Latest news with #BraddBendall
Zawya
5 days ago
- Business
- Zawya
Top suburbs for buy-to-let investments in South Africa: where to invest now?
High yields, low vacancies and rising rental demand are fuelling investor confidence in South Africa's rental market. With the country's average gross rental yield reaching 10.36% in Q2 2025 and national vacancy rates at their lowest since 2016, conditions are ripe for property investors. Bradd Bendall, BetterBond's National Head of Sales, says investors should look closely at suburbs offering a combination of strong rental yields and low vacancy rates — the clearest indicators of sustainable income and tenant demand. "South Africa's residential rental market is showing strong growth, with demand outpacing supply in many parts of the country, says Bradd Bendall, BetterBond's National Head of Sales. 'This, coupled with the relatively low prime lending rate, creates ideal conditions for investors looking to expand their buy-to-let portfolios.' The PayProp Rental Index for Q1 2025 reports a year-on-year rental increase of 5.6%; a performance the report describes as 'the best South Africa's rental market has seen in years'. When identifying promising suburbs for property investment, Bendall says two key metrics should be top of mind: rental yield and vacancy rate. According to the Global Property Guide, South Africa's average gross rental yield stood at 10.36% in Q2 2025. Drivers of rental yield Factors that influence rental yield include location and demand. 'Properties in urban centres, university towns or commercial hubs tend to offer higher rental returns,' says Bendall. 'Not only is the tenant demand usually high, but the rental income is more consistent.' Different property types can offer stronger rental yields. Apartments and sectional-title units typically require minimal upkeep, making them more cost-effective to maintain. Their lock-up-and-go convenience also appeals to a wide range of tenants. Properties located in areas with reliable service delivery, strong infrastructure, and robust economic activity are consistently in demand. Long-term leases tend to provide a stable and predictable income stream, while short-term rentals, particularly in popular tourist destinations along the coast, may deliver higher returns, but require more management. 'Consider your investment goals carefully when choosing where to invest in an income-generating property,' advises Bendall. 'Work with estate agents in your preferred area to understand the market and demand. Factor all costs, including levies, rates and maintenance in your calculations when estimating a property's likely rental yield.' Considering the two metrics - rental yields and vacancy rates - Bendall recommends the following buy-to-let suburbs by province: Western Cape: TPN reports that the Western Cape recorded its lowest vacancy rate to date in the third quarter of 2024. Vacancy rates dropped to 1.07%, down significantly from the previous low of 1.16% reported in early 2016. 'This low vacancy rate is a combination of high demand and low supply,' explains Bendall. 'A semigration hotspot, many people relocating from other provinces to the Western Cape will rent before they buy.' The PayProp Rental Index reports that the province also boasts the highest average rent in the country at R11,285, with a 9.6% annual increase that is well above the national average. In Cape Town, Woodstock, Observatory, and Salt River are top picks for student and young professional renters seeking proximity to universities and commercial centres. Rental yields in these suburbs range between 8% and 11%, with student accommodation developments like Peak Studios in Observatory reporting occupancy rates as high as 98%. Bellville in Cape Town's northern suburbs is also a strong performer, says Bendall. Popular with young families and young professionals, Bellville enjoys low vacancy rates and rental yields of up to 11%. 'Many of the rental properties in this area are spacious and offer comparative value for money. They are also well-located close to amenities and recreational facilities. Johannesburg: Gauteng consistently ranks as one of the top-performing provinces for rental income. Research by The African Investor indicates gross rental yields of 11% to 16% in the province, with an average rent of just over R9,200 - the third highest in the country. Sandton remains one of the most sought after suburbs in the country, with buyers and tenants drawn to a vibrant, cosmopolitan lifestyle. Located within Gauteng's economic hub, Sandton is conveniently located with easy access to airports and other parts of Gauteng. Sandton's rental market has wide appeal. It attracts young professionals, expatriates and families who want to enjoy the lifestyle it offers. Luxury sectional-title units offering convenience and security are particularly sought after in Sandton and neighbouring Rosebank, notes Bendall. Bedfordview's rental market has remained resilient, with its secure estates reporting rental occupancy rates consistently above 90%. Investors are also interested in Braamfontein, where a strong demand for student accommodation is seeing rental yields of over 10%. Similarly, a need for student accommodation is driving rental demand in Pretoria, notes Bendall. Menlyn, Brooklyn, Hatfield and Arcadia are high-demand areas, especially with students and young professionals. 'The combination of low vacancy rates and relatively high rental yields of between 9 and 11%, make these areas a good option for savvy investors. KwaZulu-Natal: According to TPN's Vacancy Survey Report for Q3 2024, the vacancy rate in KwaZulu-Natal declined to 7.12% by the end of the year, slightly lower than the 7.36% recorded in 2023. In Durban, Umhlanga and Ballito remain sought-after rental hotspots, offering consistently high rental yields and low vacancy rates. These areas are also popular among tourists and business travellers, with developments such as The Pearls of Umhlanga achieving occupancy rates of up to 90%. 'The North Coast of KwaZulu-Natal is experiencing significant growth, with new developments attracting a range of buyers and investors,' says Bendall. The Sibaya Coastal Precinct, by example, offers a dynamic work-live-play lifestyle and a variety of rental properties designed to meet tenants' changing needs. Time to invest With the prime lending rate currently at 10.75%, the climate is favourable for savvy investors looking to secure high-yield rental properties with low vacancy rates. 'A well-located property in areas with strong access to transport, education, and economic opportunities is more likely to deliver solid rental returns and sustained occupancy.' says Bendall. 'Investors would do well to make the most of the current rates environment by investing in property in areas where the demand for rental accommodation is high and sustained.'
