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Weekly Property News
Friday, 09 July, 2010 |
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FROM THE EDITOR |
Dear Reader
As we enter the last few days of the World Cup the Reserve
Bank governor Gill Marcus have us all guessing on the outcome
of this month's monetary policy meeting. The general feeling
is that the repo rate will stay unchanged. "I also believe
that it will remain unchanged for most of the remainder of
the year." This according to the Chairman of Seeff Property
Services, Samuel Seeff.
Property owners would like to see the interest rate come
down with at least half a bonus point. I suppose we will have
to wait and see what happens. Maybe we must invest in Paul
the octopus who choose Spain as the victor over Germany in
Wednesday's semifinal match.
Headlines: The South African construction industry
is under siege and experiencing unfavourable business conditions
at present, says Cees Bruggemans, chief economist of First
National Bank. Bruggemans was reacting to the FNB Civil Construction
Index, out on Tuesday, which revealed a modest increase from
an index value of 25 in the first quarter this year to 33
in the second quarter. Construction in crisis
Market news: Jacques du Toit - South African home
values increased further in June 2010, but there are early
indications that year-on-year price growth may peak in the
near future. The average nominal value of small, medium and
large houses for which Absa approved mortgage finance (see
explanatory notes), increased by a weighted 14,8% year-onyear
(y/y) in June, which brought the average price of a middle-segment
house to about R1 083 700. In May this year nominal home values
in the middle segment of the market increased by a revised
14,7% y/y. House price growth showing early signs of
nearing a peak
Enjoy!
The editor
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In
This Issue |
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Featured
Property |
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Western
Cape, Cape Town, Constantia
Exceptional brand new home offering astounding
features and abundant spaces, situated in quiet oak-lined
avenue... |
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Local
News |
| Construction
in crisis |
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The South African construction industry is under
siege and experiencing unfavourable business conditions
at present...
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| House
price growth showing early signs of nearing a peak |
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South African home values increased further in
June 2010, but there are early indications that
year-on-year price growth may peak in the near
future. The average nominal value of small, medium
and large houses for which Absa approved mortgage
finance...
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| Interest
rates to remain steady - Seeff Chairman |
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Chairman of Seeff Property Services, Samuel Seeff,
believes that the outcome of the next Monetary
Policy Committee meeting to be held on 21 and
22 July will see the interest rate remaining unchanged...
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| Conditions
favourable for steady growth |
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If an estate agency is seen to be growing fast,
it will attract top level agents to it –
and these will help it to expand further, says
Mike Greeff, CEO of Greeff Properties...
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| Hospitality
property sector's hopes for World Cup spinoffs were too
high |
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With the World Cup now approaching its final
phase, it is possible to assess its impact on
the hospitality and property sector, and, says
Lanice Steward, MD of Anne Porter Knight Frank,
it has to be said that the likely benefits to
these sectors were exaggerated, not only by FIFA
for also by some of the spokespeople for the property
sector...
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| Unscrupulous
letting agents to be dealt with |
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The letting industry in South Africa has traditionally
been somewhat of a stepchild within the larger
real estate business. This status has led to lapses
in regulation and has allowed maverick operators
to exploit both landlords and tenants...
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| Paul
Henry of Rawson Developers takes up the cudgel on bereaucratic
delays |
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Cape property developers have reached a stage
where, if there is not soon a drastic change in
the speed with which development plans obtain
approval – or are rejected – and a concomitant
speedy method of dealing with objections - they
will have to ‘close up shop’, said Paul
Henry, Managing Director of Rawson Developers...
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| New
road circles a test for drivers |
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East London motorists driving on Nahoon’s
Old Transkei Road can heave a sigh of relief as
the reconfiguration of the “dangerous”
traffic circles nears completion...
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Focus
On |
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Cape Town, Western Cape, South Africa |
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Cape Town - the Mother City of South Africa.
Cape Town is a city of many attractions, a mix
of cultures, landscapes, architecture, lifestyles,
customs and scenery. Cape Town offers you mountains,
beaches, sea, rivers, wind and a wonderful climate...
>>
Property in Cape Town
>>
Property in the Western Cape
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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;
- Benoni
- Braamfontien
- Constantia
| In
the area 1 - Benoni |
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New sparkle in Benoni market
Top schools, excellent retail and sporting facilities
and a relaxed lifestyle in a well-run town have
made Benoni the “jewel of the East Rand”
and underpinned local housing demand...
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| In
the Area 2 - Braamfontien |
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Braamfontein has had so many positive changes
that the area’s revitalization is no longer
just a ‘long term dream’, the change
can now be seen on the ground, one only needs
to walk the streets to notice- up market new hotels
and chic bars that have opened their doors on
Smit Street, a piazza has been created on Melle
Street, trendy new shops are starting to line
De Beer Street, parks have been revitalized, stylish
restaurants have been created on De Korte as well
as on Juta Street....
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In the Area 3 - Constantia
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There is some truth in the adage bandied about
by the Cape property agents which says that Constantia
will usually be the last area to be hit by a recession
and one of the first to emerge from it and right
now Constantia is showing signs of becoming an
excellent performer in the property market once
again...
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To
the editor |
Share your comments with us by sending
it to news@cyberprop.com
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News
from Chas Everitt International Property Group |
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HOAs can solve the storage issue
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The homes in townhouse developments and
other gated communities usually all have
their own garages or carports, but there
is often also a demand for additional permanent
parking or storage areas for trailers, bikes,
boats and caravans...
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CyberProp
Property Count: 09/07/2010 |
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