Weekly Property News
18 May 2012

Dear Reader

In her opening debate on the Departments R 6.8 billion budget in the National Assembly Energy Minister Dipuo Peters said this week that there will be a "substantial decrease" in the price of fuel next month. Indeed good news for the consumer and home owners who are "feeling" the repayment of their bonds every month.

More good news is that the USA's housing market is showing signs of bottoming. At the end of March, 2.37 million previously owned homes were available for sale, 22 percent fewer than a year earlier, the Realtors said. This is always a good sign for the rest of the world.

Headlines: The prospects for a revival in the residential building industry appear to be a long way off. This follows Absa's latest quarterly housing review revealing that the price gap between new and existing houses widened to another new record of 37.2 percent in the first quarter of this year from 34.5 percent in the fourth quarter of last year. A recovery in the residential building market is unlikely until the price gap between new and existing houses narrows because existing homes provide better value for money than new houses. Outlook for new property dims as buildings costs rise

Market news: "For the first time in many years, we are now starting to experience stock shortages in some suburbs around SA's metros, and there are also several other indicators of a sustained and widespread increase in housing demand.These include the fact that listing times are getting shorter and that the differences between asking and selling prices are getting smaller. FNB recently put the national average listing price at around 16 weeks, down from about 18 weeks at the start of the year, but we find that correctly-priced homes are now often selling within a month to six weeks, in many different parts of SA", Berry Everitt Managing Director of the Chas Everitt International Property Group, Word from Berry Everitt

We often receive emails asking what is the difference between Sectional Title Schemes and Home Owners Associations. Martin Bester, Managing Director of Intersect Sectional Title Services answer this question in this week's edition. The difference between Sectional Title Schemes and Home Owners Associations

The editor

In This Issue

Gonubie, East London, South Africa
Smallholding | Notes:
Thatched splendour on smallholding of almost five hectares. Enjoy the warmth and charm of this gracious family home with large reception rooms...

CyberProp Property Count: 18/05/2012

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Properties for Sale: 125,807
Properties to Rent: 10,380

International News

Home Prices Rise in Half of U.S. Cities as Markets Stabilize

Prices for single-family homes climbed in half of U.S. cities in the first quarter as real estate markets stabilized...

Local News

Outlook for new property dims as buildings costs rise

The prospects for a revival in the residential building industry appear to be a long way off...

Word from Berry Everitt

For the first time in many years, we are now starting to experience stock shortages in some suburbs around SA's metros, and there are also several other indicators of a sustained and widespread increase in housing demand...

Rise in property sale disagreements highlights inherent difficulties

Trial court statistics show that disagreements over sale agreements are fairly rare in freehold deals. But in sectional title and leasing, the number has risen quite significantly, says Dianne Brock, general manager of the Western Cape Institute of Estate Agents...

How the new property laws impact investors

South Africa has some interesting new real estate legislation that is destined to make an impact on how investors and property owners operate within the sector...

Stringent lending criteria need not eliminate chances of getting a bond

Throughout Cape Town, but perhaps most noticeably in the area which he serves, says John Weston, Rawson Properties franchisee for Bergvliet and surrounding districts, estate agents all too often come across the mindset that in today's more stringent financial conditions, potential purchasers stand little or no chance of qualifying for a mortgage bond...

Are smart homes the next trend?

Living in the era of rapid technological advancement means that consumers have grown accustomed to being able to access vast amounts of information in a minimum space of time...

Property management is about people

One of the key aspects for one to recognise in the property management industry is the role of the people involved, how the property relates to the uses and gratification thereof...

Choosing between two great homes

There are a lot of homes on the market for buyers to choose from right now and it is not uncommon for them to see two (or more) that they really like – and then to have a really tough time making a purchase decision...

>> No replacement for a show day

Those house sellers who have kept abreast of what is happening in the residential property marketing sector, says Tony Clarke, managing director of Rawson Properties, have, quite rightly, learned to place great faith in the effectiveness of online platforms and to prefer agencies which are technologically up to date...

Five Musts Before You List Your Home

Deciding to list your home for sale is a momentous time. It means you will be moving on to a new stage of life, no matter if you’re moving up or sizing down. Take a moment to look over these tips for what every seller should do before they put their home on the market...

How estate agents' commission works

The Institute of Estate Agents used to publish a recommended tariff, which was reviewed from time to time and was unfortunately outlawed by the Competition Commission as being anti-competitive many years ago...

Tenant's unpaid municipal service charges is landlord's responsibility

A Constitutional Court judgement made in 2004 (in the case Mkontwana vs Nelson Mandela Municipality) has had serious widespread ramifications throughout the commercial property sector - and has placed further risk on the shoulders of landlords, says Jason Lee, the Rawson Property Group's commercial property national head...

Focus On

East London, Eastern Cape, South Africa

South Africa's only river port city is situated on the Buffalo river on one of the most attractive stretches of the Eastern Cape coastline. Sweeping white beaches extend for miles - uncrowded and unspoilt...

>> Properties in East London
>> Properties in the Eastern Cape

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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

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In the Area

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

  • Johannesburg South
  • Port Alfred
In the area 1 - Johannesburg South

Lower priced homes in Johannesburg's southern suburbs are selling like hotcakes to young couples keen to get a foot on the property ladder...

In the area 2 - Port Alfred

The Stenden SA university, which has its campus in the Eastern Cape town of Port Alfred, has announced plans to expand its student intake to about 1500 over the next couple of years, and this has given rise to an exceptional opportunity for property investors in the form of student flats that can also be used or let as holiday accommodation...

To the editor

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Local news continue

The difference between Sectional Title Schemes and Home Owners Associations

Townhouse developments and complexes have grown considerably more popular in recent years as people increasingly opt for the improved safety and security, as well as the sense of community, that often comes with cluster living...

RE/MAX of Southern Africa continues forward

The first quarter of 2012 has continued to show an increase in activity in the property market, with RE/MAX of Southern Africa reporting a growth in their overall sales when compared with the same period during 2011...

SAPOA and NMMU Businesss School Programme to Boost Eastern Cape Commercial Property

NMMU Business School this week announced that it will be the education partner for the South African Property Owners Association (SAPOA), the representative body and official voice of the commercial industry property in South Africa, to present a cutting-edge, custom-designed course, Introduction to Commercial Property Programme (ICPP) that will take place on 4 June 2012 in Port Elizabeth and 18 June 2012 in East London...

The in and outs of Capital Gains Tax

Although it does not apply to every property sale, it is important for property buyers and sellers to be aware of the implications of Capital Gains Tax (CGT) and how it could affect them in their future property transactions, says Adrian Goslett, CEO of RE/MAX of Southern Africa...

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