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Weekly Property News
Friday, 14 May, 2010 |
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FROM THE EDITOR |
Dear Reader
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.
Enjoy!
The editor
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International
News |
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Local
News |
| Rawson
MD comment on rates staying the same |
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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...
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| No
further interest rate relief for consumers - Absa |
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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...
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| House
prices taking off |
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Growth in the average house purchase price accelerated
in April, according to the latest statistics released
on Thursday by bond origination company ooba...
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| The
different ways of buying property |
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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...
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| Divide
and conquer |
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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...
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| Light
up your sale hopes |
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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...
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| Gauteng
property showing most impressive growth |
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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%...
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| Fewer
living in shacks |
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The number of people living in informal dwellings
in South Africa has dropped, according to the
latest survey released by Stats SA...
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| Intersect
growing in Cape Town Southern Suburbs |
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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...
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| Record
R53 Million achieved for luxury wine estate auction |
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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...
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CyberProp
Property Count: 14/05/2010 |
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Focus
On |
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Search
For Properties |
Search for property in your area
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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 |
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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...
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| In
the Area 2 - Groote Schuur |
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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...
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| In
the Area 3 - Centurion |
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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...
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To
the editor |
| ChasCares
launched to spread the love |
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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...
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Send your viewpoint to news@cyberprop.com
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News
from Realty 1 |
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‘A paycheque is not wealth’
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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...
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Green
Building Council of South Africa |
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