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Property News - 19 September 2014

FROM THE EDITOR

Before announcing that she will not be renewing her contract when it expires in November this year - 2014 - Ms Gill Marcus informed the nation that the monetary policy committee (MPC) has decided to leave the interest rates as is at 9.25%. This news came after a three-day long meeting that ended on Thursday, the 18th of September and South African Real Estate experts, as always shared their views on this move.

CEO of RE/MAX of Southern Africa, Adrian Goslett, said that although the Reserve Bank has reiterated on numerous occasions that the domestic interest rate cycle is currently following a gradual upward trajectory, the fall in consumer price index (CPI) since the July meeting has eased some pressure on the bank to hike rates. Read an article titled Comment on interest rate announcement to learn more.

Amongst the Property market experts that commented is chief executive of the Pam Golding Property group, Dr Andrew Golding who was quoted as saying, "against a backdrop of sluggish economic growth, subdued income growth, rising municipal rates and utilities tariffs, and slightly higher CPI inflation which increased to 6.4 percent in August (2014) from 6.3 percent in July, yesterday’s decision by the Monetary Policy Committee to keep the repo rate stable is good news, particularly for mortgage-dependent homeowners and aspirant home buyers requiring access to finance". To continue reading this piece, see an article titled Stable repo rate good news as housing market gathers momentum.

We then take a closer look at Witbank, South Africa's leading coal mining district in the province of Mpumalanga. To learn more about this heavy industrial town that was founded around 1890, have a look at a Focus On section of this newsletter.

Enjoy!
The editor

SAPTG Reports

Property of the Week

Quintessential style and luxury

Die Heuwel , Witbank, Mpumalanga
 Quintessential style and luxury

In the News this week

Comment on interest rate announcement

monetary policy committee (MPC)

Following the increase of 25 basis points at the previous meeting held in July, the monetary policy committee (MPC) announced today that the prime interest rate will remain unchanged at its current level of 9.25%...
interest rate announcement


Stable repo rate good news as housing market gathers momentum

Accommodation for South African Miners
Against a backdrop of sluggish economic growth, subdued income growth, rising municipal rates and utilities tariffs, and slightly higher CPI inflation which increased to 6.4 percent in August (2014) from 6.3 percent in July, today’s decision by the Monetary Policy Committee to keep the repo rate stable is good news...
Stable repo rate

New affordable housing fund available to developers

New affordable housing fund

Global private equity investor, International Housing Solutions, is set to pump more than R1.6 billion into funding the development of affordable homes in sub-Saharan Africa...
funding the development of affordable homes in sub-Saharan


Capital Gains Tax for individuals

Tax for individuals

There are many different Capital Gains Tax theories and opinions, but actually when this tax is analysed, it is not so daunting or complicated...
Capital Gains Tax theories and opinions


Do 40 000 whites own 80% of South Africa?

Land ownership is SA
Land ownership in SA remains heavily skewed across racial lines 20 years after apartheid. But is 80% of it in the hands of 40 000 white families...
Arguments on land ownership in SA

Electricity tariffs may increase by 12.69% in 2015/16

Electricity tariffs

The electricity sub-committee of the National Energy Regulator (Nersa) on Wednesday recommended that R7.8 billion of revenue Eskom under-recovered in the previous tariff period all be added to electricity tariffs in the next financial year...
Electricity tariffs may increase


State may sell stake to back Eskom

Telkom falls on speculation

Telkom SA SOC Ltd., Africa’s largest fixed-line operator, fell for the biggest two-day decline in two years on speculation South Africa may sell some of its 40 percent stake to support Eskom Holdings SOC Ltd...
state may sell stake to back Eskom


Positive outlook for facilities management

facilities management

Facilities management is rapidly emerging as an important factor which can play a major role in boosting the income stream of property assets, and so the outlook and potential for this sector of the property industry is positive...
facilities management


Home-buying homework for millennials

Home-buying homework
Millennials all over the world have been much slower to enter the property market than their parents or grandparents were, but that doesn’t mean they don’t want to be homeowners...
Home-buying homework

No maintenance, no home loan

No Home loan for Maintenance defaulters
Maintenance defaulters are shortly going to find it much more difficult, if not impossible, to buy property, thanks to proposed amendments to the National Credit Act (NCA) regulations...
no home loan for maintenance defaulters

Retirement has just become more affordable

News on Retirement

If you think you can’t afford to retire, it’s time to think again. JSE AltX listed property company, Visual International, is launching a new lifestyle retirement concept for over-50s in South Africa’s middle-income group...Retirement has just become more affordable




Oliver's House fundraising campaign


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Focus On


Witbank, Mpumalanga, South Africa

Property for sale in Witbank
Welcome to Witbank, South Africa's leading coal mining district in the province of Mpumalanga. This heavy industrial town was founded around 1890...
Property for sale in Witbank

View properties in Witbank

In The Area

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

  • Krugersdorp
  • Witbank

Great value in Krugersdorp first time home-buyers

Real Estate in Krugersdorp
With the spectacular Cradlestone Mall in Krugersdorp in the news as this year’s winner of the SA Council of Shopping Centre’s Best Retail Development award, the West Rand town is also rapidly renown as a great place for first-time homebuyers...
Property for Sale in Krugersdorp

Witbank property market is white hot

Real estate Market in Witbank, South Africa
New entrants to the property market in Witbank are boosting home sales with many millions worth of transactions per month now being recorded in the booming Mpumalanga mining town...
Witbank property market is white hot



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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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