Weekly Property News
04 May 2012

Dear Reader

Good news this week for property owners;

  • Gill Marcus says lowering the interest rate is not an option
  • The highest year-on-year house price growth since June 2010
  • Despite April's public holidays, new car and commercial vehicle sales registered relatively strong gains
  • Table Mountain confirmed as new seven wonder can boost South Africa's tourism

Headlines: House prices in April showed the highest year-on-year growth since June 2010, according to the FNB House Price Index released on Wednesday. "The FNB House Price Index showed a further acceleration in April, up from a revised March growth rate of 8.1 percent to 8.6 percent year-on-year," FNB Home Loans strategist John Loos said in a statement. "This is the highest year-on-year growth since June 2010." SA house prices show growth

Market news: Conflicting data about the residential property market is making it difficult to determine the major trends in the market. FNB reported yesterday that house price growth last month accelerated further to 8.6 percent year on year last month from 8.1 percent in March. In doing so, the market achieved the highest year-on-year growth since June 2010, it said. Excluding the impact of inflation, FNB'S house price index showed that house prices in real terms in March had increased by 2 percent year on year. However, Absa's house price index last month revealed that average home values were deflating. Mortgage originator Betterbond also confirmed that its statistics showed the average home purchase price paid by buyers applying for mortgage finance dropped from R828 450 in January to R817 684 in February and R793 332 in March. Property price trends obscured by conflicting data

The editor

In This Issue

Hibberdene, KwaZulu-Natal
House | Notes:
Brilliant position at hte top of the hill with wonderful river + sea views. New tuscan home with pool, jacuzzi, bar, air cons and it comes fully furnished.

Local News

May Property Clock

Knowledge Factory's, SA Property Transfer Guide has kept its Property Clock unchanged this month at 21 minutes to the hour...

SA house prices show growth

House prices in April showed the highest year-on-year growth since June 2010, according to the FNB House Price Index released on Wednesday...

South Africa: Road to recovery

The real estate sector in South Africa is showing early signs of upward movement after more than three years of underperforming, though any improvement in sales and buyer interest is still thin and analysts are wary of predicting an end to the slump amidst uncertainty over the local and global economies...

Interest rates likely to stay low

The South African Consumer Price Index, so closely watched by the economists trying to predict future scenarios, has, contrary to the expectations of many of these commentators, come down in the last two months...

Property price trends obscured by conflicting data

Conflicting data about the residential property market is making it difficult to determine the major trends in the market...

Basel III set to be a bombshell for home buyers

The imminent implementation of the new Basel III rules on banking capital and liquidity will undoubtedly make it more difficult and more costly for homebuyers to obtain mortgage finance...

Fast nominal growth, but house prices remain bleak

Amid a growing shortage of rental housing stock and rising monthly rentals, more and more tenants are now exploring the possibility of becoming homeowners in their own right...

Do not wait to buy

Those whose business it is to try and secure mortgage bonds for homebuyers are almost all highly sceptical of the current spate of advice telling people to wait another two or three years before making a home buying commitment - the thinking being that there will be minimal value growth in that period...

Western Cape property prices outperform all others in South Africa

The claim so often made by Western Cape estate agents that residential property values in their province are the highest and most stable in South Africa has once again been verified from data from a reputable source...

Property giants go green as the penny slowly drops

Pressure also mounts as new building regulations demand compliance with sustainability...

On-going sustainability education a focus for the GBCSA

In response to evident need, coupled with industry demand, the Green Building Council of South Africa - the country's leading green building authority - continues to offer exciting workshops in addition to their existing Accredited Professional training courses...

Taking the risk out of renovation and resale

Renovating a run-down home can be very rewarding financially as well as personally - providing you can minimise the risks associated with "fixer-upper" projects...

An early winter check can save thousands in wet weather damage costs

Every year around this time Anne Porter Knight Frank, the Cape estate agency, finds that among its clients, especially those who have moved into newly purchased homes, winter can come as a shock: leaks, droughts, rising damp and other cold weather problems suddenly become apparent and troublesome...

Technopark expected to attract more tenants?

The prestigious multi-billion Rand Highveld Technopark in Centurion - and its surrounds - is undergoing some substantial changes which are expected to make the office park more alluring to businesses looking for value for money rental premises...

Administrators and bodies corporate

Whilst the majority of bodies corporate around South Africa are run by well meaning, hardworking trustees; there are select schemes that are being unscrupulously run to the detriment of the owners involved...

Focus On

Hibberdene, KwaZulu-Natal, South Africa

Hibberdene, the gateway to the Hibiscus Coast of Kwazulu Natal is a cozy little seaside town situated 97 km south of Durban and within an hour's drive to the Wild Coast Casino. It lies halfway between Scottburgh and Port Shepstone...

>> Properties in Hibberdene
>> Properties in KwaZulu Natal

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5. KwaZulu Natal
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In the Area

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

  • Johannesburg
  • Durbanville
  • Rustenburg
In the area 1 - Johannesburg

Johannesburg Commercial Property overview Q1 2012

The commercial property market is beginning to favour landlords in the prime office accommodation as they are beginning to achieve asking gross rentals and reduced vacancies albeit limited speculative completions...

In the area 2 - Durbanville

Correctly priced properties in Durbanville, to the north-east of Cape Town, can currently be sold in four to six weeks - much faster than the national average of around four months - thanks to the attractions of the area for both young families and retirees...

In the area 3 - Rustenburg

Rustenburg, the world's platinum capital, is fast expanding with economic growth of more than 13% per year - and property development is keeping pace thanks to extensive infrastructure upgrades...

To the editor

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Local news continue

Increase show day traffic
Having the most beautiful house on the block is one thing, but getting buyers into it is another, says Adrian Goslett, CEO of RE/MAX of Southern Africa...

Do all preliminary groundwork before applying for a bond for commercial property

In most cases the toughest obstacle that a potential buyer of commercial property has to face and overcome is the procuring of finance...

Online bidding system raises the bar

Against the background of a booming vehicle auction sector, South Africa's first live, on-line, real time Internet based vehicle auction bidding system has been unveiled.

GBCSA course update and change of number

Upcoming Courses Offered by Green Building Council of South Africa...

Modern family home and neighbourhood shopping centre on auction

Park Village Auctions has been mandated to auction a modern double storey residential property in Cyrildene and a quaint neighbourhood shopping centre in Observatory...

CyberProp Property Count: 04/05/2012

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