Weekly Property News
13 January 2012

Dear Reader

It is now officially 2012 and everyone wants to know what the real estate market will look like for this year. As the year begins, potential home buyers and sellers throughout South Africa are anxious about how their properties will fare in this coming year. What is going to happen, when is it going to happen, and how does it affect me? That's the general chorus of questions every real estate agent has had to listen to during the past two weeks of the holiday season. We place the viewpoints of some of the country’s top real estate experts to help you to get answers to your questions;

2012 will be the “tipping point” in the real estate industry when online marketing gains more traction than traditional print and other forms of advertising. That’s the word from Berry Everitt, MD of the Chas Everitt International property group.

Based on the outlook for the global economy and domestic growth, inflation, interest rates and the consumer sector, house price growth is forecast to remain relatively low this year, while prices are set to decline further in real terms according Jacques du Toit, Senior Property Analyst at Absa Home Loans.

"We enter 2012 with a residential market showing strong supply relative to demand, and a mediocre economic performance at best. "Nothing obvious pops up to suggest that this will change radically in 2012." This according to FNB home loans strategist John Loos.

“Affordability will no doubt increase, but we do not expect this to translate into a surge in demand or home prices, as many households will still be determined to avoid any new borrowing until they have paid off much more of their existing debt.” Young Carr, CEO of Aida National Franchises.

The residential property market will continue to be driven in 2012 by the banks and whatever their appetite is for lending. So says. Rudi Botha, CEO of leading mortgage originator Betterbond.

Managing director of Anne Porter Knight Frank Lanice Steward said she had already seen increased interest in South African real estate those attending events at show houses compared with 2011.

2012 can be expected to bring a continuing escalation in consumer demand for better service, better information and better value for money, in real estate as well as other economic sectors, as the Consumer Protection Act becomes more widely known and applied, says Jan Davel, MD of the RealNet estate agency group.

The editor

In This Issue

Yzerfontein, Western Cape
Bedrooms 6 | Bathrooms 5
In a class of its own! A top billing lifestyle in yzerfontein.

CyberProp Property Count: 13/01/2012

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Properties for Sale: 137,490
Properties to Rent: 10,359

Local News

First timers spur home demand

FNB's Estate Agent Survey has found that an increasing number of first time buyers are able to produce the money required for deposits and transfer fees, leading them to become a more significant source of residential demand in 2011...

Home prices lowest in 4 years

The average price of a mid-segment house was almost 14 percent lower in November last year than it was in August 2007, according to Absa's latest property price indices released on Thursday...

Big changes coming in property marketing, says Everitt

2012 will be the “tipping point” in the real estate industry when online marketing gains more traction than traditional print and other forms of advertising...

Quality of business will be better this year, says Carr

It would be hard to over-estimate the effect that consumer sentiment has on the property market – and the past 12 months have been a bit of a roller-coaster ride for most South Africans, politically as well as financially...

Banks will still hold the reins in 2012, says Botha

The residential property market will continue to be driven in 2012 by the banks and whatever their appetite is for lending...

South Africa property market 'to improve in 2012'

The property market in South Africa could be set for positive growth this year, an expert has said...

Good opportunities but slow growth in 2012, says Davel

2012 can be expected to bring a continuing escalation in consumer demand for better service, better information and better value for money, in real estate as well as other economic sectors, as the Consumer Protection Act becomes more widely known and applied...

Property will remain weak

Demand for residential property slowed in 2011 and is not expected to improve in 2012, First National Bank said on Monday...

It's not just the weather warming up

The Cape’s western coastline continues to be one of the hottest nodes among investors, says Justus Brandt, Broker/Owner of RE/MAX Sunset Coast, whose office services the area from Paternoster to Elands Bay along the Cape West Coast...

Why not pool your resources for profit?

Interest rates are low. Prices are low. Affordability is up, So why aren’t consumers and investors snapping up properties at a rate of knots?

More 100% loans as buyers clean up their credit

A surprising number of home loans are now being approved at 100% of the property purchase price, according to the latest statistics from leading mortgage originator BetterBond, but this does not necessarily reveal a slackening of credit qualification criteria on the part of lenders...

