{"id":3031,"date":"2017-07-12T07:00:20","date_gmt":"2017-07-12T06:00:20","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=3031"},"modified":"2017-07-12T07:00:20","modified_gmt":"2017-07-12T06:00:20","slug":"nus-concerns-cape-town-residents","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/07\/12\/nus-concerns-cape-town-residents\/","title":{"rendered":"NU\u2019s concerns for Cape Town residents"},"content":{"rendered":"<p><strong>South African housing lobbyist Ndifuna Ukwazi (NU) has released a report damning the spiralling cost of living in Cape Town.<\/strong><\/p>\n<p>The group claim that the escalating cost of property \u2013 to <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/24\/knight-frank-reveals-prime-rent-index\/\" target>both buy and rent<\/a> \u2013 are causing many people to be relocated against their will.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"htP8uGVR68\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/01\/cape-town-experiences-property-growth\/\">Cape Town experiences property growth<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Cape Town experiences property growth&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/01\/cape-town-experiences-property-growth\/embed\/#?secret=sWHtGwFLMf#?secret=htP8uGVR68\" data-secret=\"htP8uGVR68\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>The NU has even stated that this rapid displacement of people, which mostly affects the city\u2019s poorer inhabitants, has a feel of apartheid.<\/p>\n<p>According to NU, only 13% of purchasers in Cape Town are first-time buyers, with the majority of properties being purchased for investment purposes. This has resulted in spiralling house prices, with the city <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/20\/nine-best-places-invest-in-property-revealed\/\" target>having the highest prices<\/a> in South Africa.<\/p>\n<p>Despite this, prices are still increasing year-on-year beyond inflation. Last year, Cape Town had the third-highest annual property inflation in the world at 16.1% \u2013 beaten only by Shanghai and Vancouver.<\/p>\n<p>The average home in the South African city now costs just over R1 million. In order to afford a home, a resident must earn three times the average annual income of R156,000 in order to qualify for a mortgage.<\/p>\n<p>The NU report highlights how rapid gentrification is creating a vicious cycle.  <\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"QtKuZqMW0w\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/07\/05\/homeowners-back-australian-property-ladder\/\">Homeowners back on the Australian property ladder<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Homeowners back on the Australian property ladder&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/07\/05\/homeowners-back-australian-property-ladder\/embed\/#?secret=zeLSBComMq#?secret=QtKuZqMW0w\" data-secret=\"QtKuZqMW0w\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>\u201cWhen residents cannot afford the increasing rentals, they are sent to one of the city\u2019s relocation camps like Wolwerivier or Blikkiesdorp, which are far away from the CBD,\u201d claims the group. <\/p>\n<blockquote><p>\u201cFamilies and providers then have to spend more on travel to work, making their situation even more desperate and driving youths \u2013 with fewer opportunities for education and employment \u2013 to gang culture.\u201d<\/p><\/blockquote>\n<p>Ndifuna Ukwazi is proposing that abandoned buildings, such as old hospitals and disused industrial spaces, should be used as temporary living spaces for those citizens being outmuscled by big businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South African housing lobbyist Ndifuna Ukwazi (NU) has released a report damning the spiralling cost of living in Cape Town. The group claim that the escalating cost of property \u2013 to both buy and rent \u2013 are causing many people to be relocated against their will. Cape Town experiences property growth The NU has even<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/07\/12\/nus-concerns-cape-town-residents\/\" title=\"ReadNU\u2019s concerns for Cape Town residents\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[141],"tags":[222,239,212,214,223],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/3031"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=3031"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/3031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4259"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=3031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=3031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=3031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}