Weekly Newsletter
Friday, 21 September 2007
Property Search | Estate Agents | List your property

Edition 37 of 2007, Friday, 21 September 2007

Dear Reader

Do you think the price of houses in South Africa will fall? This is the question we asked in our pole last week. It was for sure a race to the end.

“There is in the property market a widespread belief that the seller can hide behind the voetstoots clause,” says Tony Clarke, MD of Rawson Properties. Voetstoots won't save you by iAfrica

Who owns the castle?

Most people do not buy and pay off their homes in a traditional financial sense: 59% of South African adults have never heard of the words mortgage/home loan. A further 18% have heard the term but do not know what it means. In line with this, 91% have never had a home loan from a bank. Only 6% currently have a bond, with the remaining 3% stating that they used to have a bond once. The number of people by race group who claim to own their own homes and are currently making bond repayments is as follows:

  • White – 46% 1 015 000
  • Black – 3% 520 100
  • Coloured – 13% 285 950
  • Indian/Asian – 18% 120 950

You can read more statistics in 11% of South Africans still live in squatter shacks

There’s exceptional value for money to be had on the property market south of Alberton, with the added bonus of an active municipality that is determined to preserve the pastoral ambience of the area. So says Pawel Jurkiewicz of Leapfrog Property, who notes: “Properties in Henley-on-Klip have been in increasing demand in the past year or so, and stands generally have nearly tripled in value as more and more people migrate from denser, bustling areas in search of a quieter, safer lifestyle. And this is where we will focus on this week in Focus on Henley-on-Klip, Gauteng, South Africa

In our CyberProp Blog we take a look at why SA should embrace foreign land ownership.

Enjoy!
The editor


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>> Real Estate News - Africa: Construction industry awakening

I made my first trip to Africa in 2000. Up to that point I had been working for a manufacturer of construction materials based in Dubai and servicing the Middle East. Even at that time, much of Africa was suffering the economic hangover of both colonialism and the subsequent de-facto cold war which had been waged across Africa...

>> Voetstoots won't save you

Owners are being both short-sighted and dishonest if they neglect to tell prospective buyers of their home about its defects.

“There is in the property market a widespread belief that the seller can hide behind the voetstoots clause,” says Tony Clarke, MD of Rawson Properties.

But, he says, the law on these matters makes it clear that if a buyer can prove that you as the seller knew of the defect — or should have known because it was fairly obvious — you can be taken to court and made to pay for the cost of repairs and the inconvenience caused...

>> Gloom, but homes ‘still in demand’

DESPITE a rising interest rate environment and gloomy predictions for residential property by pundits, some estate agencies say they are still experiencing healthy demand for residential property from buyers.

Samuel Seeff, chairman of Seeff Properties, says he thinks there is sufficient demand from potential property buyers in the market to satisfy any “reasonable seller’s asking price”...

>> What is fractional ownership

The costs of municipal services such as electricity and water are increasing rapidly in SA but fortunately, new technology and common sense can significantly lower property owners’ bills for these services.

In the most recent Property Signposts newsletter, the Chas Everitt International property group lists the following 10 ways to cut water and electricity bills...

>> What the young want…

Homeowners preparing their properties for sale and buy-to-let investors need to think about the features that will most impress the new generation of buyers and tenants – and the lifestyles of young adults can provide valuable clues.

>> 11% of South Africans still live in squatter shacks

High on the list of priorities of the ANC in government has been the delivery of formal housing for all the people of South Africa. Many people do live in some kind of formal housing, although many still live in shacks. FinScope, a study of the lives and circumstances of South Africa's residents conducted by TNS Research Surveys, finds that however humble most dwellings are, they are enormously important to those who live in them.

Yet most residents do not have home insurance to protect this most valuable asset, and the use of mortgage bonds to buy housing is far from widespread...

>> Jo’burg buyers find value in Henley-on-Klip

There’s exceptional value for money to be had on the property market south of Alberton, with the added bonus of an active municipality that is determined to preserve the pastoral ambience of the area.

So says Pawel Jurkiewicz of Leapfrog Property, who notes: “Properties in Henley-on-Klip have been in increasing demand in the past year or so, and stands generally have nearly tripled in value as more and more people migrate from denser, bustling areas in search of a quieter, safer lifestyle...

>> Focus on, Henley-on-Klip, Gauteng, South Africa

Henley on Klip is situated next to the R59 between Johannesburg and Vereeniging. The village was founded in 1905, by Advocate Horace Kent. Born in 1855 in Henley on Thames, England, Kent came to South Africa in 1898. The area where Henley on Klip is located, reminded Kent of his hometown, in England, Henley on Thames. Kent, in conjunction with the Small Farms Company (SFC), bought the land from a Mr. Van Der Westhuizen, for a price of 5000 Pounds, and the land was divided into smallholdings from 1 to 80 acres...

>> View Properties in Henley-on-Klip
>> View Properties in Gauteng

>> Property of the week

Gauteng, Meyerton, Henley On Klip

Bedrooms 5.00
Bathrooms 4.00

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>> From the CyberProp Blog

SA should embrace foreign land ownership – with conditional love, says Engel & Völkers

The Report by the Panel of Experts on the Development of Policy on the Regulation of Ownership of Land in South Africa by Foreigners is short-sighted in asking for an immediate moratorium on foreign ownership of South African property, says Niël Cronje, CEO of Engel &Völkers South Africa. “It would be extremely rash to make such a decision, when the Panel itself cannot quantify to what degree foreign nationals own property in South Africa. Without real statistical support, which the panel admits it is lacking –implementing such a moratorium is going to send a destructive message to foreign investors, something that the country can ill afford rightnow,” he says...

>> Software at its best!

We are constantly look for avenues to advertise the properties of our CyberAgent users and will continue doing just that. Our newest avenue, www.g.co.za, one of South Africa's top property search engines.

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:
Eastern Cape Freestate Gauteng Kwazulu Natal Mpumalanga North West Northern Cape Northern Province Western Cape

To Rent Property:
Eastern Cape
Gauteng Kwazulu Natal North West Western Cape


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