Weekly Property News
10 August 2012
FROM THE EDITOR

Dear Readers,

While property pricing and market conditions currently favour buyers, many are still struggling to meet the lending criteria of financial institutions. In light of this, many buyers are choosing to partner with a friend or family member to purchase property together.

In most of the rental portfolios managed by our franchisees, rental increases of over 7% are still being achieved for our landlords,This is admittedly a drop on the 10% that we were achieving previously but it is nonetheless satisfactory in the current market.

"The key to success in buy-to-let investment,” is to find an agent who is genuinely capable of carrying out thorough credit and employment checks and keeps a very close eye on rent payments and the condition of property.

Capital Gains Tax is not nearly as “scary” as it is perceived to be but an awareness of the calculation of your capital gains at the time of buying a property should be considered.

Enjoy!
The editor

 

In This Issue


Fish Hoek, Western Cape, South Africa
Residential - Bedrooms: 4 | Bathrooms: 6 | Garages: 2
An excellent work from home property with an abundance of accommodation and offers beautiful modern finishes throughout and in immaculate condition
CyberProp Property Count: 3/08/2012

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Properties for Sale: 128,407
Properties to Rent: 10,538

News

Latest Property Clock

Knowledge Factory’s Property Clock, is a graphic representation of the South African residential real-estate market. Various datasets including interest rates, supply/demand cycles, finance availability, construction and rentals are analyzed. Adjusted monthly, this high-level view tracks trends in this important sector of the economy.


Minister Sexwale now on the 'right path' towards rectifying shoddy workmanship in low cost houses

Paul Henry, Managing Director of Rawson Developers, one of the Western Cape’s most active and successful residential property developers (this year they will deliver some 600 units altogether) has welcomed ‘the new realism’ shown by the Minister of Human Settlements, Tokyo Sexwale.


Slow but steady growth in buy-to-let investors now evident countrywide

Repeated statements from the Rawson Property Group’s franchisees throughout South Africa to the effect that they are seeing a slow but steady increase in the residential property market’s..


Free Market Foundation's proposals for land reform make sense

The acrimonious debate on land reform issues in South Africa and the frequent calls from left wing organisations for immediate handovers with little or no compensation have done a great deal to undermine international investment confidence in South Africa, says Bill Rawson, Chairman of the Rawson Property Group.


Tokyo Sexwale's taking over of the EAAB offers the first real hope of a much needed improvement in this body

The real estate property development industry has welcomed “with a real sense of relief” the news that Minister Tokyo Sexwale’s Human Settlements Department has taken over the Estate Agency Affairs Board and has called in the Special..


The pitfalls lying in wait for a buy-to-let investor can be avoided if the agent knows his job

Ongoing publicity recently given to the slow but steady return of investors to the buy-to-let residential property market is certainly not estate agency hype and can be shown by his and many other estate agency groups to be taking place with growing momentum, says Bill Rawson, Chairman of the Rawson Property Group


Labor Laws Cut Hiring as South Africa Unemployed Swell

Joe Mtwazi stood on the corner of Rose and Strand streets in Cape Town, signaling to passing vans that he’s available for hire. A pickup truck stopped and he joined a scuffle of about 10 men for slots on a building crew, emerging unsuccessful.


It’s business as usual, despite the EAAB debacle

Things came to a head with the Estate Agency Affairs Board (EAAB) last week when Minister of Human Settlements, Tokyo Sexwale, decided to place the Board under administration. The Minister has also requested the Special Investigation Unit to look into the board’s dealings.


News from Chas Everitt/ How to get the best out of a home inspection

There’s no argument that paying to have a home inspected by a professional before you buy it is money well spent* if the property turns out to be problematic.


News from Chas Everitt/ Prime Plett stands selling at half price

If you’ve ever wanted to own a property in Plettenberg Bay, now’s the time to buy one, with the last stands available in the beautiful Schoongezicht Country Estate being sold at half price.


News from RealNet/Warm up winter by getting into better financial shape for summer

Winter is the time when most local authorities raise their rates as well as their tariffs for water and electricity supplies, and with the last salary increase seeming like a distant memory, it can be a very tough time for homeowners.


