Blog March 2016
As the Easter Holidays are upon us, let us update you on the first quarter of 2016.Firstly, the much talked about disaster. Cape St Francis suffered its worst wild fire since its inception. The fire was allegedly started by an illegal flare shooting near the now defunct rubbish dump between Cape St Francis and St Francis Bay. Due to a culmination of unfortunate events the fire became a monster which was battled for over a week. Numerous additional fire crews were dispatched, including helicopters to battle the blaze and fortunately the damage was minimal. The resilience of our community pushed to its limits, we are grateful to those who chipped in to make a difference. Thank you.
On the up side to all this, in the next year we will have the most beautiful display of coastal flowers and fynbos. Let’s hope for good rainfall this winter and a short recovery. Please visit FOSTER’s website www.foster.org.za for updates regarding the surrounding nature reserves and its post-fire recovery process.
Also in the news has been the drive to nominate and certify Cape St Francis’ pristine beach, as blue flag status! This means upgrading of the beach facilities to meet the stringent requirements in terms of safety, access and amenities. Blue flag status will boost our visibility among tourists and safe guard our beach, as a jewel among the garden route. It will be another positive contributor to property values in Cape St Francis and will in terms of property, add to their values.
Regarding more general property news, the upward interest rate cycle is in full swing, with an increase of 0.25% on the 17th of March. This increase brings the prime lending rate to 10.5%. No doubt the after effects of a recently depreciating rand, as our SARB implements its primary mandate of inflation targeting. With the majority of purchases in Cape St Francis being cash, the effect will be negligible on our market.
Should you wish to discuss your requirements regarding buying or selling a property in Cape St Francis, please visit us or send us an email.
Regards
Jal and Frieda
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