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12 June 2014
FROM THE EDITOR

Middle income areas represented by an average property value of R1.27 million recorded growth of 6.7% and lower-middle income areas with an average property value of R811 348 grew by 6.1%. This is according to FNB's latest property barometer. The report also states that South Africa’s growing middle class segment continues to create a robust demand for affordable housing solutions. Read an article titled Affordable property booms on stock shortages for a full story.

In concurrence with the FNB's report, CEO of Engel & Völkers Southern Africa, Craig Hutchison says that there is indeed a shortage of properties in primary residential areas. He says sometimes homes which were listed previously, are being withdrawn from the market by the seller based on the belief that if they wait for another few months or a year, they will get a better price. For more of this report, see Current market overview below.

Org Geldenhuys, managing director of property development and management company, Abacus DIVISIONS is leaning towards the optimists' side of life. According to him, while the office park industry is still trying to claw its way to a better performance level, there are still “pockets of health” where the market is reinvigorating itself and showing some stalwart results. Read more of this article in Pockets of excellence in the office park market.

As investors seek to access the Africa's growth prospects, French cement maker, Lafarge, is merging its South African and Nigerians units to create a USD 1.25 billion builder to take advantage of rising construction opportunities across the continent. According to Olusegun Osunkeye, chairman of Lafarge WAPCO, the merger will provide access to growth in two of the largest economies on the continent. For a full story, read Africa's upbeat construction lifts property market.

Enjoy!
The editor


Property of the Week

Rustenburg, North West, South Africa
This double story home is situated in an Secure Complex

News

Affordable property booms on stock shortages

South Africa’s growing middle class segment continues to create a robust demand for affordable housing solutions, yet there seems to be a shortage of available stock...


Current market overview
There is indeed a shortage of properties in primary residential areas, and sometimes homes which were listed previously, are being withdrawn from the market by the seller...

Consumer alert FNB bond cancellation
Banks have become increasingly sticky in all the processes involved with bonds but now FNB have announced a further requirement...

Africa's upbeat construction lifts property market
Africa currently makes up less than 0.5% of commercial real estate investments, but international capital is beginning to move in as investors seek to access the continent's growth prospects...

Pockets of excellence in the office park market
While the office park industry is still trying to claw its way to a better performance level, there are still “pockets of health” where the market is reinvigorating itself and showing some stalwart results...

Women on an even playing field in the property game
These days, not only are single women buying their own homes to the tune of millions, but in many cases, a second or third investment property as well...


South Africa's top Property Journalists honoured by SAPOA

SAPOA sewed up the 2014 Property Journalism of the Year Awards yesterday at its 46th Annual International Convention and Property Exhibition in Cape Town, as the commercial property sector honoured...


New Credit Amnesty Act does not write off debts
Bond originators serving the South African residential property market have, in the last few weeks, had to deal with a small flood of enquiries regarding the new government Credit Amnesty Act...

Be sure of what the contract refers to or the conditions thereof
There are occasionally instances where a tenant wants to buy the property he is renting and asks that this option be written into the lease. This is usually done to ensure that he has first option if the time comes...

Can a buyer delay transfer without being penalised?
Buyers of homes in most cases would want the transfer to go through as soon as possible, but in some isolated incidents there are some people, who for various reasons use delaying tactics to delay the transfer process...

Signs that say you are ready to buy a home
Purchasing a home is an exciting time for any first-time buyer - it’s a milestone and step towards owning an asset that could change the owner’s financial well-being for the rest of their lives...

Property owners and tenants place a high priority on security
Increasingly, security is a key factor in regard to the management and marketability of commercial property as well as ensuring the preservation of property values - whether it relates to retail, office or industrial property...

SAPTG - Stats
Property Transfers by month for the last 12 months (2013-05-01 to 2014-04-30). Stats include SA's average, top city and suburb stats...

Webtickets and Whats On collaboration
Knight Frank, who are committed to promoting all aspects of Cape Town, whether food, wine, art or drama, and in a bid to add value to the services they already offer their clients, have announced that they have formed a partnership with Webtickets and What's on...
Eco-friendly storage facility launches in the Western Cape

Eco-friendly storage facility, GreenCube Self Storage, has just launched in Ottery in the Western Cape, and is set to paint the Cape green with its innovative approach to storage and the environment...


Engel & Völkers Potchefstroom building first green home in Lekwena Wildlife Estate
Over the past few years society has realised the need for green buildings and homes, but developers and residents alike did not know where to start, especially with the wide and sometimes confusing range of green technologies that are available nowadays...







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Focus On

Rustenburg, North West, South Africa
Welcome to Rustenburg; a pulsating historical town that lies comfortably at the foot of the Magalies mountain range in theNorth West Province of South Africa...

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In The Area

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

  • Fish Hoek
  • Cape Town
  • Knysna
  • Wellington
Large ultra-modern Fish Hoek home coming up for auction this month
One of Fish Hoek’s largest, most magnificent ultra-modern five storey complexes in Echo Road with a backdrop of Elsie’s Peak is to be auctioned by Rawson Auctions’ Western Cape franchise on Wednesday 25th June at 12 noon...

Cape Town's home prices now showing good future growth prospects
Most precincts which have become high demand areas in which the call for homes is far greater than the stock available to supply it –find that price rises can be guaranteed, especially when, as here, there is very little vacant land left for developments...

Sellers on top now in Cape Town
Chronic shortages of affordable family homes for sale in parts of Cape Town have turned the local property market firmly in favour of sellers...

Signage bylaws
Outdoor advertising and signage bylaws in Cape Town are often seen as overly strict says Annette Evans, regional general manager of the Institute of Estate Agents, Western Cape, but she reminds agents...

International property buyers return to Plett and Knysna
Buyers from overseas have returned to the popular destinations of Plettenberg Bay and Knysna on the Garden Route, says Ling Dobson, area principal for Pam Golding Properties...

Steady increase in the popularity of Wellington residential properties
The new popularity of Wellington homes is resulting in good monthly sales and, in the opinion of Tertius Joubert, the Rawson Property Group’s Wellington franchisee, it is leading to price rises of 7 to 10% per annum...


 

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Tivvit Property Count 12/06/14

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Properties for Sale: 92,143 
Properties to Rent:  8,754 


"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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