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Weekly Property News
Friday, 06 August, 2010 |
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FROM THE EDITOR |
Dear Reader
A shortage of fresh potatoes hit South Africa countrywide.
This is due to adverse climatic conditions which will affect
quality, supply and in the end the cost for this product.
“The continuous adverse weather patterns, particularly
the heavy rains early in 2010, resulted in major delays in
harvesting," frozen foods manufacturer, McCain Foods
(SA) said in a statement on Monday.
When will the property industry be able to say “a shortage
of fresh houses”?
Headlines: The FNB Estate Agent Survey for the second
quarter of 2010 showed agents pointing to weaker demand than
that of the previous quarter. Of concern, too, was a sharp
up-tick in the estimated average time of a property on the
market, from a previous quarter’s 12 weeks and four days
to 17 weeks and one day. This suggests that price levels have
got further out of touch with reality. The implications could
be that prices begin to come under pressure, and indeed in
June we have seen a slowing in the pace of acceleration in
house price growth. Prices to fall again?
Market news: Following relatively pedestrian growth
in the median property price over the past few months, July
marked the first month of real growth in the sector. The median
house price increased by a further 0.8% m/m in July (2.3%
m/m in June), marginally above the average monthly increase
of 1.2% recorded since the start of the year, signalling an
improvement in both demand and supply fundamentals. Thus,
the median house price increased to R597 160 from a revised
R592 500 in June, representing an increase of 7.3% y/y from
3.2% y/y in June. Although this increase is sharp, it needs
to be borne in mind that this improvement is from a very low
base this time last year, when the median price contracted
by around 5%. In real terms, the median price jumped to 3.2%
y/y from -1.0% y/y in June, in part also due to the falling
inflation profile. Standard Bank expects inflation to moderate
to 3.9% y/y in July from 4.2% y/y in June. Confidence
sees market improving
Enjoy!
The editor
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In
This Issue |
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Featured
Property |
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Baronetcy,
Plattekloof, Western Cape
Lifestyle Estate with Care Facilities
Offering stylish living in Single Title Houses, Sectional
Title Apartments and the Assisted Living units, this development
offers the unique opportunity of an independent lifestyle
with the option of utilising the care facilities as and
when required... |
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CyberProp
Property Count: 06/08/2010 |
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Local
News |
| Confidence
sees market improving |
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What is the latest? Following relatively
pedestrian growth in the median property price
over the past few months, July marked the first
month of real growth in the sector...
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| Prices
to fall again? |
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The 2010 World Cup has come and gone. It has
brought many potential long term benefits for
SA, emanating from dramatically improved perceptions
of the world regarding the organizational capabilities
of the country...
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| Home
truths about home pricing |
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Oddly enough, the last thing most home sellers
want to think about when their property is not
attracting offers is price - even though they
themselves may be extremely value conscious when
looking at homes to buy...
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| When
to start saving for your first home |
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Saving up a deposit for your first property brings
great financial rewards.The earlier you start
saving, the better, but even if you missed the
opportunity to start young, it is never too late,
says Adrian Goslett, CEO of RE/MAX of Southern
Africa...
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| Prospects
in the buy-to-rent residential market’ |
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Property managing agents are these days increasingly
asked about the prospects in the buy-to-rent residential
property market, says Michael Bauer, General Manager
of IHFM, which is one of South Africa's fastest
growing sectional title management companies...
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| The
view's just part of the package |
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Homebuyers are accustomed to the idea of paying
a premium for a property with a view, like a "house
on the hill" or an apartment overlooking
the sea...
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Focus
On |
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Search
For Properties |
Search for property in your area
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In
the Area |
The areas we are going to take a closer look at this
week are;
| In
the area 1 - Western Cape |
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Western Cape property is losing steam
The Western Cape residential property sector
appears to have outperformed the national residential
market, having recorded average house price inflation
of 13.8% year-on-year for the 2nd quarter of 2010...
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News
From Nationlink Plattekloof |
| Giving
Luxury a New Definition |
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The French ambience of Mont Matre permeates the
Vue De La Ville Lifestyle Estate in the upmarket
Baronetcy suburb of Plattekloof, with the same
panoramic views of Cape Town & Table Mountain
as the Sacre Coeur has of Paris in France...
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Local
News Continue |
| Make
it look bigger |
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The latest oobarometer stats reveal that the
average purchase price growth among first-time
buyers remains strong at 12.1 percent in June...
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Upcoming
Events |
This event is not to be missed
For more information email:
artinthebigtop@vodamail.co.za
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