Weekly Property News
13 April 2012
FROM THE EDITOR

Dear Reader

Internationally the experts predicts that the housing crisis might come to an end this year. One of the main reason for this is the banks that are loosening their credit; “the clearest sign yet of an improvement in mortgage credit conditions”.

On a National front;

· John Loos FNB economist does not predict an upturn in the near future but he stays optimistic
· Berry Everitt Managing Director of the Chas Everitt International Property Group “There’s definitely a growing sense of optimism in the property market and this is now being reflected in cracking good sales”
· Jan Le Rous, CEO of Leapfrog Property Group, “The market might not be strong at the moment but, home buyers can be grateful that the interest rate remains unchanged. At least in this position everyone knows what’s coming and can work with what they’ve got”.

Headlines: Many people are looking for signs of an upturn or, at least, for an authoritative analysis of trends, according to Dianne Brock, manager of the Western Cape Institute of Estate Agents of SA (IEASA). Since holding a networking breakfast some three weeks ago, Brock has received several requests to summarise the residential property update given at the breakfast by John Loos, the FNB economist. "Loos enabled us to take a balanced long-term view of the current situation. He does not yet predict an upturn in the near future, but his overall view remains optimistic," says Brock. Global slowdown still depressing property prices and banks 'have to remain cautious'

Market news: Gauteng estate agents are more optimistic than those in the rest of the country, according to the latest FNB Gauteng Estate Agent Survey released on Thursday. "The first quarter 2012 [survey] shows Gauteng estate agents to be currently the most optimistic of the major metropolitan regions," Petro van Heerden, FNB valuations manager, said in a statement. Gauteng estate agents upbeat

Happy Easter!
The editor

In This Issue

Gordons Bay, Western Cape, South Africa
House | Notes:
Incredible Ocean front one of a kind property in Harbour Island, Gordon's Bay, Western Cape...

CyberProp Property Count: 13/04/2012

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Properties for Sale: 127,926
Properties to Rent: 10,076

International News

Mumbai Is the World’s Least Affordable Home Market

The average Indian would need to work for three centuries to pay for a luxury home in Mumbai, making that city the least affordable in the world for locals, according to an analysis of real estate and wages....


Local News

Global slowdown still depressing property prices and banks 'have to remain cautious'

Many people are looking for signs of an upturn or, at least, for an authoritative analysis of trends, according to Dianne Brock, manager of the Western Cape Institute of Estate Agents of SA (IEASA)...


A growing sense of optimism in the property market

There’s definitely a growing sense of optimism in the property market and this is now being reflected in cracking good sales. In fact, I’m delighted to report that many of our offices around the country had record months in March...


Is a Stable Interest Rate Enough?

The Reserve Bank’s decision to leave the repo rate at 5.5% falls in line with predictions by economists earlier this year. This ongoing stability is good news for the property market which shows indications of improving...


FNB report shows price growth acceleration

Those homeowners and property investors looking for some good news on residential property prices will be cheered to learn from the April FNB Property Barometer that house prices have recently shown further price growth acceleration...


Prequalifying for a bond

Estate agents year in, year out find that they are approached by potential homebuyers who have very little idea – or the wrong idea – of the size of the bond they will probably qualify for...


Victims of Joburg billing chaos have hopes dashed

The hopes of frustrated Joburg residents who received incorrect accounts from the city and who then hoped that the National Consumer Commission (NCC) would help have been dashed...


Gauteng estate agents upbeat

Gauteng estate agents are more optimistic than those in the rest of the country, according to the latest FNB Gauteng Estate Agent Survey released on Thursday...


RE/MAX distressed property report

While there have been many positive indicators that trading conditions within the South African property market are continuing to improve, distressed properties are still a market reality...


Real rentals still falling

On the residential-rental front, while townhouses showed no growth compared to a year ago, rentals on flats and houses were able to show a four percent growth (i.e. real rentals are falling by more than two percent)...


How to avoid wrangles over occupation

When you've sold your home, the last thing you want is a disagreement with the buyer about the occupation date or occupational rental...


Rental scams

Property scams that crop up in the USA, UK or Europe have a nasty habit of later appearing in South Africa, says Tony Clarke, managing director of Rawson Properties...


DIY landlords prone to more tenant problems

Buy to rent property investors will often think that they can do as good a job as an experienced rental agent but, says Tony Clarke, managing director of Rawson Properties and Rawson Rentals, this is very seldom the case...


To the editor

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Focus On

Gordons Bay, Western Cape, South Africa

Gordon's Bay is a picturesque coastal village, nestled at the foot of the Hot- tentots Holland Mountains and the False Bay Coast...

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In the Area

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

  • Kalk Bay
Kalk Bay's "The Majestic" notches up big sales

A prediction made early this year by Lanice Steward, managing director of Anne Porter Knight Frank, to the effect that Kalk Bay property would turn out to be some of the most sought after in the Cape Peninsula appears to be coming true...


Local news continue

Managing agents and bodies corporate

The appointment of a managing agent holds distinct benefits for a Scheme. The task of managing and administering a scheme – whether large or small – is a complicated and time consuming one; and there are few schemes with owners that have the time and knowledge to take on all of these demands for no financial compensation. Most schemes appoint a managing agent, generally a company or close corporation, who specialises in sectional title administration...


No crisis of confidence at the high street auction co event

Despite recent press coverage and negative sentiment surrounding the auction industry, the local market's appetite and confidence for buying through auction remains healthy, if The High St Auction Co’s last auction is anything to go by. 21 lots with a combined market value of R114 million went under the hammer on the day...


RE/MAX Helderberg at the top of the game
Lee Siebert, Broker/Owner of RE/MAX Helderberg which operates in the Cape areas of Somerset West, Strand and Gordon’s Bay, reports that her office has been outselling its competition over the past three months...

Technology makes viewing of live, virtual showhouses possible

Technology is set to cause a paradigm shift in the traditional property business, believes chief brand manager Toni Enderli and top-selling real estate agent Sean Britt, both of Realtors International in Cape Town...

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