Sunday Open Thread

It's time for the Sunday Open Thread!

The Orangerie: The Bloodbath Continues

Back in January we wrote how apartments in The Orangerie, which had been initially sold for well over R3 million were being sold by the developer for R2 850 000. It seems since then time has not helped those prices recover.

This ad is a new listing for a 2 bed apartment in The Orangerie.

The asking price? Now down to R2 500 000.

Rare Sale In Execution In Sea Point Spotted

Sea Point Reader-in-Chief PJ writes:

Spotted a rare notice of a Sale In Execution on an apartment in Sea Point in a block called Oakholm. Usually the process never gets that far because a buyer usually steps in beforehand. Not this time...

Sunday Open Thread

It's time for the belated Sunday Open Thread!

Well This Is A First

Just received a spam SMS from Burgundy Estates.

Guess no one is walking into the sales office anymore...

ABSA: House Prices Growth Lagging Behind Inflation

Houses hurting as inflation outpaces property prices

House prices are not growing in line with inflation, according to Absa's latest property price indices released on Monday.

"The average real price [at constant 2008 prices] of houses in the middle-segment of the market was in September this year about 13% below its peak of mid-2007," Absa Home Loans property analyst Jacques du Toit said in a statement.

"This was the result of average nominal house price growth being below the average headline consumer price inflation rate during this period."

In nominal growth, the effects of inflation are not taken into account, while real prices factor in the effect of inflation.

Your Architecture Is Sad: Sea Point

There's bad architecture... and then there's sad architecture. This 3 bed house in Sea Point sent in by reader PJ is a prime example of that. PJ writes:

Sea Point is home to a fantastic mixture of architecture. But look at this POS. It's two concrete boxes stacked on top of each other. They'll call it "modern", I call it cheap.