Weekly Property News
11 May 2012
FROM THE EDITOR

Dear Reader

Most of us were told by our parents that if you cannot afford something you must no buy it. Is this the same with property? What will happen if you don't buy property?

Buying a property is a personal decision and you cannot let the market push you into buying a property. Yes, a real estate market like we are currently experiencing is good but buying a property can be a bit of a stretch to meet on the financial side. Best if all you cannot predict what is going to happen with the price of houses, interest rates etc. in the near future. However in answering the questions it does help if you know you are committed in a long term home ownership

A cooling real-estate market is good news for buyers because it's easier for them to negotiate a deal. But it shouldn't be the main reason that pushes you into your first home. In fact, buying your first home is a personal decision that you should make independent of what the market may or may not be doing.

Headlines: IT IS easy to understand why Human Settlements Minister Tokyo Sexwale is toying with the idea of creating a state housing company to assume responsibility for the government's housing programme. The programme is simultaneously one of this government's best achievements and one of its biggest headaches. Its success has really been extraordinary. The national deeds registry now officially records that 1,44-million houses were subsidised by the government, about 24% of the total number of registered residential properties. SA's housing stock has been increased by about a quarter, creating the beginnings of a property market in some of SA's poorest areas. The housing stock provides at least some families with the ability to start developing a capital base. From this point of view, the effort has been excellent. Professionalise SA housing

Market news: Well over 60% of home loans granted are currently going to people between the ages of 30 and 50, but there has been slight increase in the number granted to those between 30 and 40 and a decline in the number granted to those between 40 and 50 over the past six months. "An encouraging development in the past 12 months, however, is that the percentage of loans being granted to buyers between the ages of 20 and 30 - who are typically first-time buyers - has gone up substantially, from about 16,5% to almost 21%," says BetterBond CEO Rudi Botha. Younger buyers getting more bonds

Enjoy!
The editor

In This Issue

White River, Mpumalanga
House | Notes:
Modern double storey home in quiet area of golf estate overlooking waterway and fairway...


CyberProp Property Count: 11/05/2012

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Properties for Sale: 124,658
Properties to Rent: 10,172

Local News

Professionalise SA housing

IT IS easy to understand why Human Settlements Minister Tokyo Sexwale is toying with the idea of creating a state housing company to assume responsibility for the government’s housing programme...


Zille praises housing project

The Western Cape government praised a unique housing project in Franschhoek...


Strong likelihood that SA residential property is now into a recovery phase

Recent statements made by Lanice Steward, Managing Director of the estate agency Anne Porter Knight Frank, about the ten year cyclical nature of property and the strong likelihood that South African residential property is now into a recovery phase appear to be corroborated by the latest FNB Property Barometer published in the first week of May...


Property price decline accelerates

Price deflation in residential property continued last month, with nominal house prices in the middle segment down 4.9 percent year on year in April, Absa analyst Jacques du Toit said on Tuesday...


Younger buyers getting more bonds

Well over 60% of home loans granted are currently going to people between the ages of 30 and 50, but there has been slight increase in the number granted to those between 30 and 40 and a decline in the number granted to those between 40 and 50 over the past six months...


Africa tipped by Knight Frank as place to find fast growing values

Those who have kept track of the shifts in economic power and, therefore, in the growth or decline of property values have for the last five years or more reported a steady increase in capital flows, including property investment, to the Far East, the main recipients at the moment being China, India, Singapore, Hong Kong, Taiwan and Malaysia...


Welcoming foreign property ownership with open arms

Currently there is a small, but notable, trend establishing itself at present; British retirees are increasingly looking to South Africa in their golden years and this target could bolster much needed FDI...


British pensioners to boost the local property market

Some of the most expensive properties in South Africa have been bought by foreigners, it's true. It is also true that the Western Cape especially is home to small colonies of Germans, French and British expats...


Acknowleding the contribution of property development

Property developments represent an important benchmark of growth in free-market-driven economies such as South Africa and others, and as such, need to be duly recognised...


Listen to instinct when buying a home

When inspecting a house with a view to buying it, it is extremely unwise to deny or try to overrule your basic instincts: your fist gut reaction to the home, says Lanice Steward, MD of Anne Porter Knight Frank, should not be ignored...


Sectional title trustees offered an opportunity to gen on insurance and other matters

Sectional title trustees throughout South Africa simply have to update their information on insurance in sectional title schemes as it is affected by the new Sectional Title Schemes Management Bill...


Court decision asserts rights of servitude owners to access

"A servitude holder may not increase the burden to other users of a property servitude beyond the express and implied terms of such servitudes."


Focus On

White River, Mpumalanga, South Africa

The farming traditon of the community that settled here after the Anglo-Boer War has remained virtually unchanged to this day. Lord Milner, administrator of the defeated Transvaal, demarcated land on the 'Emansimhlope' - a tributary of the Crocodile River whose name translates from the Swazi as 'White Waters' - to demobilised Boer and British Anglo-Boer War soldiers...

>> Properties in White River
>> Properties in Mpumalanga


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In the Area

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

  • Johannesburg
  • Somerset West
  • Wapadrand
In the area 1 - Johannesburg

Global commercial real estate management and investment services firm, Jones Lang LaSalle, says South Africa needs an injection of direct foreign investment, particularly into its prime nodes to lift prospects of growth...


In the area 2 - Somerse5t West

Encircled by mountains with hills covered in vineyards, the Cape Town suburb of Somerset West makes an ideal hometown for those who appreciate the scenic beauty, wine and fruit, good food and sense of history, says Lee Siebert, Broker/Owner of RE/MAX Helderberg, which operates in Somerset West and surrounding suburbs...


In the area 3 - Wapadrand

Wapadrand, an exclusive suburb on the northern slopes of the Bronberg mountain range to the east of Pretoria, has proven its popularity among residents - and no more so than in the Wapadrand Estate, where more than 30% of owners have lived for more than a decade...


To the editor

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Local news continue

>> Bankers' return to Johannesburg homes market...

When bankers start showing signs of investing more money in their own homes - either by selling and buying bigger and better, or by extending and upgrading - its time to sit up and take notice, says luxury homes specialist Ronald Ennik...


Lift installation at Building Centre intrigues visitors

An exhibit that attracts much attention in the new Cape Town Building Centre at Northgate Estate, says the centre's public relations manager, Cheryl Neave, is a working installation of a single-seat stair lift marketed under the name "Lifta"...

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