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Rode & Associates (Pty) Ltd. complies with section 51 of the Promotion of Access to Information Act, no. 2 of 2000.

Rode & Genote (Edms.) Bpk. voldoen aan artikel 51 van die Wet op die Bevordering van Toegang tot Inligting, nr. 2 van 2000.

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State of the property market in South Africa

 

State of the property market pic

State of the property market in quarter 4 of 2009

John S Lottering: March 2010

The following are the significant findings or conclusions made in this issue of Rode’s Report:

  • Cap rates moving sideways
  • Uptrend in office vacancies striking
  • Flat landlords under huge stress
  • Nominal house prices turning the corner

PDF: To read the full article please click here >> (PDF – 31 KB)

 

State of the property market in quarter 3 of 2009

John S Lottering: November 2009

The following are the significant findings or conclusions made in this issue of Rode’s Report:

  • Cap rates moving sideways
  • Uptrend in office vacancies striking
  • Flat landlords under huge stress
  • Nominal house prices turning the corner

PDF: To read the full article please click here >> (PDF – 38 KB)

 

State of the property market in quarter 2 of 2009

John S Lottering: August 2009

The following are the significant findings or conclusions made in this issue of Rode’s Report:

  • Modest real-rental growth to hold back cap rates
  • Still fairly good office-rental growth, but decelerating trend picking up
  • Flat rentals flat-lining
  • Signs of a nominal recovery, but real prices most likely to continue heading south

PDF: To read the full article please click here >> (PDF – 57 KB)

State of the property market in quarter 1 of 2009

John S Lottering: July 2009

The following are the significant findings or conclusions made in this issue of Rode’s Report:

  • Are cap rates topping?
  • Office market still in upswing
  • Industrial rental growth curbed to single digits
  • Tough times ahead for the affordable house market

PDF: To read the full article please click here >> (PDF – 56 KB)

 

State of the property market in quarter 4 of 2008

John S Lottering: March 2009

The following are the significant findings or conclusions made in this issue of Rode’s Report:

  • Capitalization rates could be peaking.
  • Listed yields strengthen on back of stronger long-bond yields.
  • The house market: Recovery or kaput in 2009?
  • Cement sales remain in the red.
  • Inflation expectations nose-diving.

PDF: To read the full article please click here >> (PDF – 38 KB)

 

State of the property market in quarter 3 of 2008

John S Lottering: December 2008

The following are the significant findings or conclusions made in this issue of Rode’s Report:

  • Capitalization rates’ tide turning.
  • Office market continues to enjoy double-digit rental growth.
  • Cooling industrial rental growth.
  • Stalling house prices.
  • Building-cost inflation collapsing?

PDF: To read the full article please click here >> (PDF – 38 KB)

 

State of the property market in quarter 2 of 2008

John S Lottering: October 2008

The following are the significant findings or conclusions made in this issue of Rode’s Report:

  • Cap rates showing a weakening (increasing) trend.
  • Office rentals continue to grow impressively.
  • Real house-price cycle topping in
  • Levelling-off in office and industrial building plans passed.

PDF: To read the full article please click here >> (PDF – 39 KB)

 

State of the property market in quarter 1 of 2008

John S Lottering: July 2008

The following are the significant findings or conclusions made in this issue of Rode’s Report:

  • Industrial-leaseback and shopping-centre capitalization rates feeling the pinch, but no need to panic yet.
  • Vacant prime office space remains a rare commodity.
  • Industrial stands taking a break from triple-digit-growth rates.
  • More heavy blows expected in the residential property market.

PDF: To read the full article please click here >> (PDF – 67 KB)

 

State of the property market in quarter 4 of 2007

Garth Johnson: April 2008

The following are significant findings or conclusions made in this issue of Rode's Report:

  • Higher risk brought on by electricity shock might soon be reflected in capitalization rates.
  • Pretoria and Durban decentralized office rental growth lagging behind.
  • Industrial rentals continue to grow fervently.
  • Exceptional growth of industrial stand values sustained by industrial rental’s leveraging effect
  • People of colour dominating lower-priced house market
  • Non-residential building ambitions cooling off as well

PDF: To read the full article please click here >> (PDF – 43 KB)

 

State of the property market in quarter 3 of 2007

Garth Johnson: December 2007

The following are significant findings or conclusions made in this issue of Rode's Report:

  • Cap rates’ mixed reaction to interest-rate hikes.
  • Top decentralized office nodes show strong nominal growth.
  • Industrial real rental upswing phase now strongly entrenched.
  • Industrial stand values continue to surge.
  • House prices still growing at double-digit rates; but for how long?
  • Non-residential contractors more upbeat about future building conditions than their residential counterparts.

PDF: To read the full article please click here >> (PDF – 113 KB)

 

State of the property market in quarter 2 of 2007

Garth Johnson: September 2007

The following are significant findings or conclusions made in this issue of Rode's Report:

  • Cap rates are tending south again
  • Johannesburg’s office rentals are leading the upswing on the back of low vacancies
  • Office-zoned stands have great investment potential
  • The industrial market is still booming
  • The house market is still decelerating
  • The future belongs to non-residential contractors.

PDF: To read the full article please click here >> (PDF – 81 KB)

 

State of the property market in quarter 1 of 2007

Garth Johnson: June 2007

The following are significant findings or conclusions made in this issue of Rode's Report:

  • Cap rates on an even keel.
  • Double-digit income-stream growth for listed funds
  • Cape Town and Pretoria office markets battle to turn the corner
  • Industrial rentals still steaming ahead
  • House prices still showing little impact of interest-rate hikes
  • Residential contractors’ profit margins are contracting.

