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10 July 2014
FROM THE EDITOR

Were it not for the fear of implied policy or legislative changes, many of which could affect the real estate sector, Adrian Goslett, CEO of RE/MAX of Southern Africa says that he believes the South African housing market would be further along in its state of recovery with a steeper upward trend. Read an article titled Property market - where are we now? for more.

According to Michael Bauer, managing director of IHPC estate agency, when applying for a bond, one would assume that the loan to value policies would be the same when applying for home finance at all the major banks, but there are some instances where one or two of the banks are more “sticky” than others. He explains further in an article titled Bond criteria and loan to value policies differ.

There's been cause for concern when it comes to the South African economy of late; the downgrading of its sovereign debt ratings by international ratings agencies, the impact of the Platinum strike, now followed by the Numsa strike, rumours of a possible recession - the list goes on. Thus Bruce Swain, MD of Leapfrog Property Group advises that Keep the Bigger Picture in Mind when it comes to Property. See the whole article below.

Today we look at a town that hadn't its current name won a competition that was run to name it; we would have known it as Fairydale, Ego or maybe Zuriel. Situated just about 14km Northwest of Johannesburg and approximately 57km from Pretoria with easily accessible main roads such as the N1, Jan Smuts avenue and Malibongwe Drive, Randburg is undoubtedly one of Gauteng's economical boom towns and to learn more about its origins, see the Focus On section of this Newsletter.

Enjoy!
The editor


Property of the Week

Ferndale, Randburg, Gauteng, South Africa
This majestic 700 sqm property offers you everything you would need in a home

News

Property market - where are we now?
Since the beginning of 2013 we have seen the property market transition from a strong buyer’s market into a slightly more balanced market that is slowly starting to tip in the seller’s favour...

Foreigners buying more SA real estate
Foreign buyers purchased almost R6,5bn worth of property in SA last year – and not all of it in Cape Town or Johannesburg...

Arrests made over real estate fraud
Three people have been arrested and charged in connection with the attempted fraudulent sale of a home in Western Australia...

How affordability levels affect the market
According to statistics from the South African Savings Institute, household savings in relation to GDP is at just 1.7%, indicating that South African consumers have a poor saving culture...

Bond criteria and loan to value policies differ
When applying for a bond, one would assume that the loan to value policies would be the same when applying for home finance at all the major banks, but there are some instances where one or two of the banks are more “sticky” than others...


Keep the Bigger Picture in Mind when it comes to Property

There's been cause for concern when it comes to the South African economy of late; the downgrading of its sovereign debt ratings by international ratings agencies, the impact of the Platinum strike, now followed by the Numsa strike, rumours of a possible recession - the list goes on...


Check and recheck all details on sectional title deals

One would assume when purchasing a sectional title unit with a garage that when it came to selling that unit, all the paperwork would be in order and transfer would go through without a hitch, but in a case dealt with recently...


Be wary when investing - Residential Market and Office/Industrial sector are two different ball games
People who have done well developing and investing in the residential market should be wary when trying to emulate this in the office or industrial sector as a different set of tactics are generally required to make commercial buildings work...

Safe as houses
South Africa is possibly one of the most beautiful countries in the world, with a number of amazing things on offer such as great weather, oceans, mountains, forests and everything in between. As a nation we are truly blessed to call this country our home...

The importance of Waterproofing
A “hot" topic in Cape Town during the winter months is the dreadful weather. It has already been a very windy and wet one so far. With this comes lots of damage to property. That is what has inspired the very first Carryn’s Corner contribution...

Damp in sectional title schemes, what to do?

What happens in cases of older sectional title developments, where units are found to have severe damp and the unit’s structure could be undermined by the damp, an owner asks...


Free workshop for sectional title trustees - July

What happens in cases of older sectional title developments, where units are found to have severe damp and the unit’s structure could be undermined by the damp, an owner asks...






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Focus On

Randburg, Gauteng, South Africa
Welcome to Randburg; a town in a Gauteng Province that could have easily been known to us as Fairydale, Ego or Zuriel hadn't the current name won a competition that was run to name it...

>> View properties in Randburg

In The Area

The areas we are going to take a closer look at this week are;

  • Randburg
  • Sinoville
  • Bardale Village
Randburg's renewal initiatives augur well for commercial property
Strategically well positioned to the north-west of Johannesburg, just 10 minutes from Sandton and easily accessible via main arterials such as the N1, Bram Fischer Drive, the M20, M9, M16, M5 and William Nicol Drive, Randburg is considered a priority area and important commercial node...

Interest rate hike impacts Sinoville home market
The increase in interest rates earlier this year made a quick impact on the property market in Sinoville and surrounds to the north of Pretoria, boosting the number of urgent sales as an increased number of homeowners hurried to downsize...

Work starts on primary school at Bardale Village
The Department of Education has begun civil works on the site for a second school at Bardale Village. This will be a primary school that will accommodate ±500 children and it is sited right next to the newly built high school, which will have an intake of 800 to 900 learners from January 2015...



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To the Editor

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"This is not advice. Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that formal advice be sought before acting in any of these areas."

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