Weekly Property News
Friday, 05 March, 2010
FROM THE EDITOR

Dear Reader

I watched a program, on national television, this week encouraging South Africans to make money during the Soccer World Cup. The presenter was telling the public that it’s not a bad idea to invest in a vehicle, as loads of tourist will be looking for transport. Yes, passenger cars sales for last month might have risen by a surprising 21.4% year-on-year, proving that the recession is over but for me it’s not a reason for the consumer to once again go out and spend, as economists are projecting an interest rate hike in 2011. What will happen if we encourage the public to purchase property for letting out to tourist during this period? Will it have a positive or negative on the property industry in the long run? Send us your view point to news@cyberprop.com.

Headlines: The punters are yet to identify the form teams for the upcoming soccer extravaganza that will be played out on the fields of South Africa. But for those tracking real estate, the lead up to the 2010 World Cup bodes nothing but good news for the country's property market. Winners take all in South Africa

Market news: We place two different viewpoints in this week’s newsletter. That of FNB and Standard Bank; The existing home market is a happier place these days, arguably past its worst state of health, as demand grows off the dismal lows of early-2009 and the acceleration in house price inflation continues. The FNB House Price Index showed a further increase in year-on-year inflation, from a revised 3.6 percent in January to 5.8 percent in February. Good times rolling again! FNB

The rate of decline in the median house price continues to slow down. There will be no rapid turn-around for the housing market, Standard Bank said on Tuesday in its latest residential property report. No rapid turn-around for the housing market - Standard Bank

Read more in To the Editor

Enjoy!
The editor

In This Issue
Featured Property
Western Cape, Struisbaai

Appealing stone-built guest house situated within walking distance to beach...

 

CyberProp Property Count: 05/03/2010

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Properties for Sale: 125,402
Properties to Rent: 9,706

Local News

Winners take all in South Africa

The punters are yet to identify the form teams for the upcoming soccer extravaganza that will be played out on the fields of South Africa. But for those tracking real estate, the lead up to the 2010 World Cup bodes nothing but good news for the country's property market...


No rapid turn-around for the housing market - Standard Bank

There will be no rapid turn-around for the housing market, Standard Bank said on Tuesday in its latest residential property report...


Podcast: Property: shaping up?

How is South African property shaping up? As always, a fascinating chat on the local market with Chris Drummond of Benguela Cove Investments (Pty) Ltd...


Global interest in SA property rises

People all over the world are showing an increasing interest in SA property, as evidenced by a huge rise recently in the amount of international traffic to local property websites...


Sellers losing out as they wait for foreign buyers

Homeowners who are postponing their property sale plans now in the hope of achieving higher sale prices during the Soccer World Cup are not doing themselves any favours...


Property offers the power of gearing

One of the biggest reasons for property’s gain in popularity as an investment over the past few years has been the ability to leverage the purchase by accessing mortgage finance...


100% bonds to select clients

Only 5% of applications for 100% bonds successful

The banks, says Rob Lawrence, National Manager for Rawson Finance, have received much favourable publicity on account of their willingness once again to give 100% bonds – to select clients...


A foot in the door

The majority of first-time home buyers consist of mostly younger individuals who have limited experience of owning or maintaining a property of their own. As a result, many of these individuals are not in a position to make a well informed decision about the long-term implications involved in purchasing a home...


Auction growth reported in KZN

More than 40 exciting commercial and industrial properties, as well as 32 residential properties, are set to go under Auction Alliance's gavel in March. This follows a highly successful auction in February this year, which was held in Durban and totaled an impressive sum of over R90million...


Benefits of having your own design

The major advantage in commissioning an architect and eventually building your own home is that you get a completed home that ideally meets your needs, both in terms of function and quality...


Personal finance storm clouds loom on horizon

Looking through the 2010 soccer euphoria gripping South Africa, financial trouble is looming on the horizon for many households...


How to curb your property's electricity bill

Less than a year after a 31.3% price hike, the National Energy Regulator of South Africa (Nersa) last week approved an additional 24.8% rise, with further increases in the pipeline: 25.8% in 2011 and 25.9% in 2012. According to Rennie Property, South Africa's leading specialist commercial property management company, this will have a significant impact on the tenants of commercial property and as a result, the owners as well...


Geysers a recurring problem

Owners and trustees of sectional title schemes can be forgiven if occasionally they have a strong yearning to stick pins into wax effigies of geyser manufacturers, says Michael Bauer, general manager of IHFM, specialists in the sectional title management industry...


How to banish damp

The high level of rainfall in many areas this summer has brought to the fore the home maintenance problems that can be caused by the presence of damp...


Student accommodation gets snapped up in Jozi centre

Demand for student accommodation close to Johannesburg’s main university campuses has soared in the past few years. By end February, Aengus Property Management’s 560 units for leasing in the area will be fully subscribed...

Focus On

Focus on Struisbaai, Western Cape, South Africa

Struisbaai, in the Overberg, is situated in the southern most region of South Africa, where the Indian and Atlantic oceans meet. It is well known for its 14km white beach and boat- and rock-based angling.

>> View Properties in Struisbaai
>> View 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;

  • Johannesburg
  • George
  • Struisbaai
In the area 1 - Johannesburg

Jozi property tops SA

Property in Johannesburg is proving to be one of the most resilient areas in the country with prices having held up strongly over the past year...


In the Area 2 - George

Local buyers boost George property market

Property sales in George started an upward trend in September last year, which resulted in the best December sales figures in many years for the local Chas Everitt International office, and good results since then...


In the Area 3 - Struisbaai

Cash is king in Struisbaai

IProperty sales are picking up in Struisbaai and cash buyers predominate...


To the editor

Grandma does not have to live on the ground floor any longer

Over the last 20 years, says Jamie Heathcote-Marks of the Building Centre at Cape Town, there have been regular enquiries for some relatively inexpensive system for carrying infirm people to the upper levels of homes...

Send your viewpoint to news@cyberprop.com

News from Anne Porter Knight Frank

Don't bash estate agents says Steward - they more than earn their keep

Lanice Steward, MD of Anne Porter Knight Frank, the Cape Peninsula estate agency now working from five offices, has taken up the cudgels on behalf of estate agents countrywide...


Local New Continue

Clients who over-rate the value of their properties

It’s been said before - but it has to be said again because the practice still, it seems, is prevalent throughout South Africa: estate agents are still finding that some of their colleagues are only too willing to give a too high valuation in order to get a mandate...


On the Move 2(Dormehl Property Group):
Packing Tips

One of the biggest mistakes many people make when they move is to “take everything”. It may be hard to do but if you will take the time to evaluate what you really want in your new home, it will save you a lot of aggravation when you unpack and settle in...

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