Weekly Property News
Friday, 17 September, 2010

Dear Reader

The price of gold hit record highs this week. Reuters reported that an uncertain dollar position and bleak global economic outlook was what pushed investors to seek refuge in this precious metal. Experts are expecting the spot price for gold to break the $1300 barrier soon.

On the property side, it seems that house prices has slowed down yet again; that in the second half of the year growth is slower going forward than the first half.

Headlines: House price growth in South Africa continued to moderate in August from its recent strong levels, according to results released by bond originator ooba. The oobarometer price index showed the average house purchase price increased by 3.8 percent year-on-year in August to R825 264 from R795 241 a year earlier.

Market news: Spokespeople for the real estate sector are often accused of talking the market up – but Bill Rawson, chairman of Rawson Properties, this week took a very different tack. “It worries me,” he said, “that many economists are almost too optimistic about our ability to shake off the recession. While it is true that South Africa’s fiscal policy has been wisely and conservatively managed with the result that we have not felt the worst effects of the crash, most commentators are still, I believe, underestimating the effect of the banks’ reluctance to lend.

The editor

In This Issue
Featured Property

Garden Route, Wilderness, Hoekwil
Set in a fairytale garden with a swimming pool. Three bedroom timber home with a flat and a studio...

Local News

Hong Kong Seen Leading Home-Price Growth in 2011 as Bounce Ends

Hong Kong home prices will probably increase the most worldwide next year as a “post-crash bounce” loses steam and values settle at more sustainable levels, real estate broker Knight Frank LLP said...

Property grinds to a halt

House price growth in South Africa continued to moderate in August from its recent strong levels, according to results released by bond originator ooba...

Banks reluctance and government inefficiencies retarding economic growth

Spokespeople for the real estate sector are often accused of talking the market up – but Bill Rawson, chairman of Rawson Properties, this week took a very different tack...

Rate cut great news for home sellers

The latest interest rate cut is very good news for homeowners currently trying to sell their properties – if they strike while the iron’s hot...

SA building plans passed remains under pressure

Stats SA released the building statistics yesterday, for July 2010. Overall building plans passed were down 0.8%q/q in the period May to July, with a clear weakening in July, after a slight improvement in May and June...

Residential building activity recovering

Levels of activity in the South African residential building and construction sector seem to be recovering from a protracted period of decline in 2008 and 2009...

Make your home more secure this summer

Home security is a top priority among South Africans and with summer on its way, now is a good time for homeowners to review ways to improve safety...

Double-check the details in your holiday unit

In residential letting, you usually only have to keep one tenant happy all year. But in holiday letting, you could have dozens of people to satisfy in the hope that they will come back or at least recommend your rental unit to friends...

Top 10 tips for renting out your holiday home

With many leisure property owners feeling the impact of recessionary times and with the peak holiday season just around the corner, now is the ideal time to rent your holiday home out to potential holidaymakers...

It's 'back to the city' now for many semigrants

The wave of property purchasing that saw prices soar in country towns and villages during the property boom has ebbed and is leaving many of them high and dry as lots of new residents start to “follow the money” back to the cities...

Pollution law will add to landowners’ costs

Owners of contaminated land will have to make remediation plans and disclose the contamination to potential buyers...

Land-seekers 'easy prey'

Vosloorus residents have been conned out of thousands of rands by fraudsters illegally selling municipal stands, the Ekurhuleni metropolitan municipality said on Tuesday...

Check the 'fit' before you buy a home

Use your imagination to try a home on for size and shape before you buy it and you could save yourself a lot of agitation - and expense...

Insurance policies

When a buyer is granted a bond to buy a home he will be certain to receive telephone calls from insurance brokers urging him to take out sufficient insurance to cover the full cost of the home in the event of its being destroyed by fire, storm or any other cause...

Minute keeping essential part of sectional title trustee duties

It may come as a surprise to many body corporate members of sectional title schemes in the Western Cape to know that many trustees of such schemes are ignorant of matters which form part of their responsibility, says Michael Bauer...

Redlining of sectional title units without parking space illogical

The recently issued statement by two of South Africa’s major banks that henceforth they will no longer finance sectional title units if they do not have on site parking is illogical and based on out of date thinking, says Bill Rawson, chairman of Rawson Properties...

Focus On

Wilderness, Garden Route, South Africa

Wilderness has become an internationally sought after holiday resort. It is renowned as much as for its natural beauty, vast stretches of beach, tranquility and calm seas, as it is for its tradition of hospitality, which began as far back as the late 1800’s...

>> Property in Wilderness
>> Property in Garden Route

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;

  • Kleinkrans (Wilderness)
  • Clarens
In the area 1 - Kleinkrans (Wilderness)

Discerning retirees and holidaymakers are discovering the charm – and attractive home prices – in the Kleinkrans area near the perennially popular Wilderness on the Garden Route...

In the area 2 - Groot Marico

Groot Marico under attack from miners

Groot Marico in South Africa's North West Province, is facing probably the greatest threat in its history. Australian-based prospecting and mining company African Nickel has descended on the area, which is located on the periphery of the planets richest mineral deposit...

News from Green Building Council of South Africa

Future network of Green Building Councils across Africa

It seems that Africa is set to have a network of Green Building Councils in the near future. The concept was initiated at the 'Green Building Rating Systems in Africa' conference, held in Nairobi, Kenya, in May where it was recognized that countries within Africa are being establish their own Green Building Councils and will be taken a step further with the GBCSA’s “Africa Day” being held in Cape Town on 23 September...

International News

Bargain hunters turn to 'murder houses'

Taipei - "Seeking a murder house for residence." This is not a prank but an Internet ad posted by office assistant David Hsieh, who hopes to strike a bargain in Taipei's booming property market...

To the editor

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CyberProp Property Count: 17/09/2010

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