IOL News
11-07-2025
- Business
- IOL News
South Africa's homebuying activity declines in the second quarter of the year: what you need to know
Four regions experienced positive year-on-year increases in average home prices during the first half of this year with the Eastern Cape leading the pack followed by the North West. Image: Kindel Media/Pexels South Africa's homebuying activity during the second quarter of this year could not match the performance of the first quarter, according to the July 2025 BetterBond Property Brief. This was despite a fairly active month in May, as well as a marginal decline in the prime lending rate. Fortunately, however, the year-on-year(YOY) increase in the number of home loan applications did increase with the bonus of an increase that outpaced the rise in the latest consumer price index (CPI), namely 7.4% (CPI was at merely 2.8% at the end of May). 'The residential property market still has a long way to go before breaching the levels of activity experienced at the beginning of 2021-prior to the Monetary Policy Committee (MPC) embarking on a restrictive policy approach that saw the prime rate climb to a 15-year high,' says Bradd Bendall, BetterBond's International head of sales. 'The index for the 12 months ending in May 2025 is now 28% lower than four years ago. Fortunately, a measure of stability has returned to the residential property market, with the latest index reading 4.5% higher than two years ago. "With the CPI remaining below the MPC's target range for inflation, there is an excellent chance for another rate cut at the end of July,' he said. The brief showed that after reaching an all-time high of R1.3 million during the first quarter of this year, the average house price for first-time buyers (FTBs) declined marginally to R1.28 million in the second quarter. It showed that the subdued level of activity in homebuying has manifested itself in YOY declines for all buyers and FTBs alike, both in nominal and real terms. 'During Q2 2025, the average house price for all buyers amounted to R1.58 million, confirming the continued presence of a buyer's market for houses, as do the declines of 6.4% and 8.3%, for real house prices for all buyers and FTBs, respectively, since Q1 2022. "After this date, the relentless rise in interest rates started to bite into the pockets of prospective homeowners. "With the debt service costs as a percentage of household income having moved rapidly from 6.7% in 2021 to 9.1% in 2024, the dampening effect on residential property market activity was no surprise. Fortunately, the latter has started to decline and is now at 8.9%.' For the first half of last year, the brief showed that the average deposits required for home loan approvals reached a peak, but this trend has now been reversed, with a YOY decline of 17% for FTBs and 11% for all buyers having been recorded in the second quarter of this year. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ After moving to over R300 000 since the end of 2023, this value declined to an average of R272 000 during the second quarter. FTBs are said to have benefited even more, with a decline in the average deposit from just below R200 000 a year ago to R165 000 in this period. 'After a gradual increase until Q1 2024, the ratio of bank credit impairments to total bank assets has declined marginally to 2.5%. The deceleration in the growth of credit impairments at South African banks is a welcome development and confirms a high level of effective credit risk management.' The regional composition of home loans granted showed a YOY increase of 13.6%. The reasons for this positive trend were the marginal interest rate relief, with the prime lending rate now at 10.75%, compared to 11.25% at the beginning of this year. Bendall said that although criticism has been levelled against the monetary policy authorities for not lowering interest rates at a faster pace, any lowering immediately raises the affordability of home purchases, especially for FTBs. 'Another reason has been the declining trend of real home prices (after adjustment for inflation). Combined with sustained increases in real incomes of home loan applicants, this has also enhanced the attractiveness of buying a house. Johannesburg's South-Eastern suburbs came in at number one for loans granted,' Bendall said. The Brief showed that over the 12 months from June last year to June this year, only two regions experienced a decline in the number of home loans granted. These were the Eastern Cape and Mpumalanga. Two other regions that also underperformed relative to the rest of the regions and the national average increase of almost 14% were the North West and Johannesburg's North-Western suburbs. Greater Pretoria fared exceptionally well, with an increase in the number of home loans granted of 26.7%, possibly because of being home to the largest residential University in the country and also a number of motor vehicle manufacturers, which have spawned a large and diversified component manufacturing supply chain, the brief said. Predictably, it said the Western Cape continues to expand its home loan activity, with YOY growth of 14.7% for loans granted. Bendall said the first four months of the year have revealed striking differences in the values of houses and flats that were built in South Africa's provinces, with a spread of 100 percentage points between the worst and best