 |
 |
Weekly Property News
Friday, 03 September, 2010 |
|
 |
|
 |
 |
 |
FROM THE EDITOR |
Dear Reader
Ms G Marcus Governor of the Monetary Policy Committee is
going to have her hands full this month when the committee
meets later this month. The meeting is likely to allow a 0,5%
drop in the bank interest rate. But is this enough? Not according
to the property gurus. According to Bill Rawson, Chairman
of Rawson Properties there should be a cut of at least 1%
to allow significant change in residential property sales.
What is you view on this? Send us your comments to news@cyberprop.com
Headlines: Reading through the 2010 Emerging Trends
in Real Estate report, it is interesting to note just how
globalised the modern property market has become. In
the past, local trends and influences were the major determining
factors in the property market of a specific region, but as
the world - and its property markets - become increasingly
globalised, the issues and investment advice pertinent to
the global market become more relevant to localised markets
such as ours, says Peter Gilmour, Chairman of RE/MAX
of Southern Africa. Global real estate trends are relevant
to SA
Market news: The FNB House Price Index continued its
trend of slowing year-on-year price growth, from a July revised
rate of 10.1 percent to an August rate of 7.2 percent. While
the declining price growth trend was expected, the pace of
the decline has been slightly faster than our expectations.
Base effects do play a role, with the base in the second half
of 2009 having begun to rise once more. However, the weakening
also has much to do with a slowing global and domestic economy
as well as a lack of further interest rate stimulus over the
past 12 months (only one further rate cut in March 2010).
The positive impact of the five percentage points worth
of rate cuts from December 2008 to August 2009 has thus started
to wear thin. Prices to fall again?
Enjoy!
The editor
|
 |
 |
CyberProp
Property Count: 03/09/2010 |
|
|
 |
|
|
 |
 |
 |
|
 |
Local
News |
| Global
real estate trends are relevant to SA |
 |
 |
Peter Gilmour, Chairman of RE/MAX of Southern
Africa, considers the findings and advice of a
leading global real estate report and highlights
the startling similarities to the South African
property market...
|
|
| SA's
costliest suburbs |
 |
 |
Three of South Africa's 10 most valuable residential
areas are located along Cape Town's coastline,
according to a Lightstone properties report released
on Thursday...
|
|
| Prices
to fall again? |
 |
 |
The FNB House Price Index continued its trend
of slowing year-on-year price growth, from a July
revised rate of 10.1 percent to an August rate
of 7.2 percent...
|
|
| NCA
being used to redline buyers |
 |
 |
The rich in SAs property market are getting
richer while the poor get poorer because of the
way the National Credit Act (NCA) is being applied...
|
|
| One
percent drop in the interest rate now essential |
 |
 |
The next Monetary Policy Committee meeting is
likely to allow a 0,5% drop in the bank interest
rate - but, says Bill Rawson, Chairman of Rawson
Properties, the cut should be at least 1% if any
significant change in the economy, the growth
rate, job creation and in residential property
sales is to be achieved...
|
|
| Steep
Fall in Rate of Company Failures |
 |
 |
Johannesburg COMPANY failures plunged
last month, while personal bankruptcies dived
even more steeply in June, official data showed
yesterday, providing some good news on SA's economic
recovery...
|
|
| PropStats
figures reveal slight upturn in residential market |
 |
 |
Latest figures from the Western Cape Institute
of Estate Agents PropStats division (which tracks
and analyses sales from some 4 000 agents in ±200
agencies or operations in the Western Cape) reveal
that the upturn in the residential property market
continues albeit at an unspectacular pace...
|
|
| Before
selling calculate ancillary costs |
 |
 |
The ancillary costs of moving from one home to
another are far larger than most people recognise,
says Lanice Steward, MD of the Cape estate agency,
Anne Porter Knight Frank...
|
|
| How
to avoid defaulting tenants |
 |
 |
A recent report has shown that this year 9%
of SA tenants in residential properties are not
paying rents at all and 28% are paying
late...
