Weekly Property News
05 August 2011
FROM THE EDITOR

Dear Reader

Yesterday we saw the markets plummet! The JSE dropped 3,1% and more than 900 points. This leaves a fear that the USA is starting yet another recession. On the other hand there is no stopping gold. The metal shot up to another fresh high yesterday.

The rand is still trading strongly although it also weakened yesterday. The question now; Is the strong rand slowing down property sales to foreigners?

I am very concerned at the ongoing pessimism in the property market at the moment, particularly among economists who seem to be stuck in a negative groove. Unfortunately such gloom always tends to get more media coverage than any good news, and thus more buy-in from the public, so it can all too easily become a self-fulfilling prophecy. The truth is that there are a great many positive indicators for property at the moment, and our industry should be reinforcing and underlining these in order to strengthen the recovery. Consequently, I really think it is time now to let the August winds blow away any negativity, stop sitting on the fence and get involved in the market with a positive attitude. We have it in our power to create our own happy ending instead of allowing the doomsayers to talk us into disaster.” Berry Everitt, Chas Everitt International Property Group.

Send you viewpoints to news@cyberprop.com

Headlines: House price growth lost momentum in July, dipping to 2.4 percent year-on-year (y/y) from 2.9 percent y/y in June, according to the latest report from Standard Bank on residential property prices. In an environment of moderating economic growth, muted credit growth and struggling employment growth, Standard Bank maintains the view that growth in the residential property market will remain at low single digits in 2011 Property's slide continues.

The FNB House Price Index has experienced a mild acceleration in its year-on-year growth rate in recent months. From a June revised rate of 3.1 percent, the July growth rate moved to 4.6 percent, the highest rate of growth since August 2010. On a month-on-month basis, average price growth was virtually unchanged at 0.73 percent, while the average price of properties transacted in the index was R815 511. Price declines slowing.

Market news: Steve Murray, editor of Real Trends and an international real estate expert with 33 years of experience in the residential brokerage industry believes that the vast majority of housing consumers will continue to seek the services of sales professionals as they are also faced with complexity in the purchase and sale of a home. He points out that the cost of failure in buying or selling a home is far higher than in most other ‘online’ transactions and believes that this may well keep the level of consumer usage of real estate professionals at levels near that of today. What the future holds

Enjoy!
The editor

In This Issue
Featured Property

Ermelo, Mpumalanga, South Africa
House
- Bed: 4 | Bath:2.5


CyberProp Property Count: 05/08/2011

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Properties for Sale: 145,312
Properties to Rent: 10,363

Local News

Property's slide continues

House price growth lost momentum in July, dipping to 2.4 percent year-on-year (y/y) from 2.9 percent y/y in June, according to the latest report from Standard Bank on residential property prices...


Price declines slowing

The FNB House Price Index has experienced a mild acceleration in its year-on-year growth rate in recent months. From a June revised rate of 3.1 percent, the July growth rate moved to 4.6 percent, the highest rate of growth since August 2010...


Ongoing pessimism in the property market

I am very concerned at the ongoing pessimism in the property market at the moment, particularly among economists who seem to be stuck in a negative groove...


What the future holds

Real Trends, a leading trends and consulting firm based in Castle Rock, Colorado, is in its 25th year and, by exclusive invitation from RE/MAX of Southern Africa, Steve Murray, editor of Real Trends and an international real estate expert with 33 years of experience in the residential brokerage industry, will be visiting South Africa in August to share some of his property insights...


Foreigners stop buying SA

The FNB Estate Agent Survey for the second quarter continued to point to agents surveyed perceiving an anaemic pace of buying of South African residential property by foreigners...


Government stimulus for housing sector could lead economic recovery

Although the United States has temporarily bought themselves a reprieve by extending the debt ceiling on its debt payments, the current precariousness of the western world’s economies is still creating uncertainty on a scale never before seen in his 19 years in property, says Tony Clarke, MD of Rawson Properties – and, he says, the South African property market cannot avoid being affected by this...


Crunching the numbers

Crunching the numbers and looking at property statistics is all part of the game, says Adrian Goslett, CEO of RE/MAX of Southern Africa. According to the June FNB House Price Index there has been a minor acceleration to 2.6% year-on-year growth from a revised 1.8% in May...


