Property News |
18 November 2011
The focus this week is still on the Reserve Banks decision of last week to leave the repo rate unchanged;
Last week's decision by the Reserve Bank to leave the interest rate unchanged at 9 percent should not give consumers an excuse to go on a spending spree, warn the experts. John Loos, property strategist at FNB Home Loans, cautioned consumers and said although the interest rate remained unchanged, it would be wise for households to make provision in their financial planning for future hikes. 18-month hiatus expected before property gains
The Reserve Banks decision to maintain the repo rate at 5,5% is just one of many reasons for homebuyers and investors to have confidence in the future of the SA real estate market and to look forward to real price growth within the next 18 to 24 months. So says Rudi Botha, CEO of leading mortgage originator Betterbond who notes: SA currently has much better fundamentals driving the property market than most other countries, including a still-growing black middle class and thus an increasing number of people with good jobs and an appetite for home ownership. Positives are stacking up for SA property
The real problem restricting growth in the property market is however the availability of finance, not just the interest rate". This according to CEO of Leapfrog Properties, Jan le Roux. Interest Rate Stays as is. Good for Home Buyers
Headlines: JSE-listed property loan stock company VukileProperty Fund is to acquire a portfolio of 20 properties worth nearly R1,5bn, from Sanlam Life Insurance and introduce the Public Investment Corporation (PIC) as its large shareholder. Vukile CE Laurence Rapp said yesterday the acquisition was in line with the companys strategy of growing a quality portfolio of properties with strong contractual cash flows, in order to achieve meaningful capital appreciation and sustainable growth in distributions. Vukile, Sanlam in property deal
Market news: Currently the demand in the commercial property rental market seems to be fairly lacklustre and on a whole we believe that this situation is set to continue for quite some time. Luntz says, Despite what seems to be a fairly negative outlook, there are pockets of areas in northern Johannesburg where the demand for office space has in fact increased over the past twelve months and subsequently this equates to lower vacancy rates in those particular areas. Recent examples are Illovo where A-grade vacancy has decreased from 2.9% to 1.2% for the period June 2010 June 2011. Rental growth and office space demand
Property Count: 18/11/2011|
|Positives are stacking up for SA property|
The Reserve Banks decision to maintain the repo rate at 5,5% is just one of many reasons for homebuyers and investors to have confidence in the future of the SA real estate market and to look forward to real price growth within the next 18 to 24 months...
| Interest Rate Stays as is. Good for Home Buyers|
The South African Reserve Bank's Monetary Policy Committee today announced its decision not to change the repo rate. The question now becomes what the decision bodes for the slumped property market?
|Rental growth and office space demand|
In her position as general manager of the Western Cape Institute of Estate Agents, says Dianne Brock, she is continually being asked for forecasts and predictions on the local residential property market...
|New regulations 'moving South Africa forward strongly towards sustainable building'|
In an exciting and significant development that sees all new buildings and refurbishments in South Africa having to comply from 9 November 2011 to minimum standards of energy efficiency, the SABS have developed SANS 10400 part XA - the first of a set of minimum standards for environmental sustainability in new and refurbished buildings...
|Property Auctions: 6 Tips for Success|
With bank repossessions climbing, many property buyers and investors are increasingly using the auction route looking to uncover the next great deal. For newbies to the auction circuit, there are a few common practices youll want to keep top of mind before raising your bidders paddle in the air...
|The new generation buyer and seller|
With the vast changes in technology and how buyers and sellers interact, the real estate industry has seen a shift in how business is done, says Adrian Goslett, CEO of RE/MAX of Southern Africa...
|Demand for rental accommodation rising|
The Cape Peninsula estate agency, Anne Porter Knight Frank, has appointed the highly experienced property professional, (formerly general manager of the Western Cape Institute of Estate Agents), as GM of their letting division...
|24 month lease clause|
Almost daily there are media warnings that the Consumer Protection Act will have consequences not previously imagined or predicted...
|Recovering levy arrears is expensive and time consuming|
Trustees of bodies corporate sometimes fail to appreciate how disastrous it can be to allow some members to fall behind on their levy payments, says Catherine Cockcroft, sales manager of Propell, the levy funding and collection company which operates countrywide...
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the Area |
The areas we are going to take a closer look at
this week are;
the area 1 - Cape Town|
CT battling with housing
The City of Cape Town is battling to keep up with an increasing demand for housing, executive mayor Patricia de Lille said on Wednesday...
|In the area 2 - Durban|
Anger over new Durban property charges
Ninety percent of Durban developers will either be out of business or will relocate to friendlier municipalities if the city introduces its proposed new development charge, a meeting has heard...
|Local news continue|
The City of Cape Town is in the process of bringing online a new Integrated Spatial Information System (ISIS) which, as their official notification on this subject makes clear, will have a major impact on all aspects of property transfers, including applications for financial values, payments, the submission of transfer documents, the issue of certificates and the updating of ownership...
|Make sure your agent is right for you|
The prospect of selling a home can be a rather overwhelming experience, as it is very often a persons most valued asset. However, with the correct estate agent guiding sellers through the process, it can be a much simpler and less overwhelming one...