Weekly Property News
Friday, 13 November, 2009
FROM THE EDITOR

Headlines: Countercyclical macroeconomic policies are implemented when government decides to put the brakes on exaggerated upswings and to step on the gas when there is the threat of an economic downswing. The macroeconomic policy choices from 2003 to 2007 supported an unsustainable upswing. Instead of curbing bubbles in the financial and real estate markets and stopping a debt-driven consumption boom, government presented the economic upswing as a sign of the success of its macroeconomic policies. It did not matter that the industrial base of the country was crumbling and that industrial workers were fast becoming an endangered species. Thus according to Seeraj Mohamed. Do you agree?

Market updates: Some claim that housing in South Africa has become 'unaffordable', that prices are crazy, and that ultimately there must be a massive 'downward correction', perhaps back to the dirt-cheap 1998/99 levels prior to this decade’s property boom. But just how badly has housing affordability really deteriorated? Housing's future changing

Sectional title apartments has been the fastest growing sector in the South African property market over the last few years. No wonder that so many questions are raised on what sectional titles entails and who is responsible for what. This week we Cyberprop.com place four articles that will supply answers to some of those questions;

  • Who must clean windows?
  • Pets in Sectional Title Schemes
  • How can trustees deal with agreement breaches and anti-social conduct?
  • Trustees obliged to give sectional title owners access to minutes of meetings – if they want them – and to allow owners to attend trustee meetings

Enjoy!
The editor

In This Issue
Featured Property

Port Alfred, Forest Downs

Property Type: House - Large family home on double stand. Maintenance Free


CyberProp Property Count: 13/11/2009

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Properties for Sale: 138,771
Properties to Rent: 10,611

Real Estate News International

Namibian Real Estate sector firmer

NAMIBIAN real estate withstood the global economic crisis despite the price instability experienced in the South African market, a First National Bank properties analyst has said...


Local News

House Hunting in ... South Africa

The New York Times – Great homes and destinations - Market Overview

“The market in South Africa was hit quite hard by the global recession,” said Sanett Uys, the corporate affairs director for Colliers International South Africa...


Housing's future changing
Some claim that housing in South Africa has become 'unaffordable', that prices are crazy, and that ultimately there must be a massive 'downward correction', perhaps back to the dirt-cheap 1998/99 levels prior to this decade’s property boom...

Banks' cautious about future of econimic/job conditions still making bonds hard to come by - chairman, Western Cape IEA

Although all the South African banks have raised the number of residential property mortgage bonds that they are prepared to issue and have improved the loan to value ratios (in some cases to 100 or even 105%) they remain cautious about SA’s growth prospects...


World Cup demand is hotting up - and many buyers are from overseas

The consensus of opinion among estate agents reporting at National level is that the turnaround in the property cycle is now a reality and that the 2010 World Cup is beginning to have a significant effect in the property sector...


South Africans Hope To Rent Out Their Rental Properties During 2010
South African residents are holding onto rental property in the hopes of benefiting during the 2010 World Cup...

Rawson advises investors to stay with the local market

Bill Rawson, Chairman of Rawson Properties, has added his voice to those of several high profile commentators who have urged South African investors to be cautious about taking advantage of the increased offshore investment allowance...


Gearing for commercial property gold rush

Alliance Group, a leading asset sales and services company, has added four multiple auction dates to its sale diary in response to the rise in demand from private buyers and investors in the auction room...


APKF MD warns against increased crime over festival season

It is that time of the year again: if you have survived the recession, still have one or two rands in the bank and were not one of the fortunate few who have just already had a holiday, the chances are you are now planning a Christmas break away from home...


Everyday homes are top agency’s real bread and butter

Although Sotheby’s International Realty is rightly renowned for marketing millionaires’ mansions around the world, it actually sells far more family homes, flats and townhouses in local suburbs...


Advice to property sellers from APKF MD: do not hide any faults from potential buyers

It is extremely unwise to hide any problems in your home from a prospective buyer, warns Lanice Steward, MD of Anne Porter Knight Frank...


Current conditions have made it more difficult for middle class homeowners to upgrade their home

There is, says Bill Rawson, Chairman of Rawson Properties, growing evidence that the difficult conditions over the last 24 months in the residential property sector have led to middle class South Africans holding on to their homes longer and being unable to upgrade as they did formerly...


Got Linda Lovelace for a noisy neighbour?

How to put a stop to sexy moans, groans

JOHANNESBURG: A British woman this week lost an appeal against a ban on her noisy sex sessions, after the court agreed that marathon romps were keeping the neighbours awake...