|
|
| Maintain
rental properties properly |
 |
 |
With the recession only partially behind us and
with incomes often no longer rising in line with
inflation (or any recognised growth strategy)
it can be tempting to landlords to skimp on maintenance
but this is always fatal to
the long term value of the building...
|
|
| Rental
demand a story of contrasts in 2010 |
 |
 |
For many Cape Town letting agents the first three
months of this year were some of the busiest they
have ever experienced, says David Beattie, a director
of the Western Cape Institute of Estate Agents
and Principal of Chorus Letting, which manages
some a few hundred units between Milnerton and
Muizenberg...
|
|
|
Court rules in favour of exorbitant rental increase |
 |
 |
It is often said by property landlords that the
best and indeed the only time when
rental payments on a lease can be raised significantly
is when one tenant leaves and another moves in.
Until then the landlord has to abide by the annual
rental increases that are stipulated in the lease
agreement and these are usually in the
region of 10% and seldom higher than 12%...
|
|
| Make
sure holiday units are trouble-free |
 |
 |
In residential letting, you usually only have
to keep one tenant happy all year. But in holiday
letting, you could have dozens of people to satisfy
in the hope that they will come back or at least
recommend your rental unit to friends...
|
|
|
Check building costs to get value for money |
 |
 |
Everyone knows that newly-built homes generally
cost more, meter for meter, than pre-owned properties,
but many people still dream of building a new
home from scratch and they need to be sure that
they are getting the best possible value for money...
|
|
|
Large stands are good buys |
 |
 |
Worldwide, the sub-division of large residential
stands is gaining popularity and presents
good opportunities for property investors...
|
|
|
 |
 |
Focus
On |
 |
Search
For Properties |
Search for property in your area
 |
In
the Area |
The areas we are going to take a closer look at this
week are;
- Bloemfontein
- Magaliesburg
-
Blouberg
-
Woodstock
| In
the area 1 - Bloemfontein |
 |
 |
Chas Everitt opens in flourishing Bloemfontein
The Chas Everitt International property group
now has an office open in Bloemfontein, which
currently has one of the fastest-growing property
markets in the country...
|
|
| In
the area 2 - Magaliesburg |
 |
 |
Rural Magaliesburg is set to benefit from several
residential developments that are awaiting services
before construction starts...
|
|
| In
the area 3 - Blouberg |
 |
 |
Blouberg tipped as SAs hottest new playground
.Its hot, its hip and its the
most happening place in the Western
Cape to live right now, boasting a heady combination
of magnificent beaches, awesome views and the
integrated urban lifestyle sought after by todays
up-and-coming executives and professionals...
|
|
| In
the area 4 - Woodstock |
 |
 |
Woodstock has a wow factor
One of Cape Towns oldest suburbs, Woodstock,
is set on the slopes of Devils Peak and enjoys
views out to the harbour. Located within the City
Bowl area, Woodstock also enjoys easy access to
the Cape Town CBD...
|
|
 |
News
from IHFM |
 |
Upcoming
events |
 |
Local
news continue |
|
Contravening the conduct rules |
 |
 |
Q&A with Jennifer Paddock
Q1: Please advise whether fines or penalties
for contravention of the conduct rules can be
imposed for persistent transgressors...
|
|
|
Trustee nominations and election |
 |
 |
Prescribed management rule (PMR)
7 requires nominations by owners for the election
of trustees at any annual general meeting (AGM)
to be given in writing, accompanied by the written
consent of the person being nominated at least
48 hours before the meeting. If insufficient nominations
are received before the AGM, then further nominations
can be given, with the nominees consent,
at the meeting...
|
|
|
Tender process for low cost housing needs to be changed |
 |
 |
The news that the States Special Investigatory
Unit has arrested nearly 2 000 government officials,
most employed in housing delivery, on charges
of fraud, corroborates a statement made by himself
earlier this year, says Paul Henry, MD of Rawson
Developers...
|
|
|
|
 |
|
|
|