Weekly Property News
03 December, 2010
FROM THE EDITOR

Dear Reader

According to the Council for Scientific and Industrial Research (CSIR) motorist must prepare themselves for more potholes with Provincial roads as the main problem. These roads are maintained by the local municipalities which often have budget constraints. Let’s hope that there won’t be “potholes” in the property industry in 2011.

The most trusted Real Estate Company in South Africa! A few weeks ago we asked our CyberProp.com readers to nominate the real estate company that they would like to see receiving this honor. Nominations have now closed and the voting process has started. Follow the following link to cast your vote: http://www.cyberprop.com/most_trusted.shp.

Headlines: With the postponement of the Consumer Protection Act (CPA) implementation date to April 1 2011, property experts have a lot to digest as to how this will impact on property deals. Under the Act, consumers will be protected against unfair business practices. They will also have the power to cancel contracts if they are not satisfied with the terms. As an example, section 14 of the Act provides for a right for a tenant to terminate a lease either during the currency of a fixed term lease or any time after the fixed term lease has ended on 20 business days notice. "Lease agreements will need to be watertight, if this is even possible, and people in the property industry will need to guard against potential tenants who may breach," says Marlon Shevelew Property legal expert and founder of Marlon Shevelew and Ass.

Market news: The average house price growth slowdown continues, with the November FNB House Price Index recording a year-on-year rate of increase of 3.8%. This is only slightly lower than the previous month's revised rate of 3.9%, reflecting a recent slowdown in the pace of decline in price growth in recent months. It is possible that the slowing pace of decline is reflective of some additional stimulus that the Reserve Bank (SARB) has given to the market through its interest rate cut in September, while the November rate cut would only be reflected in the numbers in coming months. The average price for November was R787,530. House price inflation decline slows in November

Be careful! Be wise! “The low interest rates at the moment obviously do make it much easier to qualify for a home loan, to afford the monthly bond repayments and municipal charges, and to have money left over to keep the home in good condition. But it is extremely important for homebuyers not to purchase more home than they actually need just because it is “going cheap”, this according to Berry Everitt, CEO of the Chas Everitt International property group.

Enjoy!
The editor

In This Issue
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165 ha farm in the Bushveld near Pilgrims Rest Magnificent Mountain Views! 3 Bedroom house with everything you need PLUS 1 Rondavel , Restaurant, hiking trails...


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CyberProp Property Count: 03/12/2010

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Properties for Sale: 147,370
Properties to Rent: 10,901

Local News

House price inflation decline slows in November

The average house price growth slowdown continues, with the November FNB House Price Index recording a year-on-year rate of increase of 3.8%...


Low GDP growth rate and low inflation

Inflation is a factor which, it has been shown time and again, invariably boosts residential property prices - and the news that South Africa's inflation rate is down to 3,2% is, therefore, not altogether welcome to the property sector, even though it shows how effective the country's austerity and credit control measures have been...


It is a great time to buy, but don’t overspend

Homebuyers should never jump into the market with their eyes shut, even at times like these, when the combination of low interest rates and still-low property prices is creating some wonderful purchase opportunities...


How to invest in industrial property

So, we’ve all heard that sectors of the industrial property market are booming in an otherwise slow property industry...


Slow down for demand in residential property not so severe in the Western Cape

PropStats’ data from the Western Cape Institute of Estate Agents of South Africa have indicated that the much-publicised slow-down in the demand for residential property in South Africa has, by and large, not been nearly as severe in the Western Cape as some reports might have suggested...


Foreign buyers are few and far between

There was a time two or more years ago when residential property estate agencies, some with international connections, earned considerable kudos by publicising impressive figures on the number of foreign buyers to whom they had sold South African property...


Corobrik: low level activity to continue into 2011

SA brick manufacturer Corobrik believes that current low levels of activity in the market will continue for the first half of 2011...


Building confidence up

Building contractors continued to face difficult conditions during 4Q2010. However, the increase in the FNB/BER building confidence index signals early stirrings in parts of the building industry, with a possible broader recovery in building activity from later in 2011 onwards...