performers. He said KwaZulu-Natal ruled the roost, with a YOY increase of 53.6%, whilst the Eastern Cape disappointed with a decline of 46.5%. The Western Cape was second best, with an increase of 32%, which he said is not surprising, given the ongoing phenomenon known as semigration, mainly due to superior standards of public service delivery at the provincial and municipal level. Building activity in Gauteng declined by 20% YOY, likely due to long-standing and serious deficiencies with basic service delivery, especially with water, electricity and roads. The continued demise of capital formation, especially in the area of infrastructure, has also contributed to a decline in the Afrimat Construction Index in the first quarter of this year, which reflects the lethargy of building activity, says Dr Roelof Botha, an economist and advisor to the Optimum Investment Group and Currencies Direct. 'Unless interest rates start declining at a faster pace, South Africa will continue to experience sub-optimal economic growth, due to the excessively high cost of credit and capital,' Botha said. Independent Media Property
The Citizen
25-06-2025
- Business
- The Citizen
Flexible, tech-savvy and independent – SA's youth is shaping the property market
South Africa's youth may be entering the property market later than previous generations — but when they do, they're doing it on their own terms. From flexible co-living spaces to joint bonds with friends, Gen Z and Millennial buyers are challenging the old rules of homeownership, says Bradd Bendall, BetterBond's national head of sales. Recent data from BetterBond and Lightstone shows that buyers under 35 now account for nearly a third of all residential property transactions, with first-time buyers — 69% of whom are under 35 — dominating home loan approvals. 'Younger buyers are still very active in the home loan space, even if they're waiting a bit longer to make their first purchase,' says Bradd Bendall, BetterBond's National Head of Sales. 'They're approaching property investment with a more considered, flexible mindset.' Lightstone data shows that buyers aged 20 to 35 accounted for nearly a third of all residential property transactions in 2024, making them the second-largest buyer group after those aged 36 to 50. BetterBond data, meanwhile, reveals the average age of a first-time buyer is now 37, suggesting that many are choosing to wait until they are financially stable before stepping onto the property ladder. Yet they are still a force to be reckoned with: FNB reports that first-time buyers made up nearly 68% of all bond approvals in April 2024, with 69% of those falling within the 'youth' category. Gen Z: digital-first and flexible The younger cohort of this market — Gen Z buyers aged 20 to 28 — are especially tech-savvy and values-driven. They want homes that support smart technology, sustainability, and flexible living arrangements. 'These buyers are open to alternatives like micro-apartments for lock-up-and-go living, or co-living spaces with shared amenities,' explains Bendall. 'They're also more likely to apply for joint bonds with friends or family to increase affordability — and many qualify for 100% loans.' Gen Z prefers to manage their homebuying journey digitally — from affordability calculations to pre-approval and bond applications — often using BetterBond's online tools. Millennials: independent and investment – wise Millennials (aged 29 to 44) are taking a different path — but they're just as determined. 'We're seeing a strong trend among Millennial buyers, especially single black women under 40, who are choosing to buy property independently rather than wait for marriage,' says Bendall. This group is strategic: they're open to joint bond partnerships with friends, rentvesting (buying in affordable areas while renting where they want to live), and focusing on lifestyle over size. Many prefer smaller sectional title homes or apartments in mixed-use, security estates — especially in vibrant urban areas like Cape Town's CBD. As research from audience research company GWI shows, Millennials want to invest in their health and wellness, lifestyle is an important consideration when it comes to buying a home, says Bendall. 'The size of the property is less important than its location and access to amenities.' Bigger budgets, bigger ambitions Younger buyers are also spending more on property than they did last year. BetterBond's application data shows that Gen Z buyers are now spending an average of R1.5 million — up almost 7% and Millennials are averaging around R1.25 million on a home purchase. Part of this increase is due to rising home prices, but improved income levels and a more favourable interest rate outlook play a hand too. Importantly, the transfer duty threshold has been raised to R1.21 million, making property more accessible to this group of buyers. Market outlook The rise of younger buyers — especially in the first-time buyer segment — is a strong driver of home loan activity and an encouraging sign of renewed confidence in the housing market. Their demand for flexible, affordable, and digital-first solutions is reshaping how developers design homes and how estate agents manage transactions, adds Bendall. For example, developers are increasingly including co-living spaces, energy-efficient features, and remote working hubs in new builds, while estate agents are streamlining the buying process with virtual tours, online bond calculators, and digital application tools. 'Today's young buyers know what they want — and they're not afraid to rewrite the rules to get there,' says Bendall. 'That's good news for the future of the South African property market.' Issued by Lia Mundell
