Weekly Property News
14 September 2012

FROM THE EDITOR

Dear Reader

In recent years when home loans have been so difficult to come by, potential buyers have often been urged to pull their resources with friends or family members so that they can qualify for a bond and get on the property ladder as soon as possible.

The latest statistics from OOBA, South Africa's biggest bond originator, show a marginal year-on-year house price growth of 0.7 percent (-4.2 percent when taking inflation of 4.9 percent into account) to R836,055 in August 2012 and a month-on-month decline of 1.3 percent (-6.2 percent when taking inflation of 4.9 percent into account) from R846,863 in July 2012.

Spokespeople for the major estate agencies in South Africa regularly find themselves asking one question, says Bill Rawson, Chairman of the Rawson Property Group - and that question is, "Should I now be considering buying property overseas?" Usually, said Rawson, the question relates to residential property in the UK and has been triggered by the SA Reserve Bank now allowing SA citizens to invest up to R4 million per annum offshore.

Sobering crime statistics, coupled with the fact that many families have been affected by crime either directly or indirectly, have made home buyers in South Africa some of the most security conscious people in the world. For a large majority of home buyers in this country, security has become one of the most crucial influencing factors when deciding which home to purchase, says Adrian Goslett, CEO of RE/MAX of Southern Africa.

Enjoy!
The editor

In This Issue

Coffee Bay , Eastern Cape, South Africa
Wanting to get away from the hustle and bustle of city life? Searching for that idyllic lifestyle, whilst making your investment work for you? Then this is for you!

News

House prices in reverse gear

The latest statistics from ooba, South Africa’s biggest bond originator, show a marginal year-on-year house price growth of 0.7 percent (-4.2 percent when taking inflation of 4.9 percent into account) to R836,055 in August 2012 and a month-on-month decline of 1.3 percent (-6.2 percent when taking inflation of 4.9 percent into account) from R846,863 in July 2012...


Investec Property Fund to increase to R3,5 billion

The Investec Property Fund is set to dramatically grow its portfolio from R2 billion to R3,5 billion with three significant acquisitions collectively valued at R 1.233 billion. The acquisitions will further enhance the Fund’s retail portfolio which, post the transactions, will have increased seven-fold since the end of the financial yea...


BRICS’ third nation South Africa in unprecedented foray into SL, starts entering with $122 Mn

South Africa, Sri Lanka’s leading trade partner in Sub-Saharan Africa and the third most competitive economy in the $ 13.7 trillion BRICS grouping, is making an unprecedented investment foray in to resurgent Sri Lanka-with no less than $ 122 Mn initial investment -and scheduling yet another strong business delegation to Sri Lanka next. “I am pleased to announce that SAPOA, South African Property Owners’ Association, the biggest South African property owner only second to the Government of South Africa, is coming to Sri Lanka in 2013 February/March...


African Investment

Sept 11, 2012 (LBT) - South Africa, is to make an initial investment of 122 Million U.S.Dollars. The South African High Commissioner in Sri Lanka Geoff Doidge made this announcement addressing the special dinner event hosted by the Export Development Board of the Ministry of Industry and Commerce in honour of the visiting high level South African business delegation to Sri Lanka...


RE/MAX President on global property trends

Many of the world's key cities report strong residential property growth this year, although some markets remain under pressure due to the general flat economic climate. Overall, home prices declined year-on-year in 2012 in the majority of international markets. Depressed market conditions have, however, opened up major opportunities for savvy global property investors...


Should I invest in overseas property?

Spokespeople for the major estate agencies in South Africa regularly find themselves asked one question, says Bill Rawson, Chairman of the Rawson Property Group - and that question is, "Should I now be considering buying property overseas?" Usually, said Rawson, the question relates to residential property in the UK and has been triggered by the SA Reserve Bank now allowing SA citizens to invest up to R4 million per annum offshore ...


Prime Central London price growth slows

Results for August 2012

" Prime central London property prices rose 0.5% in August, taking annual growth to 9.9%
" Prices have now risen by 49.9% since the post credit-crunch low in March 2009
" Prices are at a new record high and are (14%) above their previous peak in March 2008
" The 1.8% price growth in the three months to August represents the lowest three-month growth figure since November 2010
" Price growth in the year to August was stronger for apartments (10.9%) than for houses (8.6%)...


London and South East outperforming but challenges ahead for retail sector

London, UK - While July retail sales showed a reasonable level of annual growth, the outlook for the retail sector remains challenging, according to the latest research by Knight Frank...


Something is wrong when unsecured loans increase month on month while only 6% of South Africans have qualified for home loans thus far

A warning issued three months ago by the Chairman of the Rawson Property Group, Bill Rawson, that the rapid rise in the banks' unsecured loans (30% up this year on the same period last year) should be carefully watched and should not be allowed to slow down or influence bank home mortgage loans has now been raised for discussion by the South African Reserve Bank...


