Weekly Property News
01 June 2012
FROM THE EDITOR

Dear Reader

South Africa's economy grew at a slower rate in the first quarter of 2012, but not as slowly as analysts had forecast Finance real estate and business services grew 4.1% q/q, and contributed 0.9pps, while wholesale, retail and motor trade grew 3.0% and added 0.4pps particularly due to increases in the turnover in the wholesale and motor divisions.

The CCI, a measure of trends in consumer credit health, has declined to a level of 50.7 for the second quarter of 2012 from a revised 54.3 for the first quarter of the year, as it reasserted a downward trend that began at the end of 2010.Should the index dip below 50 points it would indicate consumer health has begun to deteriorate.

Do you base your property purchase on factors like these? Are you one of those that think it through and plan? Or, are you one of those emotional buyers that just do it? You might even have a different view. Mail us at news@cyberprop.com and let us know what kind of property buyer you are.

Headlines: The most recent Absa House Price Index indicates that nominal house prices have now been contracting for three months year on year. The latest figure shows a decline of 5% since April 2011. As a result, house prices are in real terms moving closer to their long-run trendline, aided by high building-cost inflation (which is now much higher than consumer inflation). Lucky South Africa, your bubble is deflating; not bursting! South Africa's market could have been in a much worse state

FNB said on Friday that its property index had shown strengthening demand for the fourth consecutive month. The FNB Valuers Residential Market Index rated demand for property at 46.1 in April, up from the previous month's 45.8. The strengthening resulted from a rise in residential demand, rated at 50.5. It was the first time this value had risen above 50 since December 2008. This implied that market demand was "strong" rather than "weak" on a scale from one to 100, the bank said in a statement. Property demand rising - FNB

Market news: Latest statistics from Knowledge Factory's Top performing Suburbs provides some interesting results. A look at the top 3 performers, Protea Glen in Soweto (Gauteng), Midstream Estate in Centurion (Gauteng) and Parklands in Milnerton, Cape Town (Western Cape) is revealing.

Being at the top of the pile nationally in terms of sales means these suburbs have the real-estate "x-factor", that elusive character that keeps property professionals coming in their droves for a piece of the action and house-hunters submitting their mortgage bond applications. Economics or Emotion - which is the bigger 'E'?

Enjoy!
The editor

In This Issue

St Lucia, KwaZulu-Natal, South Africa
A comfortable family home!
The house has been tastefully renovated in quality finishings that feature new marble top kitchen cupboards...


CyberProp Property Count: 01/06/2012

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Properties for Sale: 124,857
Properties to Rent: 10,323

Local News

Economics or Emotion - which is the bigger 'E'?

Latest statistics from Knowledge Factory's Top performing Suburbs provides some interesting results. A look at the top 3 performers, Protea Glen in Soweto (Gauteng), Midstream Estate in Centurion (Gauteng) and Parklands in Milnerton, Cape Town (Western Cape) is revealing...


South Africa's market could have been in a much worse state

The most recent Absa House Price Index indicates that nominal house prices have now been contracting for three months year on year...


Property demand rising - FNB

FNB said on Friday that its property index had shown strengthening demand for the fourth consecutive month...


A generation to recover?

The most recent Absa House Price Index indicates that nominal house prices have now been contracting for three months year on year. The latest figure shows a decline of five percent since April 2011...


Basel 3 could hurt SA's growth, warns Bank official

Daniel Mminele, deputy governor of the Reserve Bank, says new liquidity requirements may result in South African banks reducing their lending...


Joburg property rates set to rise by 11% in July

The City of Joburg plans to bill its customers 11 percent more while expecting that more customers will default on bills...


Court rules in Estate Agency board's favour on Auction Alliance

Auction Alliance suffered a setback in its attempts to prevent the Estate Agency Affairs Board from interrogating its financial and other records on Monday...


Decision to hold repo rate at 5,5% good news

The SA Monetary Policy Committee's decision to hold the repo rate at its current low 5,5% level (where is has now been kept for about a year and a half) is once again good news for the SA residential sector, says Bill Rawson, chairman of Rawson Properties...


Second bonds or partnerships help to buy property

With bonds no longer as readily obtainable as they were in the boom days, when every secretary and housewife became a property investor, South Africans, says Lanice Steward, Managing Director of the Cape estate agency Anne Porter Knight Frank, are learning new ways of raising finance for property purchases...


