During the recent NAR seminar series, Mr Steven Ngubeni, Chairperson of the PPRA made an enlightening address in which he laid out several clear goals of the Authortiy, a primary one he explained as, “It is our express intention that to ensure that the anatomy of property practice in South Africa reflects the demographics of a democratic South Africa. In practical terms this means opportunities for more blacks in general, and Africans in particular, it does not mean at the expense of the whites. It means more women, it means more youth, and it means more persons living with disabilities… In the same vein, it also means an inevitable need to grow the real estate market. You don’t bring more people to eat, and not increase the size of the cake”.
To this end he recalls how Soweto developed as a property market post 1994 saying, “They have done something right”, and “if Soweto was able to do it, we can certainly do it elsewhere. There are a few things we must look into, those involved in research and academia need to help us understand what was infused into Soweto that transformed Soweto into a booming real estate market when it was not. We have got to upsize this cake”.
Taking action to progress this agenda, the PPRA has announced the launch of the Property Sector Research Centre (PSRC) at its first conference in partnership with the National Research Foundation (NRF).
The conference was billed as an opportunity for representatives in the property sector to understand the mandate of the Property Sector Research Centre and analyse the state of affairs of the sector through dialogue and exchange of ideas regarding various relational, transformative, business, digital and technical acumens in the property sector.
The conference was opened by Dr Sepo Hachigonta, Director: Strategic Partnerships at the NRF. For many it was a first opportunity to meet Ms Thato Ramaili after she recently took on the role of Acting Chief Executive at the PPRA. Hosted on Wednesday, the first of March at the NRF offices in Pretoria, Ms Ramaili announced the launch of the PSRC, and outlined the state of the property sector.
Several speakers participated:
Prof Jeffrey Macachi, Head of School: Civil Engineering & The Built Environment, University of Johannesburg looked at the role of research and innovation in advancing the property sector.
Dr Jan Tladi, Technical Lead Analyst at the PPRA gave an overview of the PPA towards economic growth, development, consumer protection and regulation in the sector.
Ms Portia Tau Sekati, CEO of the Property Charter Council discussed the importance of transformation and inclusivity – understanding transformation of the property sector.
Ms Pam Snyman, Chairperson of the PPRA Board and Committee: Education, Professionalisation & Continuous Professional Development explored the foundation of organisational learning.
Ms Esteani Marx, Head of Real Estate at Lightstone shared insights on valuations and market intelligence.
Mr Thembinkosi Mosia, Chamber Manger: Real Estate and Related Services Chamber, Services SETA gave a research overview of real estate and Chamber related services.
The panel discussion broached the following topics:
- What are some opportunities, best practices, and gaps, in the property sector?
- How can research and partnerships bring about change and impact in the property industry (in terms of inclusivity, transformation, economic outlook etc).
- What role can the higher education sector play to support the property sector?
- How can the property sector be repositioned as a driver for entrepreneurship / business growth?
At the time of publishing this newsletter, the results of this first conference, and the initial goals of this new partnership have not been released, but the Property Professional has been assured that such will be published shortly. We will keep you posted on further developments.
