South Africa’s 833% house price pain
July 10, 2024
The average property price has increased by over 833% since South Africa became a democracy, significantly outpacing inflation over the same period.
The average property price has increased by over 833% since South Africa became a democracy, significantly outpacing inflation over the same period.
The importance of informing owners of new valuations was confirmed in two recent cases.
A decision of a valuation appeal board is functus officio, meaning that a decision taken by a board is valid until it is reviewed by a higher authority.
We have compiled a convenient table of 2024/2025 tariff increases for property rates, electricity, water, sanitation, and refuse.
Rates Watch has lodged a significant number of appeals in many municipalities across South Africa. Our latest update looks at those appeals that are still outstanding in each major metro.
Households in the urban areas of South Africa are expected to pay for services like electricity, water, and effluent (or sewerage). These services can be paid for through accounts with municipalities or in some cases, with service providers like Eskom.
The year got off to a busy start and it’s hard to believe the first quarter is already over. A highlight on our company calendar has been the celebration of our 15th year in business.
SCA criticises city for failing to ‘proactively take measures to correct their unlawful conduct’.
South African Property Owners Association Releases 2023 Valuations Report: Stability Amidst Market Shifts
The city, with a population of more than six million, faces myriad challenges including fiscal pressure, crumbling infrastructure, service delivery and revenue collection problems and the provision of electricity and potable water.
The City of Johannesburg draft budget and draft Integrated Development Plan (IDP) for 2024/25 are not in line with the law, do not adequately address the needs of a city where services are collapsing, and should be amended, says the Joburg Community Action Network (JoburgCAN).
According to the Municipal Property Rates Act, 6 of 2004, each municipality must adopt a rates policy which must also be revised annually. Categorization of property is determined by the rates policy of each municipality.
The 2024 National Annual General Meeting & Seminar was held on the 9th and 10th May 2024 at the Protea Hotel in Midrand.
This judgment may have far-reaching consequences for township developers in South Africa. Municipalities may have to align their rates policies with this judgement.
The draft tariffs of all the municipalities in South Africa should have been tabled towards the end of March. We have summarised the 8 metros and 3 of the larger municipalites here.