IOL News
26-05-2025
- Business
- IOL News
Interest rates in flux: property expert discusses potential outcomes amid uncertainty
All eyes will be on the South African Reserve Bank's (SARB) Monetary Policy Committee's decision on where it leaves the interest rates this week. Image: Bongani Shilubane/ Independent Newspapers. The outcome of Thursday's Monetary Policy Committee meeting could go either way in these uncertain times. Bradd Bendall, National Head of Sales at BetterBond, said while recent global and local economic indicators might suggest that there is room for a much-needed rate cut, the South African Reserve Bank's decision remains difficult to call. 'However, we are optimistic that the Reserve Bank will take a bold stance to lower the prime lending rate by at least 25 bps. It seems like the right time to adopt a more accommodating approach. "Inflation has been trending downwards since last year, and the US's pause on tariff measures has returned some stability to global markets. We have seen the Bank of England and the European Central Bank drop their respective repo rates by 25 bps, and we expect South Africa to follow suit,' Bendall said. He said that if the rate does drop, it will only be the second cut this year. The shift will certainly bring welcome relief to homeowners and consumers grappling with higher living expenses and fuel tax hikes, he added. BetterBond said its home loan applications have increased by 2.2% year on year, according to their May data, signalling a recovery in home buying activity after a period of stagnation. It said any further rate cuts will go a long way to boosting the housing market. 'At a time when the world is holding its breath amid global monetary policy shifts, a drop in the prime lending rate would send a strong signal that South Africa prioritises economic growth and market stability.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ On Monday morning, Reezwana Sumad, research analyst at Nedbank CIB, said the final session of last week saw the USDZAR trading at R17.93 at the open. 'Overall, the local unit posted steady gains. After having had a brief foray towards the R18 00 level, it ended the session trading at R17.84. This morning, the USDZAR is currently trading at R17.81. "The major currency pairs also traded broadly firmer over the course of the previous session, with the EURUSD trading at 1,1410 this morning from the previous open at 1,1312 and the GBPUSD at 1,3580. "Possible trading range for the USDZAR today is R17.65 to R17.95. The markets are likely to trade cautiously today, and liquidity is at a premium, as both the London and New York markets are closed. The local unit continues to trade in positive territory, as the USD remains under pressure across the board,' Sumad said. At the beginning of this month, Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, said he believes that the benefits of an interest rate cut at this time would outweigh the potential risks that the SARB is guarding against. Thus far, the ongoing global trade tensions and domestic economic challenges have led the SARB to adopt a cautious approach, favouring rate stability to navigate potential risks. 'Reducing the repo rate could boost consumer confidence, increase affordability, and encourage greater economic growth. Lower interest rates translate into reduced monthly repayments on home loans and other debts, putting more money back into consumers' pockets and stimulating broader economic activity. "This additional disposable income will positively impact other sectors reliant on consumer spending, driving economic growth across the board,' Goslett said. Moreover, Goslett added that an interest rate cut will send a strong positive signal to international and local investors, reinforcing confidence in South Africa's economic recovery trajectory, especially following the instability around VAT. Despite inflation being the lowest it has been since June 2020, economists widely anticipate that the SARB will keep the repo rate unchanged later this week. Independent Media Property
IOL News
13-05-2025
- Business
- IOL News
Unlocking additional income: how your home can help during tough times
A brand new event hall, nestled within the Phoenix Children's Centre, is now available for public rentals, offering an exceptional venue for a variety of occasions and gatherings. Image: Picture: Supplied Homeowners can unlock additional income through their homes while staying compliant with local zoning and insurance requirements, noted a property expert. Bradd Bendall, national head of sales at BetterBond, said the house one calls a home can be so much more than the place where they live. 