Weekly Property News
06 May 2011

FROM THE EDITORS

Dear Reader

While ABSA is denying the claims that jobs are at risk there is no denying that things are heating up between the varies political parties before the coming up elections later this month.

What is the expectations for the real estate industry over the next couple of weeks? Do you think that the month of April with all its public holidays and now the friction in the political scene can influence the property market? Or does this form part of a property circle of boom, slump and recovery? Send your viewpoints to news@cyberprop.com

Headlines: South Africa is experiencing a property market correction. The question is whether it is or has been on the same scale as has been experienced in the USA during the last 3 years. The American dream has in some states unfortunately changed into an American nightmare. Only a certain sector of the South African property market is experiencing a correction akin to the "American nightmare" of a devaluation of property value up to 50% and has predominantly been visible on two fronts. South African property corrections

Market news: The April 2011 FNB House Price Index showed further mild acceleration of 2.2 percent in year-on-year growth compared to March’s revised rate of 1.2 percent. This is the second successive month of mild acceleration in year-on-year house price growth, an event which we believe is the lagged result of a further brief flurry of interest rate cutting by the Reserve Bank (SARB) late in 2010. Those rate cuts caused a mild uptick in residential demand which may have been more than just the usual summer seasonal factors. Your property worth less

Enjoy!
The editor

In This Issue
Featured Property

Western Cape, Franschhoek
House
- Bed: 4 | Bath: 4 | Garages: 2
This superb home is situated in a secure lifestyle estate in the heart of Franschhoek...

Local News

South African property market corrections

South Africa is experiencing a property market correction. The question is whether it is or has been on the same scale as has been experienced in the USA during the last 3 years...


Your property worth less

The April 2011 FNB House Price Index showed further mild acceleration of 2.2 percent in year-on-year growth compared to March’s revised rate of 1.2 percent...


Residential Property Viewpoint: Sustained recovery at risk

Standard Bank's median house price recorded a growth rate of 3.4% y/y in April 2011, from 2.9% y/y in March 2011...


Investing in the current market

While the South African property market is showing strong signs of recovery, prevailing market conditions including the low interest rates and the range of well-priced properties on offer makes it an ideal time for buyers to invest...


Budget better with fixed-rate loans

Lower-income families and those on fixed pensions should now seriously consider fixing the interest rate on their home loans...


Interest rates are likely to remain unchanged - Samuel Seeff

Ahead of the next Monetary Policy Committee meeting, scheduled for the 10th May, interest rates are likely to remain at its current level and that, in line with leading economists, the possibility of an interest rate hike in the last quarter of the year remains a probability...


Your bond is still the best saving mechanism

South Africans typically have a bad savings culture, and consumer behaviour shows a tendency by South Africans to rather ‘borrow to buy’ instead of saving up for a purchase...


How can I make my flat look prettier on a budget?

This is a common question among flat owners. Whether you own your own flat or whether you are renting a unit, you can make internal improvements without breaking the bank or losing your "investment" when the lease runs out...


Assistance schemes for homebuyers

The global financial recession, says Sean McCauley, Rawson Properties director in charge of their northern territory, has been countered in a variety of ways by governments but the last three years have shown that one of the most effective has been the assistance schemes to first time homebuyers...


Top industry figure joins Chas Everitt in E Cape

The residential market in the Eastern Cape is firmly in recovery, with more sales taking place, shorter listing times and higher rental demand that will no doubt stimulate more investment...


Investing in your Golden Years

Stanbury Park Retirement Village, situated in the prime real estate location of South End, Port Elizabeth is the latest addition to the Echo Foundation family. Echo Foundation is a non-profit organisation housing over 1300 residents within its twelve villages and frail care facilities...


Stop the noise from next door

Anyone who’s ever been to a rock concert can attest to the fact that loud noise not only affects your hearing but also tends to raise your stress levels and can make you very tired and irritable...


Cut power due to default?

If included in the Conduct Rules of the Body Corporate; can electricity be disconnected if still unpaid and the owner has been given notice of the disconnection?


CBM report shows that rent defaulting is now high

Figures recently released in the Credit Bureau Monitors’ latest report show clearly that buy-to-rent property investors have to be extremely careful in selecting tenants as the risk of ending up with a defaulting rent payer is now very high...


Landlords, heed the CPA!

The impact of the Consumer Protection Act (CPA) on the manufacturing, supply and distribution of goods and services is fairly clear - however, its effect on landlords and leases of immovable property requires scrutiny...

Focus On

Franschhoek, Western Cape, South Africa

Given to fleeing Huguenots in 1688, it was found that the climate is very similar to that in France, the settlers planted vines and today these wines are consumed throughout the world. Various attractions and historical sites...

>> Properties in the Western Cape
>> Properties in Franschhoek


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;

  • Weltevreden Park
  • South Coast
In the area 1 - Weltevreden Park

The Johannesburg suburb of Weltevreden Park, which means well satisfied, lies in the heart of Roodepoort. This is a fairly large suburb and property here is mainly in the form of complexes and gated communities...


In the area 2 - South Coast

Is the South Coast reinventing itself?

Interest in property on the KwaZulu-Natal South Coast appears to be picking up with reports of sales increasing significantly since November 2010...


To the editor

Share your comments with us by sending it to news@cyberprop.com


Local News Continue

The role of smart cities in driving prosperity

The growth of smart cities – and whether or not SA cities are keeping pace with their global counterparts – will be in the spotlight at the 43rd annual SAPOA International Convention and Property Exhibition, sponsored by Nedbank Corporate Property Finance, taking place in Cape Town in May...


Madiba building revamped

The refurbished Chancellor House, where former president Nelson Mandela and Oliver Tambo had their law office in Johannesburg in the 1950s, was unveiled on Wednesday...

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Strong HOA needed for the success of a scheme

According to Frans Stander, who has ten years experience in the management of residential and office estates of the kind he is now running at Lombardy Estate and Health Spa on the eastern side of Pretoria, the success of such estates is to a large extent dependent on the performance of their homeowners’ associations...


Hedge funds set to gain from new SA pension scheme laws

The hedge fund industry in South Africa is anticipating a boost in the near future following a revision of laws that has paved the way for allocation of a bigger proportion of the investment by investors...


CyberProp Property Count: 06/05/2011

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Properties for Sale: 141,192
Properties to Rent: 9,883

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