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Many South Africans who migrated from the country in the past few years are returning to SA with better prospects here than abroad.

While South Africa’s housing market might be cooling down, activity levels are still exceeding expectations.

While South Africa’s housing market might be cooling down, activity levels are still exceeding expectations.

KwaZulu-Natal’s property market is showing signs of being impacted by the looting and violence in July, with a noticeable decline in activity in housing in the third quarter this year, FNB’s property data showed yesterday.

Key themes:  The pandemic has not had as chilling an effect as initially expected: prices growth has held up and volumes reached multi-year highs, particularly in middle-priced segments, in contrast to initial expectations. The aggressive reduction in interest rates (and mortgage rates), good pricing and lower transfer duties have momentarily improved mortgage affordability and incentivised renters to buy property. In part, this has contributed to rising flat vacancies and, subsequently, low rental inflation. The impact of the pandemic on labour markets has been disproportionate: low-paying...