP +0.81% | Platinum US$ 1 028.30/OZ UP +0.85%