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Property News - 20 November 2014

FROM THE EDITOR

Today, thanks to lower demand for private sector credit,a sharp drop in oil prices that drove the inflation rate down to 5,9% at the end of October and weak economic growth, the Monetary Policy Committee had decided once again to leave interest rates unchanged. As a result, the repayment on a 20-year home loan of R763 543 – which is the current national average approved bond amount - will remain at R6993 per month, according to SA’s leading mortgage origination group BetterBond Home Loans, while the repayment on the average home loan of R645 007 that is currently being approved for first-time buyers will stay at R5907 per month. For more of this interesting News, read an article titled Another reprieve for consumers.

According to the International Monetary Fund (IMF), the global economy could remain trapped on a new 'mediocre' growth path in 2015, yet within that, there are likely to be pockets of vibrant growth, particularly in Asia and Sub-Saharan Africa, as the pace of recovery becomes increasingly country specific. Read an article titled Global economic update on the property market for more of this story.

“Access to housing is like a ladder. If any rung is broken, it becomes impossible to traverse up and down. It is critically important to think about housing holistically and it is very encouraging to hear Ministers Nhlanhla Nene and Lindiwe Sisulu do just that”. These are the words of Soula Proxenos, Managing Director at International Housing Solutions following the Government’s recent pronouncements on the provision of housing. See an article titled Government housing rethink opens door to sustainable solutions for more.

We then take a closer look at Randfontein; a town that – similarly to Johannesburg and other Gauteng‘s well established towns - owes its origins to the Witwatersrand Gold Rush in the late 1800's. Scroll down to the Focus On section of this Newsletter to learn more.

Enjoy!
The editor

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Property for sale in Featherbrooke Estate

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In the News this week

Global economic update on the property market

Global economic update

Looking at the international scenario while the global economic recovery remains on track, it is both fragile and uneven. Among the advanced economies, the US and UK recoveries are gathering momentum...
Global economic update


Another reprieve for consumers

interest rates unchanged

New Reserve Bank Governor Lesetja Kganyago announced today that thanks to lower demand for private sector credit,a sharp drop in oil prices that drove the inflation rate down to 5,9% at the end of October and weak economic growth, the Monetary Policy Committee had decided once again to leave interest rates unchanged...
interest rates unchanged


Stable repo rate a confidence booster for housing market

Stable repo rate

With the residential property market driven mainly by sentiment, today’s decision by the Monetary Policy Committee to keep the repo rate unchanged augurs well for further confidence among home buyers...
Stable repo rate


Government housing rethink opens door to sustainable solutions

Government housing

The South African Government’s recent pronouncements on the provision of housing are welcome signs of it moving in the direction of real and sustainable long-term solutions to the problem...
Government housing


Retailers Reconsider Real Estate

retailers' real estate portfolios

The rise of e-commerce and online sales in many cases is rendering portions of retailers' real estate portfolios unnecessary, which may contribute to an influx of retail bankruptcy filings as companies look to break out of their leases...
retailers' real estate portfolios


Value investing is dead. Long live value investing

Value investing
Astute investors would have noticed a marked under-performance by some of South Africa's high profile value funds over the last few years. A handful that were once high fliers have lost a great deal of their lustre since 2009...
Value investing

Very low growth in home loans calls for skilled bond origination input

Very low growth in home loans

Bond originators will have to become more skilled and more effective in the coming year if they are to be successful in keeping the flow of mortgage loans to the public at a reasonably satisfactory level...
Very low growth in home loans


Time travelling to 2024

A Time Travellers Guide to Our Next 10 Years

South Africa is facing rising unemployment, fragmentation of the ruling party and dissension in the population. Some would say that SA’s is on the verge of demise, while others argue it will weather the current storm and emerge stronger...
A Time Travellers Guide to Our Next 10 Years


RE/MAX cashes in on illegal Israeli settlements

illegal Israeli settlements
The Israeli government’s recent announcement that it had authorized the building of another 1,000 settlement homes in East Jerusalem left the US government seeing red...
illegal Israeli settlements

The economic cost of extreme weather

Extreme weather events

Extreme weather events have increased by a whopping 141% in average annual numbers per decade since 1980, according to Standard & Poor’s (S&P). This presents considerable opportunity for the insurance industry, the ratings agency points out, but also growing concern for governments of underinsured economies...
Extreme weather events





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Focus On


Randfontein, Gauteng , South Africa

Property for sale in Randfontein
Welcome to Randfontein; a town that – similarly to Johannesburg and other Gauteng‘s well established towns - owes its origins to the Witwatersrand Gold Rush in the late 1800's. It was in 1890 when this mining town was formally established...
Property for sale in Randfontein

View properties in Randfontein

In The Area

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

  • Featherbrooke Estate
  • Cape Town

Featherbrooke Estate and its surrounding areas are now highly sought after

Featherbrooke Estate
Despite very serious stock shortages, the last few months have seen a further rise in home sales at Featherbrooke, the residential precinct that lies some 40 to 50 km west of Johannesburg’s CBD...
Featherbrooke Estate

Stock shortage sale means Cape Town’s Southern Suburbs is a sellers’ market

Residential property in Cape Town

A shortage of quality stock in the Southern Suburbs of Cape Town has turned the entire area into a sellers’ market with the only properties not selling within a month or two of being listed typically being overvalued or over-priced...
Residential property in Cape Town

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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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