'A home can also be a source of additional income, especially during challenging financial times." "It is possible to use your home to bring in some extra money that you can use towards your bond repayments or to contribute towards household expenses,' Bendall stated. He noted that if one has a spare room or space on their property, they can consider getting a tenant. He added that this works well if the room or space has its own entrance so that both parties enjoy some privacy and freedom of movement. Where the property has a small cottage or flatlet, this would be an ideal option. Student accommodation is always in demand, so those who have a room or flat on their property and live close to a tertiary institution could derive reliable income during the academic year. Bendall noted that unused spaces like a garage or driveway on the property can be offered to neighbours who may need additional parking or whose properties may not have space for their cars. "In Clifton, where parking is a luxury, it was not unusual for parking bays of 16 square metres to sell for R2.5 million, he said. "An empty garage can also be rented as a storage space," added Bendall. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ A recent study on the economic impact of Airbnb in Cape Town found that 49% of hosts surveyed saw their Airbnb income as an 'economic lifeline' that helped them afford their homes. Half revealed that the additional income helped them keep up with the rising cost of living. With the launch of Airbnb Rooms, it is now possible to offer just one room in the home for short-term rental, if it meets certain criteria. These include a private bedroom with a door, access to a private or shared bathroom, and access to at least one common space such as a garden or kitchen. "Those hosting guests in their home for income must let their insurance company know so that they can be properly covered in case of theft or damage," advised Bendall. This means instituting hospitality risk insurance that will allow for hosting-related claims. He said that a home with distinctive architectural features or is set in a sought-after location, could be rented as a venue for events, weddings or even film shoots. "Historical homes are also sought after for films or magazine shoots. Do your research and register your home with a reputable location agent,' said Bendall. 'Before opening your home to film crews, be clear about which parts of your home will be used and the duration of the shoot so that you can minimise disruption. Having your home as a location can be a lucrative source of additional income.' Bendall said many people have shifted to remote working, and most homes have space for a home office. "You just need good internet connectivity or Wi-Fi, decent lighting, and a dedicated space to create a home office." He said having a solar system is also a good idea because this minimises the risk of disruption from load shedding and also saves on energy costs. Bendall said working from home or running a small business does not require special permission from the municipality. There are also tax benefits associated with using part of that home for business purposes. "So-called 'micro businesses' do not need special permissions to operate in a residential zone, he explained. These include small bed-and-breakfast establishments, hair or beauty salons, crèches or daycares with a limited number of children, and medical practices. Where one would like to open an independent or cottage school accommodating six or more children on their property, they may need to change the zoning to allow the property to be used as a place of instruction. With a few modifications, one's home can be used for a variety of activities or services. Home-based yoga studios or fitness centres are popular with those who prefer smaller group activities. "If a homeowner has a well-sized heated or indoor pool, they could offer swimming lessons. Always be mindful of the applicable zoning and land-use regulations," suggested Bendall. While within general residential zonings there are controlled opportunities for home businesses, larger business operations may require a consent use or temporary departure from the municipality. 'When deciding whether to run a business from home, consult with your local district planning office about the necessary permissions and zoning regulations. You will need to take factors such as parking and possible traffic congestion in a residential area into account,' he said. In June 2023, the Human Sciences Research Council (HSRC) published an article titled 'Small-scale rental housing: an impact story', by then senior research specialist in the HSRC's Equitable Education and Economies (EEE) division, Dr Andreas Scheba, and Professor Ivan Turok, also a distinguished research fellow in the HSRC's EEE division. The research revealed that the growth of small-scale rental housing-especially in South Africa's larger cities-offers enormous opportunities, despite its informal and, in many cases, unauthorised character. 'Small-scale rental housing addresses some of the country's biggest development challenges through delivering affordable rental accommodation, stimulating local economic development and employment, and promoting social transformation," the research revealed. "Homeowners, many of whom once received a government-subsidised house, and entrepreneurial micro-developers are investing millions of rand in constructing higher-quality rental flats in their backyards, or across entire properties." "This is taking place without any direct government support. In fact, until recently, all spheres of government have largely neglected this phenomenon, thus inadvertently contributing to its largely informal, unauthorised nature and associated drawbacks," it revealed. Independent Media Property
