Weekly Property News
02 March 2012

Dear Reader

It seems that there is a long and winding road ahead for Julius Malema. Don’t we in the real estate industry know too well about this road?

The real estate industry has reasons this week to be excited as it seems that South Africa’s economic growth is improving;

The number of liquidations in January decreased by 36.1% year-on-year, Statistics South Africa (Stats SA) reported on Monday. It attributed the decline to a 48.1% decrease in the number of voluntary liquidations. Liquidations down 36% in January – Stats SA

"The seasonally adjusted real GDP at market prices for the fourth quarter of 2011 increased an annualised rate of 3.2% compared with an increase of 1.7% revised from an increase of 1.4% during the third quarter of 2011," Stats SA's executive manager of national accounts, Gerhardt Bouwer, said on Tuesday. The 3.2% was slightly better than the market expectation of a 3.1% quarter-on-quarter increase. South Africa: GDP rises to 3.2% in 2011 fourth quarter

In the news this week the Auction Alliance scandal;

  • Four banks, Investec, FNB, ABSA and Nedbank stopped trading with Auction Alliance
  • CEO Rael Levitt will step down with immediate effect, the company announced on Monday
  • Levitt has denied all the allegations
  • He stood by the company's belief that "ghost bidding" is 100% lawful" to protect reserve prices

Headlines: "We've temporarily suspended giving work to Auction Alliance and are reassessing our relationship with them," Ciaran Whelan, global head of risk at Investec, told The Star newspaper. Banks dump Auction Alliance

Market news: The FNB house price index showed a further slight acceleration in February, increasing 6.6 percent in nominal terms on an annualised basis, from the revised 6.1 percent in January. This is the highest year-on-year growth since July 2010, the bank said on Thursday in its monthly house price index report. Real home prices up slightly

The editor

In This Issue

Hazyview , Mpumalanga
Notes: Massive 4 bedroom home plus 2 bedroom cottage plus 3 furnished chalets. Set on 26ha with excellent security. No land claims...

CyberProp Property Count: 02/03/2012

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Properties for Sale: 129,174
Properties to Rent: 9,891

Local News

Liquidations down 36% in January – Stats SA

The number of liquidations in January decreased by 36.1% year-on-year, Statistics South Africa (Stats SA) reported on Monday...

South Africa: GDP rises to 3.2% in 2011 fourth quarter

The country's real Gross Domestic Product (GDP) in the fourth quarter of 2011 rose to 3.2%, says Statistics South Africa (Stats SA)...

Real home prices up slightly

The FNB house price index showed a further slight acceleration in February, increasing 6.6 percent in nominal terms on an annualised basis, from the revised 6.1 percent in January...

Minister dissects government’s land-reform target

Briefing follows President Jacob Zuma’s state of the nation address last month during which he said the pace of land redistribution was "slow and tedious"

Christie's sees BRIC countries as a platform for its future growth

BRIC countries have been identified as one of the world arenas of future growth for US$100-billion sales a year Christie’s International Real Estate – the London-based global luxury property arm of the world’s largest and oldest fine art auction house...

Standard Bank dropping late bond cancellation charges

One of South Africa’s big four banks, Standard Bank, has decided to refund the clients “extra” fees (“notice interest”) previously charged if they cancelled their bonds without giving three months notice – provided that they apply for a new bond with the same bank within six months of the cancellation...

Estate agents should have homes they sell inspected: iLIVE

The real estate industry is being caught up in the perfect storm with the pending fraud case against prominent agent Wendy Machanik, and now the Auction Alliance scandal...

Banks dump Auction Alliance

Two banks have stopped trading with Auction Alliance, which has been accused of paying kickbacks for preferential treatment, it was reported on Wednesday...

Comment on auction practices

The countrywide publicity given to alleged unethical practices by a leading SA auctioneering group have had the unfortunate result of creating the impression that such practices are widespread in the auction world – but this is very far from being the case, says Tanya Jovanovski, principal of Rawson Auctions Western Cape franchise...

Comment on Housing Fund from Leapfrog Property Group

Property ownership has been, and continues to be a vital aspect of life in South Africa – especially for the lower income groups...

