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Weekly Property News
Friday, 16 October, 2009 |
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FROM THE EDITOR |
UP.. UP..UP!! No, I’m not referring to the animated
movie about the adventure of a 78 year old man who ties balloons
to his house and fly away with an 8 year stowaway boy. I’m
referring to the positive property market that we are
currently experiencing;
- South Africa on the up
- Property prices on upward trajectory
- Mortgage bond approvals rise by 60%
Headlines: The September oobarometer price index,
released on Monday, recorded an increase in the year-on-year
house prices of 1.8 percent. "The September oobarometer
continues to reflect an improvement in year-on-year house
prices," says Saul Geffen, chief executive of ooba. "This
is the fourth consecutive month that the oobarometer has reported
rising house prices and is clear evidence that the
market is on the road to recovery." The average purchase
price according to the oobarometer was R806 494 last month
compared to R791 478 in September 2008. The month-on-month
average purchase price has also increased by 1.4 percent from
R795 241 in August this year. "One of the biggest drivers
of a market recovery is bank lending and we have seen an improvement
in competitiveness between the banks over the past five months
and an increase in approval rates," Geffen said. "Banks
are now targeting non-bank clients and rate concessions are
becoming more aggressive."
Market update: With interest rates down and economic
prospects looking better, the number of first-time buyers
is rising again. But most are still looking for "bargains"
and in this respect they might want to take a tip from best-selling
author and motivational speaker Harvey Mackay (Swim with the
sharks without being eaten alive). He suggests searching in
the up-and-coming suburbs where creative people are settling.
"The pattern in urban revival is always the same: first
come the artists - writers, painters, art directors and photographers
who are looking for cheap space, for each other and for that
certain cachet that their eyes can detect before ours can.
Let the 'trendies' show the way
Enjoy!
The editor
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In
This Issue |
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Featured
Property |
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France,
Creuse, Aubusson
Property Type: Hotel - Have you ever dreamt of owning
a luxury Chateau in the French countryside where you
can invite your colleagues, friends and family to come
and stay?
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CyberProp
Property Count: 16/10/2009 |
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Now |
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Properties for Sale: 135,014
Properties to Rent: 10,521
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Real
Estate News International |
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Local
News |
| South
Africa on the up |
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Derek Tucker is sold on the wonders
of South Africa after a winning bid at a charity
auction proved to be more affordable than you might
expect... |
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| Property
prices on upward trajectory |
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Lightstone's June repeat sales indices,
released on Wednesday, confirm that house prices
are leaving the doldrums and heading towards positive
terrain... |
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| Mortgage
bond approvals rise by 60% |
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Throughout South Africa there is now clear evidence
that residential sales are picking up at a satisfactory
rate, says Rob Lawrence, Manager of Rawson Finance,
the new bond originators who have now been in
existence just on 18 months...
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| FNB:
confidence returning |
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Building confidence rose slightly
in the third quarter of 2009, FNB said on Tuesday
as it released its Building Confidence Index (BCI)... |
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| Let
the 'trendies' show the way |
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With interest rates down and economic prospects
looking better, the number of first-time buyers
is rising again. But most are still looking for
"bargains" and in this respect they
might want to take a tip from best-selling author
and motivational speaker Harvey Mackay...
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| Land
prices surging |
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In the current market, most home sellers are
still focused on getting any offer to purchase
that is reasonably close to their asking price,
but they should not lose sight of the fact that
there are usually also many non-price terms to
be successfully negotiated before a deal can be
concluded...
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| Doubling
of estate duty tax-free abatement will reduce use of trusts |
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The recent promulgation of an amendment to the
Estate Duty Act which will come into force from
1st January 2010 will be yet another step in the
process of reducing the artificial use of trusts
in estate planning, says Ulrik Strandvik, director
of Grant Gunston Attorneys...
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Upcoming
Events |
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Focus
On |
Chas
Everitt plans extreme makeover for children’s home
The Chas Everitt International property group is gearing
up to give a section of the Durbanville Kinderhuis in Cape
Town an extreme makeover in October.
This follows the hugely successful revamp of the Kid’s
Haven on the Gauteng East Rand last year and forms part of
the group’s community involvement programme...
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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;
- Cape Town
- Cape Peninsula
- Somerset West
| In
the Area 1 - Cape Town |
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Cape Town tipped to bottom out
Cape Town could be the best place to invest in
property in South Africa, a real estate expert
there has argued...
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| In
the Area 2 - Cape Peninsula |
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Buy to rent investors, said Steward, often look
to the better areas for their investments in the
belief that the tenants they will attract there
will be more reliable than those in the less affluent
areas...
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| In
the Area 3 - Somerset West |
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It may surprise some property trend watchers
to know that Somerset West has proved to be a
favourite spot for foreigners looking for a South
African retreat, holiday or retirement home...
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To
the editor |
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To the editor:
Message:
Hi, it’s actually a pity that I missed
your previous edition, as I have documented
proof, via email of how a Property Agent
(from a highly reputable Company) handles
transactions, unscrupulously! Even
after various escalations, I doubt this
particular agent knows but the "win-win"
concept ! Regards Sushilla
Send us your “real estate agent”
stories as we would like to share them with
our readers. Send to news@cyberprop.com
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News
From |
| Kapstadt
International Properties - Aubusson, Central France |
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The Limousin region of Central France, in which
the town of Aubusson is found, is famous for its
distinctive Limousin cattle. However, Aubusson
is best known for something quite different and
rather more aesthetic, as it has been an acclaimed
producer of wonderful carpets and tapestries since
the Middle Ages. If you wish to buy one, this
is the place to go. But even if your finances
don’t run to this, it is well worth a visit
anyway to see these beautiful carpets, tapestries
and rugs being made and restored. Aubusson itself
is a fascinating town surrounded by the lush green
countryside of central France....
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