Submit your Vacancies for 2020 Q3

A quick summation of the second quarter of 2020 - “varying degrees of lockdown!” For the month of April it was a hard lockdown, no one moving in and no one moving out. The month of May saw two relaxations for relocation with tenants, landlords and agents jumping at the chance to get people moving again.

The TPN Vacancy Survey is polled in the 3rd week of the middle month each quarter; for Q2 2020 that was 21 – 27 May. This is important to note because South Africa was out of hard lockdown and the relocation rules were sufficiently relaxed to allow tenants to move, although property viewings were still not in place, the market was opening up. 

It’s time to submit Vacancies for Quarter 3 – word on the street suggests vacancies are increasing, we need your data input to confirm or deny this! 

Many landlords experienced forced vacancies as property viewings were prohibited and movement restricted, vacancies shot back up over nine percent to 9.13% from 7.47% the previous quarter. The Reserve Bank expects “job losses to be widespread”, further impacting the property market as many tenants look at downscaling or co-sharing options potentially pushing vacancies up in the future.

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