Weekly Property News
Friday, 02 July, 2010

Dear Reader

Eskom CEO Brian Dames said yesterday: "We agree in principle on all issues, but disagree on the amount of the wages and benefits increases. Really, what the trade unions are asking for we cannot afford." This makes an Eskom strike seem imminent the last week of the World Cup. Not only could power cuts harm manufacturing and mining companies in the world's top platinum and fourth-largest gold producer but with the eyes of the world on South Africa it could not be good for our country in total including the property market.

Headlines: Mortgage advances to the household sector increased by 3.4% year-on-year in May. The abovementioned trends in household credit extension as well as household mortgage advances indicate that conditions with regard to household finances are gradually improving, However, some further job losses occurred in the first quarter of 2010, while the ratio of household debt to disposable income remained relatively high at 78,4% in the quarter. Mortgage advances growth is forecast to gradually improve further towards the end of the year, but growth is still expected to remain in single digits this year. Mortgage advances growth edging higher

Market news: The June FNB House Price Index continued to show rising year-on-year growth to the tune of 12.6 percent. This is higher than May’s revised growth rate of 12.2 percent and is the seventh consecutive month of positive year-on-year growth. In real terms, adjusted for CPI inflation, this all translates into house price growth of 7.2 percent year-on-year for May. However, it must also be said that there are signs that the pace of acceleration in year-on-year growth is starting to slow. Property prices surging

The editor

In This Issue
Featured Property
Gauteng, Benoni, Petit
Industrial property for sale 16.6 HA with rights

Local News

Property prices surging

The June FNB House Price Index continued to show rising year-on-year growth to the tune of 12.6 percent. This is higher than May’s revised growth rate of 12.2 percent and is the seventh consecutive month of positive year-on-year growth...

Mortgage advances growth edging higher

Based on credit data released by the South African Reserve Bank, the total value of outstanding mortgage balances at monetary institutions, which includes both commercial and residential mortgage loans, increased by 3.4% year-on-year (y/y) to R1 021,4 billion in May 2010...

Buyer sentiment positive

Giving one of the wide-ranging reviews of the current property scene, for which he has acquired something of a soothsayer’s reputation, Bill Rawson, Chairman of Rawson Properties, and a director of the Institute of Estate Agents, said that right now market sentiment regarding the buying of homes has seldom been more positive...

Great deals and positive thinking drive up property sales

At the half-year mark, property buyers are firmly back in the market – and getting great deals.

“Indeed, this is set to be a winter of content for us,” says Lew Geffen, chairman of Sotheby’s International Realty in SA, “because we are selling more properties and selling them faster...

Developers can look forward to stream of new buyers

Developers should be jumping for joy at the prospect of thousands of new homebuyers recently “liberated” into the market by the introduction of a State mortgage guarantee fund...

Payment advice for off-plan buyers

If you‘re a homebuyer purchasing “off plan” – or in advance of your home actually being built – you will most likely have more money issues to deal with than those purchasing a pre-owned property...

Great alternatives to fixed rates

With interest rates at historic lows, many homeowners are contemplating whether or not to fix their bond rates...

Diminished bank profits could lead to easing up on finance criteria

The stage could soon be reached, says Rob Lawrence, National Manager of Rawson Finance, at which share analysts and financial advisors start querying at what level bank dividends will be paid in the coming year...

House sizes

Owen Dormehl, CEO of Dormehl Property Group says “The tendency of small and medium sized homes escalating in price at a faster rate than large homes has been with us for more than a decade...

Build, buy or renovate?

Whether you're building, buying or renovating a home, it's a challenge if you don't know what to expect. Save yourself many grey hairs by finding out exactly what you're letting yourself in for - from construction and financial perspectives...

SA: great value for money

This year’s exciting soccer extravaganza opens South Africa’s window to the world. Professionals view the World Cup as a marketing opportunity which will engender, hopefully, positive returns — for the economy in general and tourism in particular. Property should also gain, but more in the long run...

Tips for landlords to be able to raise rentals

The strict criteria of the National Credit Act and increasing property prices are forcing South Africans to abandon temporarily any hope of becoming homeowners and making them tenants for longer than they anticipated two or three years ago...

Handling noisy neighbours

Is there anything that I can do about noisy neighbours?

I live in a block of flats with elderly people next door who slam their bathroom door and clean their toilet with a toilet brush, banging it against the seat repeatedly as early as 4.00am...

ERA aims to give savvy consumers ‘more action’

The ERA South Africa property group is anticipating strong growth in the near term premised on new strategies unveiled at the multinational ERA group’s recent business conference in the US...

Focus On

Benoni, Gauteng, South Africa

Benoni is a city with 654,509 inhabitants on the East Rand in the South African province of Gauteng. Since 2000 it has been part of the Ekurhuleni Metropolitan Municipality...

>> Property in Benoni
>> Property in Gauteng

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In the Area

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

  • Gautrain stations
  • Midrand Estates
  • Brits
In the area 1 - Gautrain stations

As the Gautrain development gains momentum, so too does the demand for commercial space in the near vicinity of the Gautrain stations - a trend already clearly evident in close proximity to the Sandton and Rosebank stations, says Lia Pauley, leasing and sales broker for property services company JHI...

In the Area 2 - Midrand Estates

Midrand Estates continues to shine

The massive Midrand Estates development near Centurion has come through the recession with flying colours and demand remains exceptional...

In the Area 3 - Brits

Buy-to-let investors target Brits property

In contrast to many areas in the country where the buy-to-let market is in the doldrums, this market is flourishing in the Northwest town of Brits...

To the editor

South Africa rolls out the Ubuntu in Abundance

I went on a rant the other day regarding the cost of the 2010 World Cup versus all the critical needs South Africa is facing and whether or not the most vulnerable of this country would gain anything from having the World Cup hosted in their country...

Sent in by Dormehl Property Group

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News from IHFM

Setting the budget for bodies corporate can cause arguments - but reserves should always be allowed for

If there is one subject which can be relied on to cause disagreement between the owners and the trustees of bodies corporate it is the level at which levies should be set, says Michael Bauer, General Manager of IHFM, which specialises in the management of bodies corporate and home owners’ associations...

Local News Continue

SA's Top 10 suburbs

Top 10 suburbs are based on Total Number of Sales for the period December 1 2009 to February 28 2010. We review full title and sectional title properties collectively and exclude sales where purchase price is less than R100 000 or greater than R15m...

CyberProp Property Count: 02/07/2010

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