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State of the Property Market

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Rode’s State of the Property Market

State of the property market in quarter 4 of 2009

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Opposing forces acting on capitalization rates
• Cape Town and Johannesburg decentralized office rentals in the red
• Demand prospects improving, but industrial rentals now contracting
• Flat rental growth remains flat

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State of the property market in quarter 3 of 2009

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Cap rates moving sideways
• Uptrend in office vacancies striking
• Flat landlords under huge stress
• Nominal house prices turning the corner

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State of the property market in quarter 2 of 2009

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Modest real-rental growth to hold back cap rates
• Still fairly good office-rental growth, but decelerating trend picking up
• Flat rentals flat-lining
• Signs of a nominal recovery, but real prices most likely to continue heading south

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State of the property market in quarter 1 of 2009

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Are cap rates topping?
• Office market still in upswing
• Industrial rental growth curbed to single digits
• Tough times ahead for the affordable house market

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State of the property market in quarter 4 of 2008

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Capitalization rates could be peaking
• Listed yields strengthen on back of stronger long-bond yields
• The house market: Recovery or kaput in 2009?
• Cement sales remain in the red
• Inflation expectations nose-diving

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State of the property market in quarter 3 of 2008

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Capitalization rates’ tide turning
• Office market continues to enjoy double-digit rental growth
• Cooling industrial rental growth
• Stalling house prices
• Building-cost inflation collapsing?

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State of the property market in quarter 2 of 2008

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Cap rates showing a weakening (increasing) trend
• Office rentals continue to grow impressively
• Real house-price cycle topping in
• Levelling-off in office and industrial building plans passed

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State of the property market in quarter 1 of 2008

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Industrial-leaseback and shopping-centre capitalization rates feeling the pinch, but no need to panic yet
• Vacant prime office space remains a rare commodity
• Industrial stands taking a break from triple-digit-growth rates
• More heavy blows expected in the residential property market

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State of the property market in quarter 4 of 2007

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Higher risk brought on by electricity shock might soon be reflected in capitalization rates
• Pretoria and Durban decentralized office rental growth lagging behind
• Industrial rentals continue to grow fervently
• Exceptional growth of industrial stand values sustained by industrial rental’s leveraging effect
• People of colour dominating lower-priced house market
• Non-residential building ambitions cooling off as well

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State of the property market in quarter 3 of 2007

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Cap rates’ mixed reaction to interest-rate hikes
• Top decentralized office nodes show strong nominal growth
• Industrial real rental upswing phase now strongly entrenched
• Industrial stand values continue to surge
• House prices still growing at double-digit rates; but for how long?
• Non-residential contractors more upbeat about future building conditions than their residential counterparts

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State of the property market in quarter 2 of 2007

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Cap rates are tending south again
• Johannesburg’s office rentals are leading the upswing on the back of low vacancies
• Office-zoned stands have great investment potential
• The industrial market is still booming
• The house market is still decelerating
• The future belongs to non-residential contractors

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State of the property market in quarter 1 of 2007

The following are significant findings or conclusions made in this issue of Rode’s Report:
• Cap rates on an even keel
• Double-digit income-stream growth for listed funds
• Cape Town and Pretoria office markets battle to turn the corner
• Industrial rentals still steaming ahead
• House prices still showing little impact of interest-rate hikes
• Residential contractors’ profit margins are contracting

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