Rawson and van Alphen shoot down banks' exorbitantly high interest rates

Only rarely does the Rawson Property Group hear their Chairman, Bill Rawson, talk in immoderate tones but at the recent Western Cape Franchisees Conference, he and his financial colleague, Mike van Alphen (a former ABSA regional manager now with the Rawson Finance), used such phrases as 'totally unjustifiable' and 'out of all proportion' to describe the situation which has arisen in the mortgage bond market as it is applied to low end home buyers...


The Rawson Property Group's franchises report increased interest in upper level properties

Reports from at least five of the Rawson Property Group's Western Cape franchises - Durbanville, Stellenbosch/Franschhoek, Constantia, Hout Bay and Hermanus - point to the demand for upmarket homes now strengthening, says Bill Rawson, Chairman of the Rawson Property Group...


Property must be well presented and priced

Real estate agents in the Fourways region point to overpricing as the number one reason for property staying on the market for longer than it should, says Dieter Harck, Broker/Owner of RE/MAX One Hundred, whose office services Fourways and surrounding northern suburbs of Johannesburg...


How to research area safety

Sobering crime statistics, coupled with the fact that many families have been affected by crime either directly or indirectly, have made home buyers in South Africa some of the most security conscious people in the world. For a large majority of home buyers in this country, security has become one of the most crucial influencing factors when deciding which home to purchase, says Adrian Goslett, CEO of RE/MAX of Southern Africa...


CT gets 'integrated' housing

The largest integrated housing development scheme ever in the Western Cape will be officially unveiled next month, a construction company said on Monday...


Shared ownership can be a trap

In recent years when home loans have been so difficult to come by, potential buyers have often been urged to pool their resources with friends or family members so that they can qualify for a bond and get on the property ladder as soon as possible...

Focus On

Coffee Bay, Eastern Cape, South Africa

Coffee Bay got its name from a cargo ship that supposedly ran ashore here in the 19th century and spilled some of its coffee bean shipment on the shore. Local stories have it that some of these bean took root and grew into coffee trees, but unfortunately they are nowhere to be seen today...

>> Properties in Coffee Bay
>> Properties in Eastern Cape


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In the Area

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

  • Paarl
  • Camps Bay
  • Hout Bay
In the area 1 - Paarl's upper bracket properties attracting buyers - but the upswing is evident in all price categories

Earlier this year, Lizette Joubert, franchisee for the Rawson Properties Paarl franchise, said that 2012 would turn out to be a watershed year for housing in her area, one in which price drops became a thing of the past and the first signs of real price growth would become evident to all. At the time, she qualified her comments by saying that as long as most people can remember, Paarl property has always been more stable and more recession resistant than that of almost all other Western Cape towns or districts...


In the area 2 - Camps Bay home on a double plot

It's quite rare that a house in a prime corner position on a double plot in Camps Bay comes on the market that has the huge pluses of sea and mountain views, work from home facilities, four car garaging and ample off-street parking for visitors (six in all), said Tane Collins, the Anne Porter Knight Frank agent in this area...



In the area 3 - New life now evident in Hout Bay's residential property market

Seldom, if ever, has the outlook for Hout Bay residential property been quite so promising as it is at present, says Piet van der Merwe, Rawson Properties franchisee for Hout Bay and Llandudno.

“After the 2008/2009 crash,” said van der Merwe, “the market went into a go-slow phase. However, in the last couple of months it has been showing all the signs of renewed life and an upsurge...


To the editor

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


Local news continue

Illegal structures - the court may well exercise its right to order demolition

Throughout South Africa's property history, says Bill Rawson, Chairman of the Rawson Property Group, certain property owners have regularly tried to get away with erecting buildings for which the plans have not received official approval. Regrettably sometimes they have succeeded - but the situation is now changing...


The franchise system has transformed residential property marketing

History, says Bill Rawson, Chairman of the fast growing Rawson Property Group (now ranked number four among South Africa's real estate agencies), will show that the adoption of the franchise system by South African real estate companies ushered in a new era, one in which those attracted to the industry were more competent, more ambitious and more innovative than their predecessors. These predecessors, said Rawson, were by and large agents who had progressed to becoming branch managers. "They were usually steady, reliable people, but sometimes they lacked a true entrepreneurial spirit."...


RE/MAX expands to China

Real estate leaders add 90th country to global footprint

RE/MAX has sold franchise rights for China including the Mainland, Hong Kong and Macau, raising its overall country count to 90 - a larger global footprint than any other franchised real estate company ...


In Sectional Title property the real power still lies with the owners

The trustees play a critical role in determining the success or failure of any sectional title (ST) property scheme, but it is important to note that they are at all times under the control of the body corporate...


GBCSA multi unit residential training course set for September

As the world's population steadily grows, people are moving to cities more than ever - increasing the need for suitable accommodation in urban centres. Multi-unit residential homes are an ever-more attractive option for city dwellers, and greening these developments are important to ensure sustainable cities going forward...


CyberProp Property Count: 14/09/2012

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"This is not advice. Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that formal advice be sought before acting in any of these areas."