Consider the option to buy option

There are several good reasons to pay a deposit when you buy a home, among them the fact that you will have a smaller bond repayment to make each month and that you will save a mint in interest over the life of your home loan...

Foreigners find it difficult to qualify for bonds

Foreigners, some of whom have high level qualifications and skills and who could, therefore, be very useful to South Africa, face an uphill battle when it comes to qualifying for South African residency permits and South African bonds on homes, says Rob Lawrence, national manager of the bond origination service, Rawson Finance...

Retirees urged not to delay downscaling

The primary factors driving the housing market do not fall away when economic conditions become tough, says Lanice Steward, managing director of the estate agency, Anne Porter Knight Frank...

Affordable housing study highlights benefits

The primary social benefit of this sector of the housing market cannot be denied but there is a bigger, indirect, benefit that affordable housing and construction provides...

Protecting your home

Although South Africans are among the most security conscious people in the world, it is always good to brush up on some basic safety rules and tips to make sure your home and its occupants are protected at all times, says Adrian Goslett, CEO of RE/MAX of Southern Africa...

Property upgrades lead to safer neighbourhood

An urban upgrade project in Harare has made the area safer, say Khayelitsha residents...

Court case reemphasises trust beneficiary rights

It is in South Africa a common practice for those leaving property to their heirs to do so by means of a trust. Such trusts have to have trustees, nominated by the benefactor, who should adhere to the deceased’s wishes after his death...

Competition time

Howzit MSN celebrates new look property section with a whopping R20 000 cash give away

Howzit MSN, one of South Africa’s largest portals, has revamped its property section in partnership with CyberProp, and to celebrate it is giving away R20, 000 in cash to one lucky winner. The slick and improved property section adds international property listings, a range of powerful tools such as bond repayment and exchange rate calculators, and excellent data and statistics for buyers and sellers...

Focus On

Hazyview, Mpumalanga, South Africa

In the heart of the Lowveld, a a few kilometres outside the Kruger Nationl Park and close to scenic wonders like God's Window and Blyde River Canyon, Hazyview is perfectly positioned for exploring this enchanting region...

>> Properties in Hazyview
>> Properties in Mpumalanga

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Enter City/Suburb:

In the Area

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

  • Edgemead
  • Brits
In the area 1 - Edgemead

Reasonably priced, centrally located properties in Cape Town can be hard to find. Especially if you’re looking for a home with easy access to the city’s major arteries, shopping centres, hospitals and schools that won’t break the bank...

In the area 2 - Brits

There are simply no municipal services such as water and electricity supply available for any new property developments in Brits, and this is putting upward pressure on rentals in the North West town, and boosting sales of cheaper properties...

To the editor

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

Local news continue

What you need to know when buying into a sectional title scheme

Sectional title property ownership is increasingly popular and today there are over 50 000 schemes, totalling more than 800 000 individual units in South Africa...

Dealing with troublesome ST tenants

One of the thorniest issues in sectional title (ST) schemes is what to do about tenants who regularly flout the conduct rules and make things unpleasant for other residents...

Sectional title critical for duet owners

In recent years, duet homes have become particularly popular in Pretoria, Centurion and Bloemfontein, where buyers have come to appreciate the cost savings and additional security to be had by building two homes on one stand...

Avoid the ultra high wall security look

Cape Town’s leafy suburbs, often described as the most attractive of any major city in South Africa, are under threat, says Lanice Steward, MD of the Cape Peninsula estate agency, Anne Porter Knight Frank...

Realtors international repositions for the future

Having been in the business of property for more than three decades, the team behind Cape Town-based Realtors International has seen numerous peaks and troughs over the years...

Azure on the Bay sales rise

Apartment units totalling R10 715 000 were sold by Asrin Property Developers’ mandated agents, Seeff, Blouberg at Asrin’s Azure on the Bay waterfront development in Big Bay in the first 30 days of this year. This, says Asrin’s Commercial Director, Shiraaz Hassan, means that the final closed deal figure for sales at the end January was in the region of R23 million...

GBCSA Upcoming Courses - March and April 2012

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