|
Weekly Newsletter
|
|
Friday, 20 February, 2009
|
 |
|
|
|
| >> Real Estate news – UK property grass not greener |
|
“That’s not to suggest we are without problems of our own. But the fact is, our prices have fallen comparatively modestly by around 5% in real terms and the general consensus is that we may see a return to slight growth perhaps as early as the third quarter of this year,” says Gerhard Kotzé, CEO of the ERA South Africa property group...
|
| >> House prices: dipping or diving? |
|
"South Africa is now joining an international landslide in this sector". That was the stark warning about the country's residential property market, issued by the Alliance Group's chief executive Rael Levitt this week after the release of his company's Distressed Asset Index results. But estate agents have been issuing statements, suggesting we are not far from the bottom of the cycle. Who is right? Should you buy now?
|
| >> Residential housing market close to bottoming out |
|
The latest figures from Absa Homeloans indicate clearly that in 2008 house price growth slowed noticeably in all price categories and across most of South Africa – but the overall picture is nowhere near as bleak as many property watchers would have us think, says Mike Greeff, CEO of Greeff Properties. “According to ABSA, in the affordable housing sector average prices rose 10% (to R283 000) in 2008. In the middle sector the average prices rose 3,8% (to R965 700) and in the luxury sector it rose by 9,1% (to R4,5 million)...
|
| >> Homeowners, beware of bogus buyers! |
|
Two men and a woman robbed a Vanderbijlpark home after gaining access by pretending to be interested in buying it, Gauteng police said on Thursday. Captain Lesibana Molokomme said the trio entered the premises on Thursday morning by informing the owner that they were interested in buying the house. A 22-year-old man, who was home at the time, and the gardener were attacked and left incapacitated and the house was robbed. "We don't know what's been taken yet... We don't know if they were armed or with what," Molokomme said. The young man was admitted to hospital. The three then fled in a white Toyota Corolla. Police urged members of the public to contact them if they come across the vehicle with registration number CFF 829GP. A case of house-breaking is under investigation. – Sapa |
| >> Bond application difficulties are most severe at the lower end of the housing market, says StartProp CEO |
|
Neethling’s firm, which employs some 30 agents, is particularly active in Mitchells Plain, Belhar, Delft and Khayelitsha – with a Constantia headquarters serving Southern Suburbs areas such as Plumstead, Southfield, Retreat and Diep River...
|
| >> A Further 2% drop in interest rates needed to get residential property development moving |
|
“Only a drop of that size,” said Hassan, “can revive an industry that has seen turnover fall by 50% in the last 18 months...
|
| >> The Players GC - Get n grip get a golf membership |
|
Benefits of membership include:
Value added services We at The PGC do not only provide golfers with a cost effective alternative to get all the benefits they need as golfers, but also provide our members with value added services exclusive to The PGC. These services include the following:
We can offer you this incredible golf membership for only R1199 per year a R200 discount on the normal rate. And Even more Join from now till the end of the March and stand a chance of entertaining 3 of your friends or clients by winning one of 4 four balls at a prestigious golf course in your area worth R1800 per four ball. To take up this incredible offer contact Neil De Bruyn on 011 998 2999 Or visit www.theplayersgolfclub.co.za
and complete an online application form. |
| >> Sell fast at a profit |
|
Cosmetic changes don't have to cost a lot and they can help you get a much better price on your home. The two most important places are the kitchen and the exterior, according to some leading estate agents...
|
| >> Inefficient or decaying electrical networks are dangerous fire hazards, says Anne Porter Knight Frank MD |
|
Electrical faults, she said, are probably the most common cause of fires in domestic buildings.
|
| >> Easy ways for homeowners to save water |
|
And according to the Chas Everitt International newsletter Property Signposts, it’s easy enough to do so just by making a few small changes that will also keep your water bills down, such as the following: *If you have a leaky tap, replace the washer immediately. A tap leaking at the rate of one drop per second will waste around 10 000L of water every year...
|
| >> Welcome tax relief for bodies corporates |
|
Body Corporates at sectional title schemes in South have been given some welcome tax relief through the Taxation Laws Amendment Act, which was promulgated by SARS in July of last year. The Act states that all taxable income received by body corporates, i.e. income other than that derived from levies, will be granted a R50 000 exemption per annum...
|
| >> Inner city Loft Living attracts trendsetters |
|
The 15-storey Fashion Lofts are situated on Johannesburg’s colourful fashion district. Boasting superior finishes, such as granite-topped kitchen counters and wooden strip flooring, the apartments are generously proportioned and range from 30 sqm to 82 sqm in size. State-of-the-art biometric security controls access to the underground parking and via the lifts, making these units the ideal choice for those looking for a secure, convenient, quality lifestyle...
|
|
|
| >> To the editor |
|
Last week’s letter from one of our readers, Chantal created a buzz this week. Reader: I would like to know - how is it possible for first time home buyers with no deposit to be able to afford buying a home? Were must we just get +- R110 000 to put down as a deposit? There's no hope for young married couples that wishes to bay their own home. Even if you could qualify for the loan and have good credit record there is no way we would be able to put down that amount of deposit required, so if we don't save for at least +-2 years, we can’t make it, and at last in 2 years everything has changed again, and we would be back to square one... I just feel so hopeless regarding this... Kind Regards We received the following responses;
Dear Editor,
Not too sure… but this could just as well being my daughter Chantal. Married just a year ago, my children also now wants to take the bold step in property investment as they are planning to start a family. Their biggest mission the past year was to settle all small debt to prepare themselves for this important step. Why is it that some banks could offer the full at one moment and whilst they were house hunting changed to the deposit criteria. All along they could not afford an amount higher than R 800 000. The next moment the banks requires the deposit and like your previous writer mentioned – back to square one.