>> Sales in R3 to R8 million bracket steady

Those trend commentators who week after week try to talk the property market up with optimistic forecasts are doing the entire property sector a disservice, says Anton du Plessis, CEO of the Cape Peninsula southern suburbs estate agency, Vineyard Estates...


When a property doesn't sell

The South African property market today is a far cry from its 2007/8 heyday. Prices have come down significantly, homes are often on the market for longer and buyers are far pickier due to the increased selection they have to choose from...


Ways to win when you buy off-plan

With the number of existing homes for sale in the affordable price range diminishing, new developments are starting to regain popularity, especially with first-time buyers...


Shrewd investors "work" the market

Time and again, says Jason Lee, national head of Rawson Commercial, he is asked whether or not an investor should sell a property or hold onto it in perpetuity...


Don't neglect your insureance, ST owners advised

Insurance is an extremely important matter for Sectional Title bodies corporate, owners and trustees, but is all too often played down or left off the annual general meeting (AGM) agenda altogether...


Do not skimp on home insurance

It is, says Lanice Steward, Managing Director of the Cape Peninsula estate agency Anne Porter Knight Frank, quite extraordinary how casual homeowners can be about insuring their properties. When disaster does strike, this sort of person invariably finds themselves in trouble...


Levy defaulters cannot avoid due process of the law

Throughout the South African sectional title sector, failure to pay levies is a growing problem, says Anelisa Keke of Gunston Attorneys...

Focus On

St Lucia, KwaZulu Natal, South Africa

St Lucia acts as a base to explore a surrounding countryside like no other in the country.

The wetlands, swamps, mangroves and lagoons making up the town's environment attract many eco-tourists and nature lovers...

>> Properties in St Lucia
>> Properties in KwaZulu Natal


Search For Properties

1. Western Cape
2. Garden Route
3. Northern Cape
4. Eastern Cape
5. KwaZulu Natal
6. Free State
7. North West
8. Gauteng
9. Mpumalanga
10. Limpopo

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Enter City/Suburb:

In the Area

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

  • Centurion
  • Pinelands
  • Paarl
In the area 1 - Centurion

Africa's tallest for Centurion

More than half of the Tshwane municipality's R20 billion budget will go towards infrastructure development and maintenance, Mayor Kgosientso Ramokgopa announced on Wednesday...


In the area 2 - Pinelands

In 2003 the median price of residential property in the Cape Town suburb of Pinelands was R700,000. Today it is R1,750,000.

That, says Anne Porter Knight Frank agent David Sims, who serves the area, should tell trend-watchers much about property values in this precinct...


In the area 3 - Paarl

Invest in Tomorrow's Luxuries at Yesterdays Prices!

Situated at the foothills of four of the Western Cape's most beautiful Mountain ranges with 360° views, this unique Retirement Resort development offers the tranquillity and lifestyle of the Platteland within close proximity of not only Paarl, but also Cape Town...


To the editor

Share your comments with us by sending it to news@cyberprop.com


Local news continue

Misinterpretation of CP Act

Opinions as to how the Consumer Protection Act will affect the relationships between home sellers and buyers, home sellers and their estate agents and even agents and buyers have recently been bandied about in the media and estate agency promotional literature - and there are still many varying interpretations...


Sky and roof lights are star exhibits at new cape town building

If there is one characteristic that separates modern South African homes from those of our parents and grandparents it is, says Cheryl Neave, public relations manager of the new, relocated Building Centre (now at Northgate Estate) the tendency in today's designs to encourage light penetration of the interiors...


Engel & Volkers wins award for most valued property brand

Hamburg, 24 May 2012. Engel & Völkers, the globally operational service company specialised in the brokerage of prestigious residential property, high-end commercial real estate and luxury yachts, has been named as Germany's most valuable property brand in the category "Property broker"...


GBCSA launch SA guide to Green Leases - positive step to efficient operation of buildings

The Green Lease - positive step to efficient operation of buildings
In an exciting development, the Green Building Council of South Africa (GBCSA) announced that the Green Lease Toolkit, which they co-developed with the South African Property Owners' Association (SAPOA), was officially launched at the 44th SAPOA International Convention & Property Exhibition, in Durban on the 30th of May 2012...


Transfer of administration to Human Settlements dept

Tony Clarke, managing director of the national property group, Rawson Properties, has raised a red flag of "concern" regarding the recent proclamation by SA President, Jacob Zuma. This transfers the "administration powers and functions" of the Estate Agency Affairs Act from the Minister of Trade and Industry to the Minister of Human Settlements with immediate effect...

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