PDF: To read the full article please click here >> (PDF – 82 KB)

 

State of the property market in quarter 4 of 2006

Garth Johnson: March 2007

The following are significant findings or conclusions made in this issue of Rode's Report:

  • Cap rates take a breather.
  • Listed property’s comeback.
  • Office market accelerates but Cape Town still in doldrums.
  • Industrial boom still on.
  • House-price deceleration takes a break.
  • Building contractors remain optimistic

Get the article (PDF) To read the full article please click here >> (PDF – 82 KB)

 

State of the property market in quarter 3 of 2006

Garth Johnson: December 2006

The following are significant findings or conclusions made in this issue of Rode's Report:

  • Cap rates putting on the brakes.
  • Investors in listed funds wake up to fundamentals.
  • Office rentals still haven’t taken off convincingly.
  • Industrial boom far from over.
  • Small-town houses offer the best yields.
  • Building contractors’ growth in profit margins slows.

Get the article (PDF) To read the full article please click here >> (PDF – 78 KB)

 

State of the property market in quarter 2 of 2006

Garth Johnson: September 2006

The following are significant findings or conclusions made in this issue of Rode's Report:

  • Cap rates resist threat of interest-rate hikes.
  • Listed property’s recent blow.
  • Office market’s vigour starts to show.
  • Industrial rentals continue to grow.
  • House-price growth still declining.
  • Building activity set to keep pressure on building costs.

Get the article (PDF) To read the full article please click here >> (PDF – 47 KB)

 

State of the property market in quarter 1 of 2006

Garth Johnson: June 2006

The following are significant findings or conclusions made in this issue of Rode's Report:

  • Capitalization rates and hurdle rates still falling.
  • Listed property’s income yields surprise again.
  • Real office rentals still battling to turn the corner.
  • Prospects for industrial property remain good.
  • House-price growth decelerates further.
  • Building-cost inflation remains high.

Get the article (PDF) To read the full article please click here >> (PDF – 118 KB)

 

State of the property market in quarter 4 of 2005

Garth Johnson: March 2006

The following are significant findings or conclusions made in this issue of Rode's Report:

  • Capitalization rates continued their decline
  • Leaseback escalation rates seem fair
  • Income-stream growth of listed funds holds key to future returns.
  • Real decentralized office rentals continued to decline.
  • Rentals in most of the major industrial conurbations continued to grow.
  • Flat-rental growth still not beating building-cost inflation.
  • House-price growth still has some momentum.
  • Building-cost inflation expected to remain robust.

Get the article (PDF) To read the full article please click here >> (PDF – 78 KB)

 

State of the property market in quarter 3 of 2005

Garth Johnson: November 2005

The following are significant findings or conclusions made in this issue of Rode's Report :

  • Shopping-centre capitalization rates take a breather.
  • Income-stream growth drives listed funds' prices.
  • Nominal rental growth shows promise, but is still not close to beating building-cost inflation.
  • Industrial rentals still racing ahead.
  • House prices still losing steam.
  • Building-cost inflation still strong as a result of robust building activity.

Get the article (PDF) To read the full article please click here >> (PDF – 179 KB)

 

State of the property market in quarter 2 of 2005

Garth Johnson: September 2005

The following are significant findings or conclusions made in this issue of Rode’s Report:

  • Capitalization rates for all property types are still declining, although office and industrial rates probably still have the most to shed.
  • Listed property yields are expected to remain around current levels in the short to medium term ...

Get the article (PDF) To read the full article please click here >> (PDF – 173 KB)

 

State of the property market in quarter 1 of 2005

Garth Johnson: June 2005

Demand for industrial and office space continued to strengthen during the first quarter of 2005. However, the office market is still lagging the industrial market on some fronts. Even though house-price growth decelerated during the reporting quarter, it is still growing at an awesome rate.

Get the article (PDF) To read the full article please click here >> (PDF – 173 KB)

 

State of the property market in quarter 4 of 2004

Garth Johnson: March 2005

On the non-residential front, the office market is still battling in places, but solace is to be found in the industrial property market, which is still in fifth gear. Anecdotal evidence suggests that the residential property market was still growing at a firm pace in the first two months of 2005, which is what we expect it to do for the remainder of the year, albeit not at the same tempo as in 2004.

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State of the property market in quarter 3 of 2004

Garth Johnson: December 2004

All indications are that the focus will shift from residential to non-residential property over the next few years. Notwithstanding this, the residential property market is expected to lose steam only slowly. Hence, next year will probably be a good year for property all round.

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State of the property market in quarter 2 of 2004

Garth Johnson: September 2004

Non-residential property's market values increased further in the second quarter of 2004, driven mainly by the continued rerating of property by investors.

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State of the property market in quarter 1 of 2004

Dirk De Vynck: June 2004

Conditions in the non-residential property market improved further in the first quarter of 2004, with the majority of property indicators showing that an upswing in real rentals must be close.

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State of the property market in quarter 4 of 2003

Dirk De Vynck: March 2004

On the whole, conditions in the non-residential property market seem to be improving. Evidence of this can be found in the continued decline of standard capitalization rates as well the healthy office take-up recorded in especially the decentralized office nodes. However, by the end of 2003, there was still no recovery in the real rentals of office and industrial buildings.

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State of the property market in quarter 3 of 2003

Dirk De Vynck: November 2003

Finally! Non-residential property appears to be over the worst. The best evidence of this can be found in the decline of standard capitalization rates in quarter 2003:3, which was noticed for all non-residential property types, except industrials.

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State of the property market in quarter 2 of 2003

Dirk De Vynck: September 2003

On average, the majority of our non-residential property indicators for quarter 2003:2 still pointed to a market under siege. As for residential property, house prices were still firmly nestled in their upswing, whilst real flat rentals were consolidating.

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