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22 May 2014
FROM THE EDITOR

Today, Gill Marcus, Reserve Bank Governor has once again become South Africa's most popular person after she had announced at the third Monetary Policy Committee meeting of the year that the prime interest rate would remain at its current 9%. For a full story, read two articles titled, Steady repo rate good news for property market and Comment on interest rate announcement.

It is also reported that many people believe that the latest predictions from Absa (and others) that consumer price inflation in South Africa is likely now to run above 6% for the rest of the year is bad news for the residential property market but Bill Rawson, Chairman of the Rawson Property Group says this is not the case. To find out where he is coming from, read an article titled South African home price rises likely to continue to be on a par with or even ahead of inflation.

According to Laurie Wener, Pam Golding Properties' MD for the Western Cape region, a number of buyers are choosing to move out of substantial family homes on large plots, and into more manageable apartments or townhouses, even before their younger children have finished school. For more of this story, read an article titled Down-scaling trending younger.

We have some sound advice on how to treat your wood finishes. Whether in your current property or in a new one which you are so excited about. Read Treating your wood with love for interesting tips.

We then take a look at Boksburg, another town in the Gauteng Province that owes its origins to the discovery of gold in the Witwatersrand. For more about this historical town, see the Focus On section of this Newsletter.

Enjoy!
The editor


Property of the Week

Atlasville, Boksburg, Gauteng, South Africa
Double Storey Family Home 

News

Steady repo rate good news for property market
Today’s decision by the Monetary Policy Committee to keep the repo rate steady is good news for the residential property market...

Comment on interest rate announcement
Consumers are able to enjoy the current interest rate for a while longer, as Reserve Bank Governor, Gill Marcus, announced today at the third Monetary Policy Committee meeting of the year that the prime interest rate would remain at its current 9%...


South African home price rises likely to continue to be on a par with or even ahead of inflation
Many people apparently believe that the latest predictions from Absa (and others) that consumer price inflation in South Africa is likely now to run above 6% for the rest of the year is bad news for the residential property market...

Is Chinese Investment In South Africa Shifting From Mining To Property?
In the past year there’s been a big shift in Chinese investment in South Africa from mining to property...


Mansion market regains its legs

Foreign property buyers continue to enter the top-end residential property market in South Africa, with the last six months seeing an uptick in purchases of Gauteng and coastal properties...


Down-scaling trending younger
While traditionally the concept of down-scaling one’s home has either been linked to financial challenges or to a change in phase of life – moving into a smaller home after children have left the nest – this is no longer necessarily the case...

Difficult for entrepreneurs to get bonds
In schools today, entrepreneurship is being taught and many parents encourage their children to start something of their own instead of applying for a job within a company. The problem, however, when it comes to buying a home...

Borrowers still prefer personal service
In the age of high-tech everything - including online loan applications – it’s interesting to note that most homebuyers and sellers still depend on estate agents, home loan consultants and conveyancers to guide them through the actual purchase process...

Property keeps storming ahead
If there was ever any doubt about the SA property market being on an upward path, it should be dispelled by the latest figures from Sotheby’s International Realty...

Downscaling market bubble
Those people who were looking to downscale when they retired around the time of the 2008 slump, but then had no immediate pressure to sell their properties at a “perceived discount” and very often had financial advisors telling them not to sell unless...

The new way to invest in property - Buy-to-let

It is a countrywide phenomena that rental properties are becoming increasingly more expensive for tenants. This situation could result in tenants deciding rather to become proud owners of possibly their first property...


Sell in winter or not
Many sellers of property debate whether to wait for winter to pass before putting their homes on the market or want to take their properties off the market and wait for Spring but this is not advised...

How to select the ideal agent
There is no doubt that the services of a professional real estate agent from a reputable brand can be an invaluable asset to any homeowner in today’s market who wants to sell their property for the best possible price in a timely manner...

Treating your wood with love
We have some sound advice on how to treat your wood finishes. Whether in your current property or in a new one which you are so excited about...

Should I carry on renting or buy a home?
Although the property market has seen many more buyers stepping onto the first rung of the homeownership ladder over the last few years, many are still reluctant to take the plunge towards purchasing property...

What to do about incompetent trustees
In many sectional title schemes, the difficulties encountered by bodies corporate and/or a lack of administrative experience can result in their becoming negligent...









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Focus On

Boksburg, Gauteng, South Africa
Welcome to Boksburg, another town in the Gauteng Province of South Africa that owes its origins to the discovery of gold in the Witwatersrand...

>> View properties in Boksburg

In The Area

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

  • Boksburg
  • Benoni
  • Grahamstown
New buoyancy in Boksburg's luxury sector
The market for luxury homes in Boksburg is now picking up steam and shaking off the lethargy brought about by the recession...

Benoni property market on the march
The property market in Benoni on the East Rand has taken off and homes offered at market-related prices are now selling within days of listing...

Grahamstown High Court decision a boon for local property
Homeowners and property investors in Grahamstown have widely welcomed the recent official decision that the seat of the Eastern Cape High Court will remain in the town...

News Continue

Invalid trustee consent
When it comes to decision making and consent levels in sectional title schemes, there are many cases where consent or permission was granted but on checking up on this, it was not valid...

My Green Home family take on No.1 challenge: Hot Water
The Ngewana family tackle their electricity-hungry geyser use from all sides. The family that is changing their home to help change the world has taken a multi-pronged approach to cutting their water-heating costs...

Trustees should not hand over responsibility of their scheme to MA
Referring to reports of another managing agent in Gauteng going under and approximately 60 sectional title schemes that were managed by this agency losing funds that were sitting with them...

 

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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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