No significant impact on property market due to drought in WC
Dam levels in the Western Cape continue to drop by 0.8% leaving them this past week at 25.5%.
CapeTalk's Kieno Kammies looks at how the current drought situation has affected the local property markets.
He speaks to household and property sector strategist at FNB, John Loos in order to get a measure of the current property sector.
Loos says at the moment they can't really tell if the drought has negatively impacted the property market in the Western Cape.
However, he says there are signs of slowing house price growth in the Western Cape.
He says this was expected with or without drought because the Cape property market has run stronger for a number of years and now it's facing affordability challenges.
The state agent surveys are telling us that first-time buyers are a bit lower in the Western Cape compared to Gauteng and that reflects the deterioration in affordability.John Loose, Property Strategist at FNB
FNB figures indicate that the Western Cape has seen exceptional house price growth over the past five years of 50.4% to the end of December 2017.
To hear more of what Loos had to say, listen below:
This article first appeared on CapeTalk : No significant impact on property market due to drought in WC
Mayco Member for Water and Waste Services at City Of Cape TownXanthea Limberg explains.Read More
Mayco member for water and waste, Xanthea Limberg talks to Kieno Kammies about Cape Town's latest dam levels.Read More
The City has further relaxed level 3 water restrictions allowing the use of a hosepipe fitted with a self-closing system.Read More
Piotr Wolski of the Climate Systems Analysis Group at UCT talks to Kieno Kammies about this year's winter rainfall pattern.Read More
Director at the Nature Conservancy South Africa Louise Stafford says the loss is equivalent to two months water supply.Read More
Cape Town is dropping water restrictions from Level 5 to Level 3 as of Saturday, 1 December. Here's how it'll affect residents.Read More
This means that Capetonians can use 105 litres a day, up from the previous 70 litres a day come 1 December.Read More
Three UCT Biological Sciences students have published their first paper explaining how water from the Cape Town river could help.Read More
Dr Peter Johnston says although we have received good rain this year, it is still not enough.Read More
The City has responded to concerns whether the water management sevices will be adjusted to take into account new restrictions.Read More