Weekly Property News
20 May 2011
FROM THE EDITOR

Dear Reader

With the election behind us it’s now time to focus on the delivery of promises. I suppose only time will tell if promises are met.

Good news for Internet users; it’s 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

Enjoy!
The editor

In This Issue
Featured Property

Mpumalanga, Dullstroom
Farms
- Bed: 7 | Bath: 3
Magnificent trout farm just 1,5 km from Dullstroom...


CyberProp Property Count: 20/05/2011

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Properties for Sale: 142,087
Properties to Rent: 10,070

Local News

Knowledge 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...


Civil cases for debt drop in March

There was a steady drop in the number of civil summonses issued for debt in March but South Africans remain indebted...


South Africa keeps moving ahead cautiously

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...


SA most transparent real estate market in BRICS bloc

While the South African economy may not match the rest of the BRICS nations, the country is ranked 23rd out of 81 in Jones Lang LaSalle’s World’s Most Transparent Real Estate Markets...


Generation 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...


Selling 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...


Fastest 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 bank’s respected economist, John Loos, has shown that sectional title units have recently been far and away the best performers in the residential housing sector...


Get 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 repaired...


Thinking 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...


Buyers love densification

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...


IEASA and REBOSA

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 bodies...


You 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 pressure...


Put 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 isn’t overflowing with clutter...

Focus On

Dullstroom, Mpumalanga, South Africa

Dullstroom is only 2 hours from Gauteng en route to the Kruger National Park and the Gateway to Mpumalanga...

>> Properties in Mpumalanga
>> Properties in Dullstroom,


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

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Enter City/Suburb:

In the Area

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

  • Pretoria Moot
  • Cape Town
In the area 1 - Pretoria Moot

Home sales surge in Pretoria’s Moot area

The suburbs of Pretoria collectively known as the Moot are experiencing a surge in housing demand...


In the area 2 - Cape Town

Cape Town market proving popular with foreign property buyers, report suggests

The 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...


To the editor

Share your comments with us by sending it to news@cyberprop.com


Local News Continue

Timber 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...


Financial wizardry in R3.5bn property scheme

A picture of financial wizardry is emerging at Picvest (formerly PIC Syndications), one of the country’s biggest property investment schemes. Despite assurances that investors’ assets are rock solid, there is no proof provided to back up these claims...


CPA 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...


New 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...


New 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...

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