Tips from a pro on how to invest in commercial property

Among those interested in investing in property there is a growing wish to be involved with commercial rather than residential property, says Jason Lee, National Manager of Rawson Commercial, which now has 15 franchises countrywide...

Get on the Net to maximize your chance of selling

If your agent does not advertise your home widely on the Internet, you are quite simply losing out on the best chance you have of selling it...

Choose your retirement scheme

When it comes to retirement, perhaps one of the most important decisions that investors will have to make aside from the type of retirement property they buy, will be the type of sale transaction they choose when purchasing that property, says Adrian Goslett, CEO of RE/MAX of Southern Africa...

Common defects to look for

Whether it is a first-time buyer purchasing their first home or a property investor looking to purchase an additional investment to add to their portfolio, buying property is a big investment, says Adrian Goslett, CEO of RE/MAX of Southern Africa...

The importance of good financial planning in Sectional Title

One of the fundamental functions of a body corporate is to establish a fund to meet necessary expenses - such as administration, management, repairs and maintenance of the common property. This fund should also include a reasonable provision for future repairs and maintenance...

New service for sectional titles and community schemes

Paddocks Club is an exclusive online learning community for people involved in sectional title and community schemes. Building on its growth in 2011, the Club is launching a private one-on-one legal consulting service in early 2012...

Estate agents cut commissions as economy bites

With property pundits predicting another few lean years ahead in the residential real estate market, it appears many agents are prepared to, or are, taking cuts in commission to make ends meet.

Focus On

South Africa, Western Cape, Yzerfontein

This seaside village lies 85 km north of Cape Town on the R27. Situated between Cape Town and Langebaan, Yzerfontein is a grand base from which to explore the many attractions of the Cape West Coast...

>> Properties in Yzerfontein
>> Properties in the Western Cape

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2. Garden Route
3. Northern Cape
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5. KwaZulu Natal
6. Free State
7. North West
8. Gauteng
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10. Limpopo

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In the Area

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

  • Belfast
  • Chapman's Peak
In the area 1 - Belfast

Mushrooming coal mines around Belfast on the Mpumalanga highveld are creating fresh demand for residential property...

In the area 2 - Chapman's Peak

The drive through Chapman's Peak is certainly one of the most beautiful in the country, if not in the world. It is an incredible tourist attraction and also an important artery connecting the residents of Houtbay, Noordhoek, Llandudno and surrounds to the city...

To the editor

Green Cities Conference 2012

Green Cities, the largest green building conference in Asia-Pacific, will be hosted by the Green Building Council of Australia at the Sydney Convention and Exhibition Centre from 4-7 March 2012 and will showcase the best and brightest green building professionals, industry experts and manufacturers for three days of green building conversation, innovation and collaboration...

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

Local news continue

South African Real Estate Tycoon Buys London's Tower 42 For $440 Million

A South African property magnate has finalized a deal to acquire one of London’s most famous landmark skyscrapers,London daily City A.M has reported...

In a Dainfern state of mind

There are two ways to enter Dainfern. One is through the Broadacres gate. It looks much the same as the William Nicol entrance -- both have grand white wooden facades with grey roofing and boomed lanes for "visitors" and "residents" -- but the Broadacres gate is a more fitting way to arrive...

2012 Cape Argus Pick 'n Pay Cycle Tour

This is an opportunity to get involved in a project which will help you leave an everlasting legacy in the future of promising young children’s lives.

‘Give me a Chance’, with the help of CHAS EVERITT entered a charity bond for the ‘Cape Argus Pick n Pay Cycle Tour 2012’ in an attempt to set the world record for the most people ever to ride for charity in a timed cycling race.

We’ve created the platform for you to be part of the solution in our country and you might just have some fun doing so!

Join the "Chas Everitt 'Give Me a Chance' Cycle Team"

Entries Close: 13th of January 2012
Contact Lee-Ann: 021 855 8104 / 084 645 7124

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