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Weekly Property News
Friday, 02 July, 2010 |
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FROM THE EDITOR |
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
Enjoy!
The editor
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Local
News |
| Property
prices surging |
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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...
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| Mortgage
advances growth edging higher |
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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...
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| Buyer
sentiment positive |
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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...
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| Great
deals and positive thinking drive up property sales |
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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...
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| Payment
advice for off-plan buyers |
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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...
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| House
sizes |
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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...
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| Build,
buy or renovate? |
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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...
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| SA:
great value for money |
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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...
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| Tips
for landlords to be able to raise rentals |
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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...
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| Handling
noisy neighbours |
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Question:
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...
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| ERA
aims to give savvy consumers ‘more action’ |
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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...
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Focus
On |
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Search
For Properties |
Search for property in your area
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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 |
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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...
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| In
the Area 2 - Midrand Estates |
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Midrand Estates continues to shine
The massive Midrand Estates development near
Centurion has come through the recession with
flying colours and demand remains exceptional...
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In the Area 3 - Brits
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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...
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Local
News Continue |
| SA's
Top 10 suburbs |
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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...
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CyberProp
Property Count: 02/07/2010 |
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