Property News |
20 May 2011
With the election
behind us its now time to focus on the delivery of promises. I suppose only
time will tell if promises are met.
Good news for Internet users; its
expected that there will be a rate cut of 50% on Internet connections due to better
infrastructures and increased competition. This according to Frost and Sullivan
ICT analyst Vitalis Ozianyi.
Bad news for consumers; Consumers should not
commit to huge home and car loans to take advantage of low interest rates, as
it is expected to start rising at the end of 2011, Gavin Opperman, chief executive
of Absa Retail Bank, said on Thursday.
Headlines: There was a steady
drop in the number of civil summonses issued for debt in March but South Africans
remain indebted. The first quarter of 2011 reflected a 13,4% decrease in the total
number of civil summonses issued for debt compared with the first quarter of 2010.
A 10,8% year-on-year decrease was recorded in March this year. Civil cases
for debt drop in March
Market news: It is interesting to
see how relatively well we are doing (in some respects) and yet how much difficulty
we have in fully owing up to it. Manufacturing production grew by 4.6% in March,
not at all disappointingly, indeed mostly surging ahead, led by cars +30%, rubber
products +19%, petrochemicals/oil refining +17%, metal products +13%, furniture
+7%. Steel and food moved sideways and textiles still declined. Credit growth
was only 5.4%, though 7.4% for households. The motor industry has not suffered
unduly from credit availability, with unsecured loan facilities another important
consumer outlet. Especially property and the building trades continue to experience
restrained credit access. This looks unlikely to change for the better soon. South
Africa keeps moving ahead cautiously. South Africa keeps moving ahead cautiously
Property Count: 20/05/2011|
Factory: Top Ten suburbs report - May 2011|
Data methodology applied:
· Sales concluded for the period
1 November 2010 31 January 2011.
· Full title and sectional
title property values were viewed collectively.
· All sale prices of
less than R100k and greater than R15mil excluded.
· Only examine sales
where buyer and / or seller are natural persons or trusts (i.e. exclude companies).
· Exclude suburbs classified as industrial and commercial...
X leads the way|
Generation X will lead the property market to recovery in the US and in SA.
According to Peter Gilmour, Chairman of RE/MAX of Southern Africa, a more positive
sentiment has returned to the market in the US as well as in South Africa, especially
among professionals who can afford to take advantage of the current market conditions...
should be strictly business|
When the time comes to sell your home, it may seem natural to award the marketing
mandate to your friend who just happens to be an estate agent...
growing in SA|
The chairman of Rawson Properties, Bill Rawson, has drawn the attention of
buy-to-rent investors to the fact that the latest FNB property survey, compiled
by the banks respected economist, John Loos, has shown that sectional title
units have recently been far and away the best performers in the residential housing
the low-down on high-cost defects|
Structural defects do not necessarily develop or show within the first few
months after a house has been built or reappear soon after having been
of buying your first home?|
For the average South African trying to eke out a living, buying your first
home is probably going to be one of the biggest financial commitments you make...
Densification, where conventional homes on one-acre stands are being replaced
with three cluster home units, is proving attractive in long-established suburbs
on the northern side of Johannesburg, particularly Houghton, Saxonwold, Melrose,
Dunkeld and Forest Town...
Agents and principals in the real estate sector in South Africa have traditionally
been represented by their branch of the Institute of South African Estate Agents
(IEASA). However, as of this month (May) there will now be two representative
can't afford to be under-insured|
South Africa is said to be more exposed than most countries to loss from the
likes of crime, burglary, vehicle claims, car hijacking, theft etc, yet insurance
industry figures are that about 40% of insurance policyholders are under-insured
and that this figure could be growing as household budgets come under increasing
your garage on show, too|
With storage space at a premium in the smaller homes now increasingly favoured
by many buyers, a lock-up garage could quite easily become a dealmaker
provided it isnt overflowing with clutter...
For Properties |
Search for property in your area
the Area |
The areas we are going to take a closer look at
this week are;
the area 1 - Pretoria Moot |
Home sales surge in Pretorias Moot area
The suburbs of Pretoria
collectively known as the Moot are experiencing a surge in housing demand...
the area 2 - Cape Town|
Cape Town market proving popular with foreign property buyers, report suggests
residential real estate market in Cape Town, South Africa, is currently a classic
buyers market in with properties taking 19 weeks on average to sell and
then with only 15 % of vendors achieving their asking price, a new report reveals...
homes in South Africa|
Support for timber or timber-framed houses in South Africa, especially if they
are supplied in quickly erected kit form, has come from a source that many might
find surprising: Bill Rawson, Chairman of Rawson Properties and of Rawson Developers,
which traditionally builds in brick and/or concrete blocks, said this week that
the time has come to consider timber alternatives for housing very seriously...
wizardry in R3.5bn property scheme|
A picture of financial wizardry is emerging at Picvest (formerly PIC Syndications),
one of the countrys biggest property investment schemes. Despite assurances
that investors assets are rock solid, there is no proof provided to back
up these claims...
doesn't rule auctions|
The Consumer Protection Act (CPA) places a large risk on the seller if a property
is found to be defective and purchasers are entitled to return the property to
the seller within six months after registration of transfer...
property listing foresees income boost|
Rebosis, the first black-managed and black-held property fund, which made its
debut on the JSE on Tuesday, is expected to offer investors an initial 8,6% forward
yield with forecast growth in distributions of 12% next year...
building gets 4-Star rating in Durban|
24 Richefond Circle, a new office building in Ridgeside Office Park, Umhlanga,
has been awarded a 4-Star Green Star SA Office v1 Design rating by the Green Building
Council of SA. Richefond is a 4952m2 , 4-storey office building, developed for
Shepstone and Wylie...