Harcourts Foundation has donated half a million Rand to South African charities this year

Dec 12, 2018 4:20:50 PM Share this:

The Harcourts Foundation, Harcourts Real Estate's charitable arm, has donated half a million rand to South African charities this year. We're really humbled by the stories of those who benefited from our fundraising. And are so proud we were able to assist.

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Topics: Harcourts Foundation, South African Charities

Interest rate hike: More pressure on South African consumer

Nov 23, 2018 6:56:41 PM Share this:

South Africans will continue to remain under pressure as the governor of the South African Reserve bank Lesetja Kganyago announced yesterday that the bank will raise the repo rate to 6.75% from 6.5%. With the repo rate at 6.75%, the prime lending rate will increase to 10.25%.

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Topics: Interest Rates

The appeal of "Off-The-Grid" living

Nov 12, 2018 2:00:37 PM Share this:

There appears to be a renewed global interest in off-the-grid lifestyle living. And with electricity and water prices continuing to escalate one doesn't have to wonder why the appeal of this life-choice is increasing.

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Topics: off-the-grid living

Response to mid-term budget: "It is time for action"

Oct 25, 2018 7:37:43 PM Share this:

During yesterday's mid-term budget speech by newly appointed Finance Minister, Tito Mboweni, key factors putting a lot of strain on our economy were addressed in a more aggressive stance. However, the time for talk is over, and we need to see the results of policies and implementation plans otherwise economic stagnation will continue to remain a major concern.

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Topics: mid-term budget, tough economic times, wasted expenditure, growing economic pressures, economic uncertainty

Agency commission debate a product of the economy

Oct 12, 2018 5:40:41 PM Share this:

In recent years the commission of estate agents has been a point of contention, especially within industry circles. In the past few months it has certainly risen to the fore again as a product of economic circumstances which has influenced the demand and value of property in certain key markets, like the major metros and surrounding areas.

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Topics: Buyers market, skilled agents, low commission operators, estate agent commission

Affordable property markets remain stable

Oct 2, 2018 4:51:59 AM Share this:

South Africans are certainly facing tough economic times and with petrol set to skyrocket by R1.01 a litre and diesel by R1.24 in October, no relief for the short term seems to be on the horizon. Real estate has felt the knock-on effects of many of these economic cycles and certain markets have been adversely affected, however one part of the sector seems to have shown far more stability, and that is affordable property.

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Topics: affordable property, tough economic times, economic cycles

Harcourts partners with The Global Challenge

Sep 26, 2018 7:36:42 PM Share this:

The Global Challenge - an international professional women’s golf teams events where 9 players selected to represent the Northern Hemisphere will be teeing it up against their counterparts from the Southern Hemisphere is set to be hosted for the second time from 9 – 11 November in Hermanus, South Africa.

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Topics: Womens Golf, Hermanus Golf Club, Socially Responsible, professional golf players

Harcourts welcome President Ramaphosa's economic package announcement today

Jul 9, 2018 4:56:38 PM Share this:

We welcome the announcement by President Cyril Ramaphosa that Government will in two weeks’ time announce a package of economic measures to cushion the public from the devastating effects of high fuel price hikes and the VAT increase. According to media reports Ramaphosa was addressing business and government leaders in Pretoria this morning ahead of the BRICS Summit this month. The President said a panel of various stakeholders from the economic cluster has been tasked with drafting the package.

It is an immediate necessity that consumer pressures on South Africans be addressed in a strategic and detailed plan. Therefore it is a welcome relief that president Ramaphosa said Government will be announcing a package of measures to ease the burden of the price increase, which will include the finalisation of the VAT exempt products.

The continuous rise of expenses on South Africans has led to many people stagnant in a consumer price pinch. We have certainly witnessed it in the property sector. With some locations slowing down completely as buyers turn to renting as a means to bide time and monitor the economic climate.

Even in high LSM markets the property market has slowed down. Analysing properties sold for the last 12 months along the Atlantic Seaboard, April 2017 to March 2018, registered with the Deeds Office, which includes both sectional and full titles, the region has undoubtedly experienced a cooling period after the drastic growth of the past few years.

Unfortunately consumers are directly impacted by tax increases due to our participation in a multitude of industries. We’re economically active and as purchasers of an array of products and services we feel the knock on effects of the suppliers. Who have to make changes in order to buffer the impact on their businesses.

The rise of fuel costs as well as the increase in VAT has undoubtedly put pressure on the man on the street. As salaries are usually only increased annually, the consumer has to juggle unforeseeable market fluctuations on a perpetual basis. Making it very difficult to adhere to a budget and plan investments.
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Topics: President Ramaphosa

Harcourts' continued South African growth cemented in market understanding and culture

Jun 22, 2018 8:03:25 PM Share this:

Although South Africa's economy has been under pressure in recent years with rising costs placing consumers in a price pinch, compounded by volatile market fluctuations causing unpredictable cyclical trends - Harcourts South Africa experienced unprecedented growth over this same period. Sales have grown 115% in the past five years, the amount of agents have doubled and 2017 was Harcourts' most successful year on record.

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Topics: real estate technology, Innovative technology, Harcourts South Africa, Harcourts Growth

Countering the rise of property scammers

Jun 12, 2018 12:30:09 AM Share this:

The threat to the property market by fraudsters and scammers is very real and it seems the culprits are becoming increasingly advanced. The age of technology presents many with the opportunity to improve their business growth and market penetration. However, the evolution of technology continues to present fraudsters with more abundant opportunities to scam innocent people out of their hard earned cash.

There appears to be a rise in illegal activity related to the property market with scammers trying to intercept property payments, partly due to the high value of the amounts being paid. This is a very serious concern and the property market has to be extremely vigilant. All stakeholders have the responsibility to educate their clients and community on the dangers of this activity and ensure all the proper precautions have been put in place to counter these scammers.

In the past few months several conveyancing attorneys have issued stern warnings to real estate agents urging them to ensure these warning messages and security steps are transferred to the client.

Scammers are replicating email addresses that closely resemble that of the conveyancing attorney and others in the property market. They then strategically monitor and maneuver communication during the transaction process to identify opportunities to intercept important financial information.

It is imperative that buyers and sellers take care and cognizance of any behaviour raising red flags. The classic random email requesting you to change your banking information should immediately be taken very seriously. Contact your banking institution and inform them of the message.

Similarly, diligently read the emails and email addresses to and fro the relevant role-players during your property transaction. If any emails are suspicious and continually pressurizing you to make payment, make contact with your agent or attorney and ensure the communication has originated from them.

Establishing a good line of communication between yourself, conveyancing attorney and real estate agent assists greatly in mitigating these risks. Before making substantial payments double check all the information with your company representatives and follow up consistently on documentation requests.

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Topics: Property Scammers, fraudsters