Weekly Property News
10 February 2012

Dear Reader

Jobs! Jobs! Jobs! Together with a need for higher growth is what South Africa need President Zuma said yesterday in his state to the nation address during the opening of Parliament. These two factors will reduce and ultimately eradicate poverty and inequality. What we in the real estate industry won’t give to see that this happen!

Last week we placed a report, “The Rode report”, by one of the top property economist Erwin Rode. He suggested that South African house prices is overvalued and that it will take many years to fall in line with actual values. This report truly had the real estate industry upset. If you’ve missed it read more in, Is minus 24% the new residential skim milk?

Headlines: There is reason to be optimistic about the future performance of commercial real estate assets in South Africa.
This is according to Malcolm Horne, chief executive officer of Broll Property Group, who is confident demand for properties to rent in the nation will pick up, thereby reducing the amount of vacant space on the market. A yearly report published by the company predicted income from commercial properties in South Africa will rise, while capitalisation rates will become steadier. Positive outlook' for South Africa commercial property

Market news: Standard Bank's median house price growth hobbled to 1.6 percent in January 2011, according to the bank's monthly data. This is from the revised growth rate of 0.2 percent in December year on year (y/y). Growth in real terms, utilising the bank's forecast for CPI in January of 6.2 percent, remained in negative territory. Real home prices falling fast

The editor

In This Issue

Boschenmeer, Paarl, Western Cape
Golf Estate
Bedrooms 4 | Bathrooms 4.5
Notes: This well finished home is situated on a big plot, offering ample space for kids or gardening...

CyberProp Property Count: 10/02/2012

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Properties for Sale: 136,268
Properties to Rent: 10,056

Local News

Much about jobs but more about infrastructure!

“More of the same”, I guess is a good description of the President Jacob Zuma’s speech. Promises and promises and jobs and jobs - same old story. However, there are a few differences from previous speeches; mostly for the good!

'Positive outlook' for South Africa commercial property

There is reason to be optimistic about the future performance of commercial real estate assets in South Africa...

Mortgages not viable - SAIRR

About 83 percent of the nearly 14-million households in the country do not earn enough to qualify for bank housing loans, according to the latest SA Survey, published by the South African Institute of Race Relations (SAIRR) last week...

Real home prices falling fast

Standard Bank's median house price growth hobbled to 1.6 percent in January 2011, according to the bank's monthly data.

Is minus 24% the new residential skim milk?

Erwin Rode and Associates, property economists and producers of what has popularly become known as ‘the Rode report’ have ruffled some real estate feathers with their latest missive...

Ask the right questions

As the biggest investment decision many South African consumers will ever make, purchasing property is not one to be taken lightly and it is important for buyers to ask the right questions before committing to such a large investment, says Adrian Goslett, CEO of RE/MAX of Southern Africa...

It's Always a Good Time to Buy

Leapfrog Property Group regarding advice from Erwin Rode of Rode and Associates for consumers to rent instead of buy

Deadly sins of selling

While the property market conditions continue to improve and more buyers gain access to finance, sellers may still find that the market remains a challenging one in which to sell a home, says Adrian Goslett, CEO of RE/MAX of Southern Africa...

Six misconceptions about property finance

Information on how to apply for bond finance to help purchase a home has been disseminated by SA’s banks and bond originators in a steady stream for some years now – and yet, says Rob Lawrence, national general manager of Rawson Finance, the bond originators, he and his team find themselves daily dealing with false assumptions which often reveal a deep-rooted ignorance as to the rules of property purchasing and how to finance these transactions...

Lesson to be learned from property billionaires

It is, says Jason Lee, national head of Rawson Commercial and author of two top selling books on property investment, “Making money out of property in South Africa” and “Fast Forward Your Retirement Through Property”, revealing how many of the world’s wealthiest people have a high percentage of their assets in property...

Take care when choosing a rental agent

With finance for residential property purchases still hard to come by (in some less affluent areas 70% of bond applications are still being turned down), demand for rented property has improved greatly and, says Lanice Steward, MD of Anne Porter Knight Frank, the Cape Peninsula estate agency, buy-to-let investors are again evident throughout the Cape...

Pretoria cut-off notices dumped at roadside

Dumped final demand notices for municipal accounts have been found west of the city. Claremont resident Amelia van der Merwe said she was perturbed when she saw them dumped by the roadside in Malie Street on Monday...

A new era in the property marketing business

Well known RealNet Garden Route directors, Gerhard Roux and Gerhard Dreyer, have entered into a new era in the property market by joining forces with RE/MAX Outeniqua as co-owners...

Focus On

Boschenmeer, Paarl, Western Cape

Amid the picturesque Winelands of the Western Cape's historic Paarl/Franschhoek Valley, framed by the majestic Drakenstein Mountains and the famous Paarl Rock, lies an estate beyond compare...

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In the Area

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

  • Boschenmeer
  • Johannesburg
In the area 1 - Boschenmeer

Chas Everitt is “the one” for Boschenmeer

The home owners’ association (HOA) of the prestigious Boschenmeer golf estate near Paarl has appointed the onsite Chas Everitt International office as its single “preferred agency” for the next two years...

In the area 2 - Johannesburg

Joburg Gauteng auction highlights

Land banking and a prime node office opportunity are some of the key assets featuring in the next multiple commercial property auction in mid February...

To the editor

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

Local news continue

Arbitration rather than litigation for sectional title disputes

The growing popularity of arbitration rather than litigation in sectional title property disputes stems from its being both less expensive and faster, says Michael Bauer, GM of IHFM, the property management company...

High St Kicks Off For 2012

The High St Auction Co has announced that its first auction of 2012 will be held on 29 February at Summer Place in Hyde Park at 12h00 and will feature an array of commercial, industrial and residential properties that will come under the hammer...

Warning to property sellers to keep promises

Estate agents throughout South Africa have been warned by several branches of the Institute of Estate Agents that the new Consumer Protection Act makes is essential that there are no ambiguous or deceptive phrases in their promotional literature or the sales documents...

Pitfalls for private sellers

There will, says Tony Clarke, MD of Rawson Properties, always be one or two property sellers who, rightly or wrongly, think the commissions paid to estate agents are unjustifiable...

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