Weekly Newsletter
Friday, 03 August 2007
Property Search | Estate Agents | List your property

Edition 30 of 2007, Friday, 03 August 2007

Dear Reader

New vehicle sales declined for a third consecutive month last month. The reason? Higher interest rates and for sure the new National Credit Act. Was this the same for the property market? The house price growth for July 2007 has dropped. This according to Standard Bank's Residential Property gauge. House price inflation rose by 10.4% year-on-year (y/y) in July, down from 18.8% jump in June and the 10.9% increase May.

It has been a tough two weeks for the Mail & Guardian with late night court orders not to place certain articles. The result was that the M&G arrived late and without some of its stories. In their apologies to the their readers I found the following information; How the land lies - Restrictions on foreign ownership are common in other countries, including developed democracies. The difficulty is that no one knows exactly how much land is in foreign hands or what the impact of such purchases might be. The report found that between 1,5% and 2% of land is owned by foreign individuals, but admitted that corporate holdings are not known. However, even this figure is contradicted by estate agents, who say that not more than 1% of South Africa’s land is foreign owned. Indeed very interesting.

And in the mean time the Dubai government owned investment company Dubai World - through their Leisurecorp subsidiary - snaps up another prime Cape Property. This time they have embarked in a golf estate, Pearl Valley. David Spencer, CEO of Leisurecorp, says that compared to projects the company studied in Europe and Asia, South Africa has a very bright future.

Springbok centre Jean de Villiers wasn’t kidding when he suggested that visitors might need GPS to get to his new house at Oude Westhof, in Cape Town’s northern ‘burbs.

And that is where we will focusing on this week, Cape Town, Western Cape, South Africa. The 17th Century victualling station that became the vibrant, friendly Mother City of South Africa, with the majestic Table Mountain, a sight of international renown. Fascinating historical heritage, museums, places and peoples.

In our CyberProp.com Blog we take a look at how iron ore mining is boosting the Kalahari property demand.

The editor


>> Real Estate News - Australia

House prices soar ahead

PROPERTY values in Belgrave South have risen by a stunning 30 per cent in the space of 12 months – and real estate agents say there is no plateau in sight.

Figures released last week by the State Government show that Belgrave South experienced the seventh highest shift in median house price in metropolitan Melbourne from 2005 to 2006.

In 2005, the median house sale price for the suburb was $279,000...

>> July house price growth drops

House price inflation rose by 10.4% year-on-year (y/y) in July, down from 18.8% jump in June and the 10.9% increase May, the Standard Bank’s Residential Property gauge showed.

The growth brought the median house price to 585,000 rand from 620,000 rand in June and 600,000 in May. The five-month moving average growth rate, which is a popular measure used to gauge trend growth, escalated modestly to 11.1% y/y in July from 10.8% y/y in June...

>> Istithmar progresses Pearl Valley golf resort project in South Africa

UAE. Dubai government-owned investment company Istithmar - through its Leisurecorp subsidiary - has snapped up another prime Cape property after its famous recent acquisition of the V&A Waterfront from Transnet in South Africa.

Istithmar, the investment company of Dubai World, has an investment portfolio which includes more than 50 successful companies. The company is investing heavily in golf resorts and David Spencer, CEO of Leisurecorp, says that compared to projects the company studied in Europe and Asia, South Africa has a very bright future...

>> Be smart about downsizing

Downsizing to a smaller home is a financial or health necessity for some people — and for others it is simply the need to be free of high-maintenance houses and gardens.

Whatever your reason for downsizing, you may find it difficult to make the transition from the larger property to a smaller space...

>> When is renting better than buying?

Home ownership is becoming increasingly possible for a growing number of South Africans – but there are times when it may actually be better to rent a property rather than buy one.

So says Berry Everitt, MD of the Chas Everitt International property group, who notes: “For a potential buyer who is working on contract, for example, and is most likely to be moving to another area within a year or two, it most probably makes more financial sense to rent rather than to buy a home...

>> Look beyond bricks and mortar for real gains

The demand for housing and property investments continues to grow on the back of solid economic growth, but the supply of developed property is limited and supply costs are high and rising, forcing up prices to unaffordable levels, André Stadler says.

The higher prices and interest rates will create affordability constraints for investors. This means the buoyant markets can be expected to cool off. He says the short-term uncertainty over interest rates could create high volatility in property markets...

>> Big demand for beginner houses

AFFORDABLE, fully bonded housing developer RBA Housing hopes to complete 1037 houses this year to cater for the strong demand from emerging middle class buyers.

RBA Housing, which specialises in developing properties priced between R250000 and R700000, says it has 600 houses under construction in 20 project areas in Johannesburg, Tshwane, the Vaal Triangle and Polokwane...

>> Focus on Cape Town, Western Cape, South Africa

Cape Town's name originated from the term 'Cape of Good Hope'. From the time of the first recorded discovery of the Cape of Good Hope, seafarers looked forward to the sight of Table Mountain from as far as 200 km away.

Unquestionably one of the world's most famous landmarks, the 1 086 m high Table Mountain provides the city of Cape Town with a dramatic setting of unrivalled beauty.

>> View Properties in Cape Town
>> View Properties in the Western Cape

>> Property of the week

Western Cape, Cape Town, Oranjezicht

Bedrooms 7.00
Bathrooms 7.00

Originally built as a residential hotel in 1905, this fine example of an early Victorian built with Table Mountain stone is now partly restored by its perfectionist German owner as a 7 suite guest house or a family home with a flatlet...

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>> My First House - Dotting Down, Jean de Villiers

Springbok centre Jean de Villiers wasn’t kidding when he suggested that visitors might need GPs to get to his new house at Oude Westhof, in Cape Town’s northern ‘burbs. It’s a confusing place of twists and turns, where street names range from types of wine (think ‘Chardonnay Road’ or ‘Burgundy Drive’) to botanical species. Which is probably all fitting, since Oude Westhof was once situated on three farms and is now close to the popular Durbanville wine route.

>> News from - Homenet

Homenet Overberg goes to Cape Town

The string of successful Homenet estate agencies in the Overberg district, owned by property stalwart Conrad de Swardt, has been expanded to include two city offices in Cape Town.

De Swardt has acquired offices in Tygerberg and Blaauwberg, which brings the total number of Homenet agencies under his wing to 16...

>> From the CyberProp Blog

Iron ore mining boosts Kalahari property demand

Property prices in Kalahari towns have grown exponentially thanks to increasing iron ore mining activity in the region.

In some instances prices have more than quadrupled in the past two years, says Gerrit Vos, co-owner of the Aida franchise in Kuruman, which also has offices in Kathu, Olifantshoek and Postmasburg.

“The whole region has benefited hugely by increased mining activities at the Kumba and Khumani mines. Prices in Olifantshoek and Kathu especially have grown phenomenally, albeit off a low base...

>> Software at its best!

We are constantly look for avenues to advertise the properties of our CyberAgent users and will continue doing just that. Our newest avenue, www.brabys.com, one of South Africa's top search engines for Businesses, Maps and Directions.

If you would like to know more about the above features and benefits that CyberAgent offer, visit: www.cyberagent.co.za or email: sales@cyberprop.com

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