Weekly Property News
04 February 2011

Dear Reader

The City of Johannesburg may not enjoy cutting off services to those who do not pay their outstanding bills but they will continuing doing it this according to the Mayor Amos Masondo at a media briefing earlier this week. This despite the widespread billing problems that has angered many residents. But according to Mr Masondo the City of Johannesburg will not cut of services wrongfully. In the same breath he could not give a timeline for when the problems will be resolved; "In one year's time, in two years' time, many of the problems... will be problems of the past," he said.

2011 and new vehicle sales started on a positive note reported by NAAMSA (National Association of Automobile Manufacturers South Africa). As expected, the year on year growth momentum was more subdued than the frenetic pace recorded during the last quarter of 2010, with aggregate industry sales improving by 7064 units or 18.6 percent y/y to 45,135 vehicles from 38,071 units in January last year. For 2011, domestic new car sales, at this stage, were projected to improve by 10 percent to 15 percent in volume terms. New commercial vehicle sales, on the back of anticipated higher economic activity levels, could improve by up to 15 percent. IAfrica

Headlines: The January 2011 FNB House Price Index slowed further year-on-year after previous months' data releases had hinted at some stabilisation. The slowing year-on-year growth rate in the average house price remains largely driven by weak demand growth, which in turn is the result of, firstly, a weak economy and its constraining effect on household income growth and, secondly, the high levels of household debt relative to disposable income. But strong residential supply, an overhang from the building boom of a few years ago as well as high levels of financial pressure related selling also plays a key role. New SA property recession?

Market news: Since the drastic downturn during 2008 and 2009, commercial real estate markets have been rebounding strongly and changing the outlook of potential investors. While there could be a shake-up in how companies within the sector will have to do their lease accounting, commercial real estate is once again starting to be viewed as a strong asset class worthy of institutional investment. Commercial real estate is once again starting to be viewed as a strong asset class

The editor

In This Issue
Featured Property

Darling, Western Cape
House: Bedrooms: 3 | Bathrooms: 4
Gorgeous property in 'OLD DARLING' with peaceful garden and old fashioned features including original fireplace and wooden floors...

CyberProp Property Count: 04/02/2011

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Properties for Sale: 143,265
Properties to Rent: 10,826

Local News

Commercial real estate is once again starting to be viewed as a strong asset class

www.stockcall.com offers investors comprehensive research on the property management industry and has completed analytical research on CB Richard Ellis Group Inc...

New SA property recession?

The January 2011 FNB House Price Index slowed further year-on-year after previous months' data releases had hinted at some stabilisation...

Consolidation of prices expected for property market

The residential property market will out-perform expectations in 2011 despite economists' views that this year will be tough for the property market....

First time buyers in SA follow worldwide trends

Peter Gilmour, Chairman of RE/MAX of Southern Africa, compares requirements of first-time home buyers in the US to local appetite and market conditions...

Buyers need help to clean up credit records

Many entry-level buyers are losing out on the chance of home ownership because no-one has advised them how to clean up their credit records before applying for a bond...

Revisiting the 'buy' vs 'lease' debate:

Alchemy Corporate Property Advisors outlines some of the pro's and con's of buying premises, rather than following the traditional route of leasing them...

Measures to help distressed homeowners

If, as is commonly stated, home ownership is the cornerstone of a stable society and a prime motivator toward working and wealth generation, then it behoves governments to encourage it – and, when economies decline, to take measures to ensure that as few homeowners as possible lose their homes...

Why a buyer should work through a bond originator

A Rawson Finance knock and drop flyer lists ten reasons why a prospective homebuyer should work with a bond originator such as themselves (and a further four reasons why the buyer should let them pre-qualify him)...

Banks' methods of handling bond applications

A safety rating of the suburb in which you would like to invest in won’t come with your new home’s inspection report – it is up to you to check out the area before you invest, says Adrian Goslett, CEO of RE/MAX of Southern Africa...

Are you paying the right price for your new property?

How does a homebuyer know if he is offering the right price for the property in which he is interested...

Wise property investments have high appreciation potential

While buying a home may not be high on a young person’s to-do list this year, the sooner buyers place their foot on the first rung of the property ladder, the better; provided, of course, that they have their ladder against the correct wall...

Property Syndications: the end is nigh

Masterbond, Supreme Bond, Owen Wiggins, Capital Properties, Bluestone, The King Empire and more recently the Sharemax problems all confirm the “higher the return the higher the risk”

Take care when you renovate

Adrian Goslett, CEO of RE/MAX of Southern Africa, gives some advice to consider before homeowners dive into renovations without carefully thinking them through...

Sea Point victory hailed

The civic body Seafront for All on Thursday said their hard work was not over yet despite their latest victory against a developer...

Samuel Seeff distraught over fractional scheme

Reveals all the fractional ownership properties are affected. We're not running away but we also won't pick up the tab...

Focus On

Darling, Western Cape, South Africa

Groenkloof, the name of the area in which Darling is situated, dates back to 1682 when standard bearer Oloff Bergh, pioneer explorer, undertook a journey to the north through the heavy sands of the West Coast. Darling...

>> Properties in Darling
>> Properties in the Western Cape

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In the Area

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

  • Cape Town
In the area 1 - Cape Town

Council tenants don't pay

Some 30 000 families living in council-owned homes do not pay rent regularly, the City of Cape Town said on Monday...

To the editor

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News from Indawo

Historic Robben Island church given a makeover

Indawo, the largest painting, master decoration, structural repair, restoration and asbestos removal contractors in the Western Cape, have been awarded a contract by the Robben Island Museum (RIM) to repaint and repair the historic Anglican (now non-denominational) church on Robben Island...

Local News Continue

An owner is not entitled to withhold levies

An owner is not entitled to withhold levies to set-off a debt she believes is owed to her by the body corporate...

Many problems can hold up sale process

It is just possible, says Tony Clarke, MD of Rawson Properties, that the high number of depressive and breakdown cases among estate agents is due not so much to the tough economic conditions but to the vilification some receive from clients...

Tips for green living in the home

Do you care about the environment and your health, but want to be stylish with your home décor at the same time...

Sectional Titles Act management provisions amended

Sectional Titles Amendment Act, No. 11 of 2010 was published as Notice No. 1172 in Government Gazette No. 33849 of 7 December 2010...

Personal liability of executives of home owners’ associations

It is unusual for executives of home owners’ associations (HOAs) to be held personally liable for a failure of the association to perform any of its obligations...

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