Capital Gains Tax can be reduced

Capital Gains Tax is not nearly as “scary” as it is perceived to be but an awareness of the calculation of your capital gains at the time of buying a property should be considered, says Lanice Steward, MD of Anne Porter Knight Frank.


The pros and cons of property partner purchases

While property pricing and market conditions currently favour buyers, many are still struggling to meet the lending criteria of financial institutions. In light of this, many buyers are choosing to partner with a friend or family member to purchase property together, says Adrian Goslett, CEO of RE/MAX of Southern Africa.


Propell offers a new overdraft facility product to the bodies corporate market

Following on from the successful launch of their Arrears Funding Product, which has been very well received by the market, Propell, South Africa’s leading levy funding and collections company, has launched their Overdraft Facility Product to Bodies Corporate


Sectional Title - Understand insurance, extensions, the ombudsman and more

Sectional title has become one of the most popular forms of property ownership in South Africa.  But do buyers really understand the rules governing and protecting them once they move in?

Focus On

Fish Hoek , Western Cape, South Africa

In 1926, the 12 000 year old remains of a prehistoric man were discovered in a cave (used for shelter by Palaeolithic man) in Fish Hoek. It marked this sleepy coastal town forever as a historical landmark and popular place to go for easy living in South Africa.

>> Properties in Fish Hoek
>> Properties in Western Cape


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In the Area

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

  • Western Cape
  • Hout Bay
  • Fish hoek
  • Western Seaboard
  • Pietermaritzburg
In the area 1 - Western Cape

At a recent Institute of Estate Agents rental seminar run by Attorney Marlon Shevelew, who specialises in rental property litigation, the question arose:  “Who is actually the rental agent’s client?”


In the area 2 - Hout Bay

The residential property market is becoming more active and an illustration of this is what has happened in Hout Bay where, during the month of May, there was a recorded amount of R79 457 000 in residential property sales as opposed to R43 345 000 in April and R41 570 000 confirmed sales in June of this year.


In the area 3 - Fish Hoek

The Cape's off-season as far as property is concerned is not dampening buyers' enthusiasm for residential and investment homes in Fishhoek


In the area 4 - Western Seaboard

Demand for rental property along the Western Seaboard currently exceeds the supply, says Caron Leslie, Broker/Owner of RE/MAX Property Associates, whose office services the Cape’s western coastline


In the area 5 - Pietermaritzburg

Although the demand for rental property in Pietermaritzburg continues to perform well, rental price increases have not been at the same levels that they were in previous years, says Pelham Henwood, Broker/Owner of RE/MAX Midlands, whose office services Pietermaritzburg and the surrounding areas. 


To the editor

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Local news continue

When levies are due

The financial stresses that many are experiencing now has led to a growing prevalence in rental delinquency in the areas her company serves, says Sandy Walsh, general manager for Anne Porter Knight Frank’s letting division which covers the Southern Suburbs, Hout Bay and the Atlantic Seaboard.


Can trustees be involved in tenant selection

The question that often comes up in sectional title schemes, is whether the trustees of the scheme are allowed to get involved in the letting of units in that scheme.  Are they able to influence the landlord in his tenant selection or prevent him from renting it out in the way he wishes?


GBCSA Convention confirms one of the world's top 20 speakers to line-up

The Green Building Council SA announces the addition of one of the top 20 conference speakers in the world, Rachel Botsman, to the keynote speaker line-up of the 5th annual GBCSA Convention and Exhibition -  23 - 25 October 2012.


SA's green business sector gains momentum

Much like in the United Kingdom, where the number of “green” products available in the market increased by 73%, within the space of one year - South Africa is starting to demonstrate a similar trend – that of a steady increase in available green products and services.


Rare snowfall stuns much of South Africa

JOHANNESBURG—People slowly came outside despite the cold wind Tuesday across South Africa, pointed their mobile phone cameras to the sky and opened their mouths to taste a rare snowfall that fell on much of the country.

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