Weekly Property News
Friday, 16 October, 2009
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

In This Issue
Featured Property

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?


CyberProp Property Count: 16/10/2009

Search Now

Properties for Sale: 135,014
Properties to Rent: 10,521

Real Estate News International

US foreclosures market 'set to grow'

The US foreclosures market could see new growth as unemployment continues to rise in the US, it has been predicted...


Local News

South Africa on the up
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...

Property prices on upward trajectory
Lightstone's June repeat sales indices, released on Wednesday, confirm that house prices are leaving the doldrums and heading towards positive terrain...

Mortgage bond approvals rise by 60%

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...


The upswing is a reality - but do not start raising your home's price

For some two months now sales of residential properties in the Cape Peninsula – and, indeed, the whole Greater Cape Town area – have shown an unmistakable upward trend, said Lanice Steward...


FNB: confidence returning
Building confidence rose slightly in the third quarter of 2009, FNB said on Tuesday as it released its Building Confidence Index (BCI)...

Let the 'trendies' show the way

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...


Land prices surging

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...


The banks new willingness to lend is still handicapped by the National Credit Act

The banks' new, very welcome willingness to lend money for residential property is giving a noticeable fillip to the market and is beginning to reinstate the banks' image...


Levy Collection in Sectional Title Schemes

All owners of sectional units are obliged to pay validly raised general and special levies to their bodies corporate...

Advice to homesellers: Don't "track" the agent when he is showing a client your home

If there is one practice among house sellers that time and again jeopardises a successful sale it is that of following the agent and the potential buyer from room to room and trying to supplement the information that the agent is supplying...


Blacks can "cract it" in real estate - dispite the barriers, says Lanice Steward

Whether transformation is taking place sufficiently rapidly in the estate agency world has been regularly discussed in the national media for some time now...


New tax laws will ensure that individual ownership will increase and cc, company and trust ownership decrease

The proposed amendments to the taxation laws relating to properties owned in close corporations, companies or trusts will result in many of these organisations which were simply “property owning vehicles” being replaced by individual owners...


Doubling of estate duty tax-free abatement will reduce use of trusts

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...


Upcoming Events

UCT (Law@Work) Sectional Title Scheme Management Certificate

Paddocks’ 9th presentation of the UCT (Law@Work) Sectional Title Scheme Management Certificate Course is due to start on the 30th of November 2009. For more details or to register, please contact Kate on 021 674 7818 or kate@paddocks.co.za. Alternatively, see www.paddocks.co.za

Focus On

Focus on Gauteng, Heidelberg, South Africa

At the foot of the Suikerbosrand, Heidelberg began in 1862 as a trading station built by a german, HJ Uekermann. A town was laid out around the store and named after Uekermann's alma mater...

>> View Properties in Heidelberg
>> View Properties in Gauteng


Chas Everitt Home MakeOver

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...

Search For Properties

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

Search for property in your area

Enter City/Suburb:

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

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...


In the Area 2 - Cape Peninsula

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...


In the Area 3 - Somerset West

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...


To the editor
 

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



News From

Kapstadt International Properties - Aubusson, Central France

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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