Province rejects property development above Glencairn

The socio-economic benefits of a proposed development of 65 middle-to-high income houses on the mountain slopes above Glencairn would be minimal compared to the negative impacts on the natural environment, the provincial department of environment and planning has ruled...


Young middle class South Africans increasingly attracted by property

One of the gratifying aspects of working in the property sector at present, said Bill Rawson, Chairman of Rawson Properties, is that despite the difficult conditions more and more young, well-educated people, often with degrees, are now expressing an interest in making property a full or part-time career...


Renting? The CPA could have nasty implications

With the postponement of the Consumer Protection Act (CPA) implementation date to April 1 2011, property experts have a lot to digest as to how this will impact on property deals...


High rentals for student accommodation

Many landlords are hesitant to let their properties out to students because, as they see it, the risk of damages and other problems are simply too high...


Rental diversions where landlords are in arrears with levies?

An interesting provision in the standard "Community Statement" prescribed under the Commonhold legislation (England and Wales' version of sectional titles) is that the association can secure the "diversion of rent" from the tenant of a defaulting unit owner to the association to settle the levy arrears...


Mixed use, multi-layered developments

What does Century City, home to Ratanga Junction theme park and Canal Walk, one of the biggest shopping malls in Africa, have in common with the little gated complex around the corner from where you live?


Cape's top house a snip at R60m

Indian booze billionaire buys himself many rooms with a view.

Indian liquor baron and Formula One team owner Dr Vijay Mallya has splashed out R60-million for a Cape Town mansion in which Hollywood star Nicolas Cage once slept on embroidered pillows...


Focus On Kruger National Park

Kruger National Park

Montagu is approximately 2 hours drive from Cape Town on Route 62. This peaceful town is steeped in history and is famous for its awe inspiring rock formations, orchards, vineyards, local herbs and healing hot mineral springs...


Search For Properties

1. Western Cape
2. Garden Route
3. Northern Cape
4. Eastern Cape
5. KwaZulu Natal
6. Free State
7. North West
8. Gauteng
9. Mpumalanga
10. Limpopo

Search for property in your area

Enter City/Suburb:

In the Area

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

  • Polokwane
  • Parys
  • Montana Park/ Magalieskruin
  • Chatsworth
In the area 1 - Polokwane

Polokwane homeowners find benefit in staying put

Home renovation and stand subdivision are currently big news in the Polokwane property market, as existing homeowners resist the “hidden” costs of moving and act to unlock the value of their properties....


In the area 2 - Rising demand underpins Parys prices

Parys on the banks of the Vaal River is rapidly transforming itself from a weekend getaway destination into a permanent refuge for those escaping from the stress of city life, and its real estate market is thriving as a result...


In the area 3 - Montana Park/ Magalieskruin

There are few areas in SA where prices have remained as stable in the past three years, and are as well poised for an upturn soon as the Montana Park/ Magalieskruin enclave in Pretoria...


In the area 4 - Chatsworth

Tyson Connects With the Chatsworth Community

The growth of the Tyson Properties’ franchise network has gathered momentum with the recent opening of a new franchise in Chatsworth, making this the group’s 11th office...


To the editor

Tyson Properties Does The Dirty Work

A shipshape home will fetch a higher price and sell more quickly. That's the rationale behind creating Tyson Properties' new maintenance division...

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


Local News Continue

Enclosing balconies in sectional title schemes

Balcony enclosure is a troublesome subject in sectional title. When trustees are considering a balcony enclosure application, they should go through the following questions and take into account the considerations set out below...


Security tips for the holidays from Val Ludgrove Real Estate

Credit Cards: Credit cards are as good as cash and clerks rarely check identification. Most credit card companies hold the owner responsible for all purchases until the card is reported stolen...


Garage door maintenance

These days, developers of sectional title schemes generally opt for open underground parking, as opposed to the individual ground level garages of days gone by...


The GBCSA

Call for PILOT projects for the new 'Green Star SA Multi Unit Residential PILOT' rating tool

The GBCSA is seeking a maximum of FOUR multi unit residential projects to be selected for the opportunity to achieve formal Green Star SA certification under the new Green Star SA - Multi Unit Residential PILOT rating tool...

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