I feel the banks should at least allow first time buyers to have a full 100% loan and further more assist them with the lowest rate possible. I don’t have a problem that the credit act should have an influence on their decision to grant a mortgage. This would ensure a healthy generation moving towards a better South Africa and allow those who are disciplined to become investors and self supporters. This would also relieve the Government from the housing strain.
Please Please Please…. They need help!
Lorraine Dear Editor In response to your letter from Chantal who was asking how it is possible for a young couple to find a deposit for their first home - as a first time buyer you may be able to qualify for a 100% loan from certain banks. I was fortunate enough to qualify and find that my loan repayments are way below current rentals for similar properties. R E Stewart Dear Editor Unfortunately there is no quick answer. First time buyers will have to work responsibly and with a tight budget. These days there are amazing rental opportunities and advice would be to make use of these opportunities and save up for a deposit until the banks change their policies. Here at Betterbond Westrand we go out of our way to assist our clients and will do our utmost best to get bonds approved. Readers who have questions or who are experiencing problems are more than welcome to direct their emails to me.
Editor: Send your viewpoint to news@cyberprop.com |
| >>News from – Anne Porter Knight Frank |
|
Anne Porter Knight Frank have once again emphasised the huge importance of thoroughly preparing a home for viewing before putting it on the market. They have published and distributed a knock-and-drop pamphlet that gives ten tips, all of which, says Lanice Steward, MD of Anne Porter Knight Frank, are crucial if you want (as you should) to set your home apart from others on the market.
|
| >> In the area... |
|
The areas we are going to take a closer look at this week are;
|
| >> In the area 1 – East London |
|
Property prices in East London have moderated considerably, opening up the market to investors with foresight and cash. So says Lance Gouws, principal of leading local agency Homenet Cornerstone who notes that sellers in general are now far more realistic than last year and that sales activity is increasing steadily...
|
| > In the area 2 – Hout Bay |
|
Hout Bay market revives The residential property market in Hout Bay has adjusted to current market conditions and is staging a strong comeback. Doug Styles, new owner of the local Aida franchise that serves Hout Bay and Llandudno, says the market had to adjust to new realities last year after the strong surge in prices during the boom. “The market has now stabilised at a more realistic level with current prices on a par with those of 2006, leading to increased sales activity...
|
| >> In the area 3 – Vryburg |
|
Vryburg security estate has wide appeal The historic Vryburg area of the North West Province is the scene of a security estate development that breaks new ground for the local property market with wide appeal for buyers from retirees to young families. Rosendal Country Estate, as the new project has been dubbed, is a venture by a partnership of active developers in the area with a number of successful projects to their credit...
|
| >> Focus on Haenertsburg, Limpopo, South Africa |
|
Perched up in the hills, Haenertsburg looks like a little piece of Austria transplanted to Africa... >>
View Properties in Haenertsburg
|
| >> Property of the week |
Search for property in your area |
| >> Are you sure about that builder? |
|
You have worked hard all year to save money for renovating your home - only to be ripped off by a builder who does a duck before completing the work you hired him for. Be careful of bad builders, research before you hire and pay only for work done, is the message from Wayne Reddek, founder of Constructionbuzz, a new online directory aimed at helping to identify the better builders and warning others about the rotten apples...
|
| >> Offering from Webmail |
|
|
| >> Software at its best! |
|
The Property Manager provides you with a very extensive and detailed
list of criteria which you can capture for your property listings and
gives you the control to decide how you would want these properties to
be displayed on the Internet
 If you would like to know more about the above features and benefits that CyberAgent offer, visit: www.cyberagent.co.za or email: sales@cyberprop.com |
|
For Sale Property: To Rent Property: |
Think
we have it tough on the South African property scene right now? Well spare
a thought for our UK counterparts where home prices have fallen about
15%, according to leading mortgage lender Halifax Bank - and the worst
is yet to come.
Auctioneer
paints scary picture as home loan distress grows; estate agents, others
say South African property market isn't "landslide" bad. 
Shiraaz
Hassan, Marketing and Projects Manager at the Cape headquartered Asrin
Property Developers, one of the three largest development companies at
the Cape, has added his voice to those of others in the property sector
who are calling for a further 2% drop in the interest rates sooner rather
than later.
Car
dealers do it, department stores do it, bakeries do it and you can too
— make your product look good, that is. If you're ready to sell your
house or apartment, make it easier and more lucrative by following these
simple tips.
It
can take a whole house burning down to make people realise how important
it is to check regularly their home’s electrical network, says Lanice
Steward, MD of Anne Porter Knight Frank.
South
Africa has limited water resources so even during the rainy season, homeowners
need to be thinking about ways to save water.
Young
professional women are among those who have opted to migrate to the inner
city of Jozi, choosing loft living above commuting from the mega-city’s
sprawling outer suburbs. Amongst the buildings already renovated for residential
use in the inner city, the Aengus Lifestyle Properties’ Fashion Lofts
have been particularly popular.
Driving
east from Pietersburg (Polokwane) to Haenertsburg, the land rapidly changes
from flat, dry bushveld to steep hills and valleys covered in lush green
forests.
Tips
on detecting, avoiding and acting against crooked builders.