ARE THE DEEDS OFFICES SEEING INCREASED REGISTRATION ACTIVITY?
Although property figures for the third quarter of this year have not yet been made available, the year-on-year comparisons for South Africa’s registered transfers for the period 24 March to 21 July in 2019 and 2020 shows an estimated 122 302 and 32 910 respectively.
According to the data, the total registrations for this period in 2019 is 304 213 comprising of transfers registered, bonds registered, and other endorsements registered as opposed to 81 630 in 2020. While there are a number of variables affecting the full purchase price and bond values, there is a marked decline for 2020 as detailed in the table below. This is attributed specifically to the effect of the Covid-19 pandemic and lockdown.
Furthermore, there is currently a marked increase in activity in the sector. The Cape Town deeds registry has confirmed a combined number of 16700 transfer and bond registrations for the month of September, and the next year on year analysis made available by the Deeds Offices will show the improved figures.
