Weekly Property News
Friday, 4 September, 2009

According to International Living magazine South Africa and the United Kingdom are two places not to retire primarily because of high real estate prices. South Africa didn’t do well in any of the categories. Wrong according to me. South Africa offers numerous reasons why it should be first choice, fantastic climate, rich in culture, high standard of living and many more. The Best Place in the World to Retire, Says International Living

It seems that the property market overall has certainly recovered well from the lows that was experienced in 2008 and parts of 2009 and that the worst is over. I’m sure that with us heading into Spring and nearing the end of 2009 we could see even more healthier activities. Looking at the latest Absa House Price Indices it is clear that the year-on-year house price deflation in the small houses, medium-sized houses and large houses segments are for sure slowing down. As for the FNB, "The FNB House Price Index's year-on-year decline continued in August, but for the second successive month we saw a diminishing price deflation rate, with the index starting to show clearer signs that the market is starting to stabilise" said John Loos, property strategist at FNB.

For those of you that is not sure in which segment your property falls;

  • Small houses – (80m²-140m²),
  • Medium-sized houses (141m²-220m²)
  • Large houses (221m²-400m

It is not only house prices that are starting to show signs of recovery but the approach of the banks has also improved. In the affordable housing market Standard Bank is now granting 100% bonds where Absa and FNB is willing to grant bonds for those earning under R 15 000 and R 11 000. With property price starting to stabilise and the banks offering a more open hand to lending South Africa is looking forward to 2010.

If you’re thinking that maybe you should wait before you take action think twice and start doing your homework as property still stays one of the best investments that you can get involved in.

The editor

In This Issue
Featured Property

Western Cape, Riversdale

Property Type: 514 ha Farm | Bedrooms: 4

CyberProp Property Count: 04/09/2009

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Properties for Sale: 134,695
Properties to Rent: 10,480

Real Estate News International

The Best Place in the World to Retire, Says International Living
For years, Ron and Donna Carlson had been searching for the perfect retirement spot. After long professional careers, they were living comfortably in Camas, Washington with a view of the Columbia River and Mt. Hood...

Local News

SA touched by World Cup glory
A photograph with the 2010 FIFA World Cup™ Winners Trophy is not an everyday privilege. But for a handful of South Africans, the chance to stand next to the trophy that will be lifted by the victorious team on 11 July 2010 became a reality today...

International recovery signs bode well for SA market
The UK and American property markets are showing the first signs of recovery, a scenario that bodes very well for the SA market...

SA's house prices have turned the corner

Fresh figures from Absa reinforce view "the worst is over...

More signs South Africa's housing market is recovering

FNB's latest stats show property market isn't quite as bad as it was...

Banks are looking more favourably at loans to the lower end of the market
The recent initiative by FNB and ABSA, and more recently Standard Bank, to increase the credit flow to the lower end of the housing market will prove a very welcome boost to the property market, says Ivan Neethling, Chairman of the Western Cape branch of the Institute of Estate Agents...

First-time buyers want move-in homes

Greater affordability and declining home prices are now prompting more first-time buyers to enter the property market...

Don’t rent from a friend without a proper lease

Whether you’re a landlord or a tenant, you should always make sure your rental agreement is in writing – and this is doubly important if your agreement is with a friend or family member...

6 signs your tenant will be troublesome
According to the latest market research compiled by TPN, a registered credit bureau and developer of the industry's first rental payment profile of its kind in South Africa, on average 10% of tenants default on 2 months' rent, says TPN MD Michelle Dickens...

Is short-term letting OK?

Is short-term letting of a unit (typically a week to two weeks at a time) permissible in a sectional title complex?

City Bowl residential property about to enter a really positive phase
There are now clear indications that residential property in the City Bowl, Higgovale, Tamboerskloof, Oranjezicht area is about to enter a really positive phase, with genuine growth taking place from 2010 onwards, says Tristan MacLennan, Manager of Greeff Properties' new City Bowl branch...

Spring garden tips
Spring is an active time in your garden. As the plants and ground wake up from their winter nap, it is time to get serious about your gardening to make sure that your crops are ready for the spring, summer, and fall...

Sectional Title News for Everyone

Can sectional owners in arrears with levies use the debtor - protection provisions in the National Credit Act?
Attorney Andries Landman of Wynberg drew my attention to Tertius Maree's article in Die Burger's 'Deeltitelforum'...

News From

Rama City - Top design firm hired to plan Rama City

Rama City, the new mixed-used development to the north west of Pretoria, will have at its heart a new Town Centre that is a source of pride for all its residents...

Focus On

Riversdale, Western Cape, South Africa
Riversdale was founded in 1838 and named after Harry Rivers, a local government official. It is situated on the busy N2 Highway leading to the Garden Route...

>> View Properties in Riversdale
>> View Properties in the Western Cape

Chas Everitt Home MakeOver

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;

  • Silver Lakes (Pretoria)
  • Pretoria
  • Parow
In the Area 1 - Silver Lakes (Pretoria)

Silver Lakes was the first estate in Pretoria to combine an exclusive residential living with an 18-hole championship golf course and then later added a natural area stocked with small plains game...

In the Area 2 - Pretoria
The property market in Pretoria and the surrounding areas is showing encouraging signs of stabilising...

In the Area 3 - Parow
It may come as a surprise to those Capetonians living in more affluent areas that what are sometimes referred to as the disadvantaged suburbs have a flourishing community life – and an active property market..

To the editor

If you look at property in the Western Cape and the rest of the country; Western Cape might get a little overrated the last few years. Prices are going up immensely. Do you think 2010 will have an even higher impact on this?

From: Cape Town Villas

Send us your comments to news@cyberprop.com

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