Property News |
13 January 2012
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 countrys 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. Thats 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.
Property Count: 13/01/2012|
|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...
| 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...
|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 Capes 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...
|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...
|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.
For Properties |
Search for property in your area
the Area |
The areas we are going to take a closer look at
this week are;
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...
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...
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|Local news continue|
|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 childrens 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.
Weve 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