MyJHB

Stuff from Johannesburg

Home Loan applications up 50% in June 2020

MyPR: Home Loan applications up 50% in June 2020:

MultiNET announced yesterday that June has showed a significant increase in hone loan applications submitted , they have recorded a 50% increase in submissions Year on Year. Acceptance ratios have declined mainly due to the banks being more risk averse whilst property prices have also declined by just over 1.5%.

“In summary we are seeing much higher activity in the market whilst property prices have declined, we have not seen a radical price drop. In my opinion this is a good opportunity to enter the market for first time home buyer as well as the high-end property market where prices will most centrally be more susceptible to a value decline.” says Shaun Rademeyer, CEO MultiNET Home Loans.

Housing market score out of 10

· First time home buyers 9/10

· Selling my existing home 6/10

· Getting home loan finance 7/10

· Selling my luxury property 4/10

· Buying a luxury property 9/10

Overall property sentiment 7.5/10

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Have you tried: Visiting Port Elizabeth?

Did you know this about Johannesburg? Johannesburg is the world’s largest city not built on a coastline, or on a lake or river. That’s why Joburg is also called the world’s biggest ‘dry port’. More than half of the cargo that arrives through the ports of Durban and Cape Town arrives at the container terminal at City Deep.

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From Sophiatown to Triomf

By 1963, Sophiatown had been physically razed to the ground. In a final act of psychological warfare, the government built a white working-class suburb over the rubble and named it Triumph (Triomf). They wanted to erase the very memory of Sophiatown from the landscape. For decades, the name Sophiatown disappeared from maps, replaced by the neat, sterile streets of the victors.

The “resurrection” of Sophiatown began officially in 2006, when the City of Johannesburg formally restored the original name to the suburb. Today, the neighborhood is a quiet, leafy residential area, but the ghosts of the “Paris of the Transvaal” are everywhere. The Sophiatown Heritage Centre, housed in the former home of Dr. A.B. Xuma (a former ANC president), is one of the few original buildings that escaped the bulldozers. Walking through the streets today, you can still find small markers of the past: a lone Victorian pillar, a specific tree mentioned in a poem, or the rebuilt St. Joseph’s Church.

The legacy of Sophiatown is not just one of tragedy, but of an indestructible cultural spirit. The music, the slang (Tsotsitaal), and the “Drum” era aesthetic continue to influence South African fashion and film today. It serves as a reminder that while you can bulldoze a house and rename a street, you cannot kill the soul of a place that once danced to the sound of a thousand saxophones.