Weekly Property News
Friday, 14 May, 2010

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Most economists said rates would remain unchanged. "The domestic economic recovery remains fragile, but the South African Reserve Bank governor's recent comments as well as the weaker rand largely rule out an interest rate cut at this week's MPC meeting," Nedbank Group's economic unit said. "We therefore expect the committee to leave the rates unchanged." Standard Bank economists also expected a no-change decision. "However, we anticipate the first interest rate hike in March next year,"

And were they right! The rates was left unchanged. This was a "very sensible" decision according to Cees Bruggemans FNB chief economist. “When in doubt, do nothing".

Headlines: A good opportunity to boost the housing sector has been missed. This according to Tony Clarke Managing Director of Rawson Properties. He is disappointed that the SA Reserve Bank’s Monetary Policy Committee has decided to leave the interest rates unchanged. “This decision,” he said, “appears to be based on the premise that the economic recovery is now under way and that the economy does not need a new boost but this is certainly not true of the housing sector.”

Market news: Growth in the average house purchase price accelerated in April, according to the latest statistics released on Thursday by bond origination company ooba. The oobarometer price index recorded a year-on-year nominal price increase of 14.8 percent to R881 044 in April 2010 from R767 769 during the same period the year before. This is the second time that the oobarometer has recorded double digit price growth this year.

The editor

In This Issue
Featured Property
Free State, Bloemfontein, Park West

Guest House: Situated near Vodacom Park, Grey College School, University of the Free State, Mimosa Mall, The Waterfront and Medi-Clinic Hospital. Lazy Lizard has had a 5 star rating...

International News

What does a hung parliament mean for the housing market?

A hung parliament presents significant new risks, as well as some opportunities, for the housing market...

Local News

Rawson MD comment on rates staying the same

A good opportunity to boost the housing sector has been missed.

Tony Clarke, the managing director of what is possibly the fastest growing estate agency group in South Africa today, Rawson Properties, says he is disappointed that the SA Reserve Bank’s Monetary Policy Committee has decided to leave the interest rates unchanged...

No further interest rate relief for consumers - Absa

With mortgage interest rates at 5,5 percentage points below the peak of 15,5% in late 2008, mortgage repayments are currently 28,7% lower than 18 months ago, said Luthando Vutula, Managing Executive of Absa Home Loans...

Gordhan to cities: Next year you're on your own

The Finance Minister has warned World Cup host cities that after this year they will be on their own to cope with interest payments on loans taken out to pay for their new stadiums...

House prices taking off

Growth in the average house purchase price accelerated in April, according to the latest statistics released on Thursday by bond origination company ooba...

The different ways of buying property

There are four main ways that you can buy and own property in South Africa, and the decision on the appropriate entity for the acquisition of immovable property is not a decision to be taken lightly, says Peter Gilmour, Chairman of RE/MAX of Southern Africa...

Divide and conquer

Residential property subdivision is becoming a major trend among homeowners in the middle to upper ends of the market, says Peter Gilmour, Chairman of RE/MAX of Southern Africa...

Light up your sale hopes

When preparing their home for a show day long-time owners can easily miss one of the most important factors in creating a great first impression on potential buyers: good lighting...

Gauteng property showing most impressive growth

In the first four months of the year, RE/MAX of Southern Africa reported a 43% increase in sales year-on-year, with Gauteng showing a 91% increase from the same period last year. The Western Cape saw a 30% increase, while the North West Province and Northern Cape skyrocketed up by 400%...

Fewer living in shacks

The number of people living in informal dwellings in South Africa has dropped, according to the latest survey released by Stats SA...

Demand strong, prices rising in Namibia’s coastal areas

The Namibian coastal property market, which has been less affected by the global recession thanks to its uranium wealth, is performing well on the back of high demand and rising property price growth...

Intersect growing in Cape Town Southern Suburbs

Intersect Sectional Title Services has been proudly awarded two further management contracts in the Southern Suburbs, being the well established Albion Mews Body Corporate, a residential apartment scheme situated on the Main Road in Rondebosch and Greenwich Village a 30 unit sectional title scheme in Rondebosch...

Record R53 Million achieved for luxury wine estate auction

Klein Genot Wine & Country Estate, comprising a world-renowned restaurant, award-winning guest house and spa, as well as a state-of-the-art winery and adjoining vineyards, attracted investors from all over the country due to the solid investment opportunity the auction presented...

World Cup boosts high-end accomodation demand in Joburg

The centre of Johannesburg will become a hive of activity as foreign visitors arrive to stay at upmarket accommodation in the city centre...

Property in South Africa: Could Johannesburg be the world's best place to live?

Rivonia was originally termed "peri-urban" or rural so a lot of the houses are farm style conversions. It’s pretty central in terms of the Sandton central business district (CBD) and has access to lots of shopping, malls and retail parks...

CyberProp Property Count: 14/05/2010

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Properties for Sale: 137,980
Properties to Rent: 10,054

Focus On

Focus on 2010 FIFA World Cup™ fever in Bloemfontein, Free State, South Africa

The Free State Stadium was substantially upgraded in advance of the 1995 Rugby World Cup, and the structure now stands as a fully functioning venue for international sports events.

>> Propert in Bloemfontein
>> Property in the Free State

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5. KwaZulu Natal
6. Free State
7. North West
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Enter City/Suburb:

In the Area

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

  • Camps Bay
  • Groote Schuur
  • Centurion
In the area 1 - Camps Bay

Camps Bay still has homes affordable to the "entry level" buyer

The public's perception that homes in Camps Bay have become ultra-luxurious and prohibitively expensive is not entirely accurate - and this has had the unfortunate result of deterring some buyers from investigating the area properly...

In the Area 2 - Groote Schuur

Rawson asks Groote Schuur property owners to support the CID initiative

Several factors, says Bill Rawson, Chairman of Rawson Properties, are likely to make the new Groote Schuur City Improvement District initiative, now being formed, a success, but the participation of the University of Cape Town, which is contributing to the process is a major reason for believing that it will be especially worthwhile...

In the Area 3 - Centurion

Centurion: the point of progress and passion

The Centurion property market is expected to grow over the next few years as the Gautrain and the newly upgraded highways make this beautiful and safe area more accessible to people who work as far afield as Midrand and Johannesburg...

To the editor

ChasCares launched to spread the love

To build on the huge success of its Home Makeover projects of the past two years and to celebrate its 30th birthday, the Chas Everitt International property group has just launched ChasCares, a new corporate responsibility programme with a broader and deeper reach...

Send your viewpoint to news@cyberprop.com

News from Realty 1

‘A paycheque is not wealth’

Renewed economic growth and job creation is of course very welcome as SA recovers from recession, but more and more South Africans are coming to realise that a paycheque does not equal wealth...

Green Building Council of South Africa

Update on the Green Building Council of South Africa from inception to now

With seven large-scale office developments pursuing formal Green Star SA certification, and the second Green Star SA tool (for Retail buildings) having been launched in April, the Green Building Council of South Africa (GBCSA) has made significant progress since its formation....

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