Weekly Property News
17 February 2012

Dear Reader

Be careful! This was the message President Zuma gave Freedom Front Plus leader Pieter Mulder yesterday on the emotive issue of land reform. “It must be handled with utmost care, and not in the careless and callous manner in which Honourable Mulder handled it yesterday," President Zuma responded in the National Assembly to debate on his state of the nation address. Dr. Mulder currently serves as deputy agriculture minister. Read more in Zuma warns Mulder over land

Headlines: Houses overvalued by 25%? A rejoinder, an article not to be missed this week. Rode & Associates responds to real estate groups and other critics after serious anguish and denials in the real estate market after the launch of the “Rode’s Report”

Market news: According to the latest statistics released by bond originator ooba, property prices showed positive year-on-year growth of 6.7 percent (0.6 percent when taking inflation, at 6.1 percent, into account) in January. This growth is the highest year-on-year price increase since July 2010, when a year-on-year price appreciation of 9.8 percent was recorded. The January oobarometer price index reveals that the average house price rose to R850 589 from R797 011 a year earlier. The average purchase price amongst first time buyers continues to show a significant year-on-year increase of 12.8 percent to R650 574, from R576 675 a year earlier. Property turns the corner

The editor

In This Issue

KwaZulu Natal, Port Shepstone

Notes: Magnificent 180 degree sea & shorline views!
Few minutes to ski-boat launching beach. Main house & 2 separate well-attended 3 star accredited self-catering units with good income potential. 20 minutes from Shelley Beach.

International News

Zim's real estate sector to grow

Zimbabwe's real estate sector is expected to register a boom in the event of a lasting political solution from the fractious inclusive government formed three years ago, an international think tank has said...

Local News

Houses overvalued by 25%? A rejoinder

Rode & Associates responds to critics.
It appears estate agents and house investors and other stakeholders in the housing market have experienced serious anguish and denial following the launch of Rode’s Report (quarter 4 of 2011) on 26 January 2012...

Property turns the corner

According to the latest statistics released by bond originator ooba, property prices showed positive year-on-year growth of 6.7 percent (0.6 percent when taking inflation, at 6.1 percent, into account) in January...

Zuma warns Mulder over land

Tread very carefully on the emotive issue of land reform, President Jacob Zuma warned Freedom Front Plus leader Pieter Mulder on Thursday...

Mindset change needed in luxury homes market

“An expansive, positive mindset is what is needed in the luxury residential property market right now – instead of the negative, laager mentality that seems to have crept in behind the global debt crisis,” says Ronald Ennik, CEO of Johannesburg-based Ennik Estates...

New property funds underperform

In South Africa 19 of the top 30 biggest shopping centres are now owned by the listed property sector, including Clearwater Mall and the V&A Cape Town...

Housing MEC warns on property subsidies

Human Settlements MEC Bonginkosi Madikizela says the national government should not raise "unrealistic expectations" among the public with the announcement of a R1 billion fund to help people secure home loans...

Second hand homes cheaper than new ones

Tough economic times have tough consequences – and this is particularly evident with new residential developments, says Lanice Steward, managing director of Anne Porter Knight Frank...

Comment on State of the Nation address

Comment from Adrian Goslett, CEO of RE/MAX of Southern Africa, on the recent State of the Nation Address and its potential impact on the property market...

Bauer debunks advantages of renting

Michael Bauer, general manager of IHFM, the property management company which has now expanded to Gauteng (they have new offices at Midrand) has taken issue with those residential property economists who have been advocating renting rather than buying – because they see property losing value “in real terms” in the next 18 to 24 months...

Why tourism is positive for property

Two years ago, SA was gearing up to host the Soccer World Cup – and looking forward to a major economic injection from the thousands of tourists who flocked into the country to watch the games and support their favourite teams...

Do's and don't's of rental property

Property investors with access to finance will find many good opportunities to build their rental property portfolio in the current market...

Prep list for selling a home

All too often, says Tony Clarke, MD of Rawson Properties, the person trying to sell a home fails to appreciate that his chances of success will be greatly increased if he “teams up” with the agent – and plays his part in the whole process...

Top 10 ways to find your dream home

Due to the fact that the current property market offers buyers a wide selection of homes to choose from, the selection process can sometimes be tough. Adrian Goslett, CEO of RE/MAX of Southern Africa, says that while most buyers probably have a good idea of what they are looking for in a home, there are a few steps they should follow to help with their final selection...

World's most expensive cities

The strong Swiss franc has seen Zurich top Tokyo as the world's most expensive city in a survey out on Wednesday...

SARS exemption on secondary properties

There is, says Lanice Steward, MD of the Cape Peninsula estate agency, Anne Porter Knight Frank, good news for those who still want to transfer their secondary properties from companies or close corporations into their own names without paying capital gains tax or transfer duty formerly applicable to such transactions...

Inaugural trustee meetings

All too often in new sectional title schemes, the developer fails to hold the inaugural annual general meeting within 60 days of the first transfer...

CyberProp Property Count: 17/02/2012

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Properties for Sale: 133,653
Properties to Rent: 9,809

Focus On

Port Shepstone, KwaZulu-Natal

The largest town of the KwaZulu-Natal South Coast, Port Shepstone was founded in 1867 at the Mzimkulu River Mouth as a result of marble deposits found on the banks of the river...

>> Properties in Port Shepstone
>> Properties in the Western Cape

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10. Limpopo

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In the Area

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

  • Polokwane
  • Centurion
  • Johannesburg
In the area 1 - Polokwane

Chas Everitt flag now flying in Polokwane

Two top agents have joined forces to launch the Chas Everitt International branch in Polokwane, the bustling capital of Limpopo...

In the area 2 - Centurion

Pent-Up Demand For New Homes In Centurion

Transforming rapidly in recent years from farmland to a central business hub that connects Johannesburg and Pretoria, Centurion is a far cry from the country area it once was...

In the area 3 - Johannesburg

A recent “pain of traffic” report, compiled by IBM, which took in 8 000 respondents in 20 major cities worldwide, has shown that Johannesburg now ranks as the fifth worst city in the world for “traffic pain”...

To the editor

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

Local news continue

Further exemption to PAIA likely to be the last

Shortly before the 2011 Christmas break, many property managers and owners found themselves in a near-panic situation as they faced up to the realisation, until then overlooked or forgotten by many, that the eleven year exemption from the requirements of the Promotion of Access to Information Act (which seeks to make companies and organisations more transparent) was about to expire on 31 December...

CC or company deed of sale signatories

Although the State tends these days to discourage it, there can still be advantages, particularly as regards multiple ownership, in holding a property via a company or close corporation, says Lanice Steward, MD of Anne Porter Knight Frank, a Cape Peninsula estate agency that has helped several clients to use alternative ways of property ownership...

Quality Commercial Property For First Auction

Johannesburg, 16 February 2012: The High St Auction Co has announced that its first property auction of 2012 will be held on 29TH of February at Summer Place in Hyde Park at 12h00 and will see 26 lots with a combined market value of R 110 000 000.00 come under the hammer on the day...

Pool safety and children – is there such a thing as over-parenting?

There is a series on DSTV at the moment called World’s Worst Mum, featuring mothers who take over-parenting to the extreme. I’ve seen episodes where 12-yr olds are not allowed to use a butter knife, cut their own food or even ride a bicycle, their mother so terrified they will harm themselves...

Samuel Seeff to speak at SALA Wealth Summit

Samuel Seeff, Chairman of Seeff to speak at the SALA Wealth Summit on "Wealth in Assets: High net worth areas by purchase and rental dynamics"...

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