How first-time buyers can turn dreams into reality

Just a few years ago, people trying to buy their first homes were bemoaning the fact that soaring house prices and high interest rates were shutting them out of the market...


More people, more opportunity

The trends inherent in the latest population estimates released by StatsSA spell good opportunities that some clever property developers and investors can already scent.
According to these figures, SA now has a population of just over 50m, about a third of which is under 15, and 7% of which is over 60...


Key factors influencing buying decisions

It has been said many times before that buying a house is likely to be one of the biggest financial investments anyone can make in their lifetime. It makes sense then that the property which people own makes up a large portion of their wealth...


WESSA- at odds with hotel development in Kruger National Park

WESSA’s origins can be traced back to 1926 when it was instrumental in bringing about the formation of the Kruger National Park and Addo Elephant National Park...


Cape Town - CBD property market steadily recovering from recession

Following recent reports of an alleged property slump in Cape Town’s city centre, Life Residential, a specialist inner-city residential property company in the Mother City, shares their perspective on the property market in the CBD...


Quentin Miller - Upgrade the home you're in

Although it has been argued that in these tough economic times it may be less expensive to sell your home and to move to a new one rather than to upgrade, all his experience indicates that there is no better way to get the home you really want (and need) than by upgrading the one you already live in, says Cape architect, Quentin Miller...


False misreprentation in a contract

Anton du Plessis, CEO of Vineyard Estates, has drawn attention to a recent High Court case (involving an auctioneer and Netluk Boerdery cc and Another) in which the plaintiff’s plea that he had not fully understood the contract was taken as grounds for allowing him to opt out of it...


Seller must keep in full touch with the transfer process

Another High Court case has shown again that, although a property seller appoints a conveyancing attorney to handle the legal and accounting aspects of his deal, he must continue to take full responsibility for the situation - and to check all the details...

Focus On

Ermelo, Mpumalanga, South Africa

Long before the town was formally established, the site was a much frequented outspan on the transport route between Lydenburg and Natal. Because the area is well watered and dotted with freshwater lakelets it soon attracted settlers...

>> Properties in Ermelo
>> Properties in Mpumalanga


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In the Area

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

  • Bloubergstrand
  • Parkview
  • Mooinooi
In the area 1 - Bloubergstrand

The upper end of the Bloubergstrand property market has barely felt any recessionary effects, says Caron Leslie, Broker/Owner of RE/MAX Property Associates, which operated in Bloubergstrand and surrounding areas...


In the area 2 - Parkview

The appeal of living in the ‘village’ of Parkview

A strong focus on safety and security is paying off for homeowners in the plush Johannesburg suburb of Parkview, where property prices have exhibited extraordinary resilience over the past few years...


In the area 3 - Mooinooi

The property market in and around Mooinooi is brisk these days, thanks to the rising platinum price and expansion of the local mining operations...


To the editor

Send your viewpoints to news@cyberprop.com


Local news continue

First-time buying drives up rentals

There is not enough rental property in Pretoria’s trendy Moreleta park area to meet demand, and the returns on sectional title properties here have risen to about 8% as a result...


Westside Industrial Park sold out before it launches

Westside Industrial, a 5 factory development within Westlake precinct, has been fully sold out before its official launch by Quagga Property Brokers. Three of the five units, ranging in size from 185m² to 210m², have already been let on long term leases and will be ready for occupation in Jan/ Feb 2012...


Ditasa enables PDls to receive international real estate qualification

In a bold move to further empowerment and transformation in SA’s real estate industry, Ditasa (the Development Institute and Training Academy of SA) has just launched a four-year initiative to train 350 previously disadvantaged individuals as Certified Residential Specialists...


Intersect appointed to manage Icon building in Cape Town CBD

Intersect Sectional Title Services, the sectional title specialist subsidiary of the Spire Property Group, is proud to announce their appointment to manage the Icon Building on the Foreshore in Cape Town...


Changes at SSETA and EAAB charted a positive course ahead

Sandy Walsh, the outgoing head of training at the Western Cape Institute of Estate Agents says that the many changes and restructurings that have taken place in the Estate Agency Affairs Board and at Services SETA (which were outlined at the “successful” EAAB Stakeholders Awareness Seminar on 8th July and the 21st July “Taking skills beyond 2010” seminar) have charted a positive and optimistic course ahead for SA residential property...

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