Homebuyers beware - if the rates and water bills are not paid, you could face a problem

Regular warnings by spokespeople for the real estate industry about the danger of trying to move into a property on which the rates or the water/services bills have not been paid have gone unnoticed by many buyers, says Anton du Plessis, CEO of Vineyard Estates...


Bill Rawson punts estate agency careers

Although more than half a million jobs are said to have been lost in SA since the onset of the late 2007/early 2008 credit crunch, relatively few middle class unemployed people these days consider becoming estate agents...


Coffee of the highest quality could help sell homes

Although more than half a million jobs are said to have been lost in SA since the onset of the late 2007/early 2008 credit crunch, relatively few middle class unemployed people these days consider becoming estate agents...


Green Building Council and Arup Launch Guide to Retrofitting Buildings

The Green Building Council of South Africa (GBCSA), together with international engineering and consulting group Arup, have published “Existing Buildings Survival Strategies”


The Institute of Estate Agents of Southern Africa Western Cape launches its recruitment and placement division

Ivan Neethling, the current chairman of the Institute of Estate Agents, Western Cape, has launched an additional new service to its members and to the public by creating a recruitment and placement division, “Property Placements”...

Focus On

Focus on Port Alfred, Eastern Cape,
South Africa

Set along the banks of the tidal Kowie River, this picturesque seaside holiday resort has more sunshine days than any other town along the coast, with many attractions and activities on offer...

>> View Properties in the Eastern Cape
>> View Properties in Port Alfred


Search For Properties

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

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Enter City/Suburb:

In the Area

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

  • Pretoria
  • Pretoria’s new east
  • Bedfordview
In the Area 1 - Pretoria

The third Quarter Tshwane Metro FNB Residential Property Barometer pointed to a sizeable jump in activity levels in the region during the third quarter, after a very mild recovery since the third quarter of last year. This suggests that the region is beginning to feel the positive impact of the series of interest rate cuts that took place in the first half of 2009...


In the Area 2 - Pretoria’s new east

Property sales in several of Pretoria’s eastern suburbs have escalated dramatically in the past three months...


In the area 3 – Bedfordview

Property sales in upmarket residential areas are up, reflecting renewed confidence in this sector of the market...


To the editor
 

To the editor:

Dear Sir,

It seems that everybody is standing back and saying that the proposed hikes are exuberant etc, yet there seems to be nobody is taking a stand and doing anything to actually challenge these decisions. What can we do?

When a large portion of the population are not satisfied with political decisions they either toy-toy or boycott that institution. Why can’t a national boycott be arranged of payment for electricity be arranged or national protests on an ongoing basis. However I feel that this will be not the answer. The current crisis presents an excellent opportunity for public Government participation and allow private enterprise to build power stations on behalf of ESKOM and sell the electricity to the national supplier, this is the campaign that the consumers should campaign for and not punishing the public at large formal administration and corruption.

I hope that you would support such a proposal and publish this in your news letter.

Regards
Save South Africa Campaign
David. J. Griessel.
Founder
dgriessel@weblink.co.za

From the editor:

Well David, the Minister for Public Enterprises Barbara Hogan dismissed all concerns yesterday saying Eskom was "on track", and that they would attend to its next tariff rise application. Can we believe this? Or should the question be, are we happy with this? If you support David’s proposal send us your viewpoint or email him directly.

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


Sectional Title News

Who must clean windows?

Question:
In a sectional title complex or block of flats, is the body corporate responsible for cleaning the outside windows...


Pets in Sectional Title Schemes

Sectional title schemes, particularly densely populated ones often with little or no common property gardens, may not be the ideal places for pets. Yet many people living in sectional title schemes, or considering moving into one, consider their pets to be their best friends and could not even dream of getting rid of them...


How can trustees deal with agreement breaches and anti-social conduct?

Sectional title apartments have been - and will continue to be - the fastest growing sector in the South African property market - and there are significant cost benefits, convenience and security factors that make these units a worthwhile investment and/or a good place for people to live...


Trustees obligad to give sectional title owners access to minutes of meetings - if they want them - and to allow owners to attend trustee meetings

While many owners of sectional title units take minimal interest in the actions and decisions of their body corporate - at least until things are clearly going very wrong - there will always be some who will resent not being informed if not “kept in the loop”...


News From

News from Redefine - Buchanan Square tenant - Inscape

The Western Cape branch of the Inscape Design College has become another of the high profile buyers in Redefine Properties’ fully refurbished Buchanan Square in Woodstock...

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