Weekly Property News
Friday, 23 July, 2010
FROM THE EDITOR

Dear Reader

The SA Reserve Bank’s announcement yesterday to leave lending rates unchanged left consumers, the heavily-indebted and home owners no better off.

The Reserve Bank’s statement that the prime interest rate will remain at a steady 10% after today’s Monetary Policy Committee meeting is in line with our expectations of no movement in the rate this year. South Africa’s economy is generally in a good, stable condition, as is the property market, which has shown a slow but steady upward trend since late last year. This interest rate stability bodes well for continued growth in property sales volumes and prices for the remainder of the year; however consumers should plan now for the fact that interest rate increases are highly likely to become a reality from early 2011” Adrian Goslett, CEO RE/MAX of Southern Africa

Headlines: After a two-day meeting, the South African Reserve Bank's Monetary Policy Committee (MPC) left the key monetary policy interest rate - the repo rate - unchanged at 6,5%. As a result, banks' lending rates to the public, i.e. prime and mortgage rates, are to remain at a level of 10%. Interest rates have been cut by a cumulative 550 basis points since December 2008. Interest rates unchanged after MPC meeting

Market news: The property markets across the board are still in hibernation mode, according to the latest Rode's Report on the State of the Property Market. The lagged impact of the business cycle on the property market is especially evident in the offices segment. Property markets still hibernating

Enjoy!
The editor

In This Issue
Featured Property
Western Cape, Parow, Plattekloof
Inspiringly modern home with breathtaking views and exceptional quality. Two for the price of one! Multi Level masterpiece for two independent families. Double Volume lounge and dining room separated by dual fireplace. Open plan kitchen leads through enclosed braai patio to deck overlooking Table Mountain. 4 Beds, 4 En-Suites, 3 Car Garage just for the upper level. 4 Beds, 2.5 Baths, D/Garage on the lower level. Indoor & Outdoor pool. What more do you need?
Local News

Interest rates unchanged after MPC meeting

After a two-day meeting, the South African Reserve Bank's Monetary Policy Committee (MPC) left the key monetary policy interest rate - the repo rate - unchanged at 6,5%. As a result, banks' lending rates to the public, i.e. prime and mortgage rates, are to remain at a level of 10%. Interest rates have been cut by a cumulative 550 basis points since December 2008...


National Credit Act leniency needed

Another high profile personality in the Cape property sector has now said that until there is an easing of the National Credit Act criteria which the banks apply to their mortgage bond lending and a greater willingness to accept risk, there can be no hope of the property sector (or indeed the economy) once again flourishing...


Property markets still hibernating

The property markets across the board are still in hibernation mode, according to the latest Rode's Report on the State of the Property Market...


Launch of new insurance policy

New insurance policy can do away with unpaid levy problems

Santam has taken a major shareholding in a new company now launching a unique financial product tailor made to alleviate the serious liquidity problems experienced by South Africa’s bodies corporate in the sectional title property sector...


Residential property slowdown beckons

The 2010 World Cup has come and gone. It has brought many potential long term benefits for SA, emanating from dramatically improved perceptions of the world regarding the organizational capabilities of the country...


Consumer Protection Act will affect property marketers

Another senior member of the Cape estate agency fraternity has found it necessary to warn staff that when the Consumer Protection Act comes into full force on 25th October this year, property marketers will find themselves “in a new ballpark”...


How to give buyers a warm welcome

There's no better time than the chilly winter months to make your home seem warm and welcoming to potential buyers...


Self employed find it difficult to get bonds

A growing number of people who are self employed, with incomes dependant on fluctuating commissions, face huge difficulties in becoming homeowners, says Lanice Steward, MD of the Cape Peninsula estate agency, Anne Porter Knight Frank...


Interest in property 'sustained' during World Cup

The latest property show day attendance figures reveal that during the World Cup the activity in the residential property market in Joburg remained buoyant throughout June...


Foreign property investment post World Cup

During the Soccer World Cup South Africa did an exceptional job of showcasing the diversity and beauty it has to offer. Leading on from this epic event, the promise of foreign investment into the country is much anticipated...


World Cup benefits will be seen down the line

Anne Porter Knight Frank’s Camps Bay office fielded a number of enquiries from World Cup visitors regarding the purchase of property at the Cape and at least two of these could result in sales - but this experience was the exception rather than the rule...


Is virtual staging ethical?

Much has been said about the benefits of “staging” your home when you want to sell in order to make it appear lighter, more spacious and more appealing to prospective buyers...


Location, Location, Location - the true meaning behind it

Adrian Goslett, CEO of RE/MAX of Southern Africa, clarifies the well-known adage that the three most important factors when buying property are location, location, location...


Moving to a bigger or more up-market property?

THERE are all sorts of reasons for homeowners to contemplate moving to a bigger or more upmarket property, such as the need for more space to accommodate a new home business, growing children or ageing parents, or perhaps just the desire to live in a better area...


Know the rules before you build for yourself

In the last three to four months there has, says Rob Lawrence, National Manager of the bond originators, Rawson Finance, been a swing towards building for oneself or buying second hand and renovating or altering to achieve an improved home...


Power to the consumer

Gazetted in April 2009, with published regulation as of April 2010, the Consumer Protection Act (CPA) is a virtual “Bill of Rights”, designed to create a strong culture of consumer rights and responsible trading in South Africa. The Act makes South African consumers some of the most protected in the world...


Occupation cost is crucial

Accommodating your company’s staff is an expensive business. Research shows that after salaries and IT expenses the cost of office accommodation is generally the organisations third largest cost...


Focus On

Plattekloof, Western Cape, South Africa

Plattekloof, once part of the De Villiers Graaf family trust, is now one of the more sought after suburbs to the north of Cape Town. Lines of comparison have been drawn with Constantia’s Steenberg region with its 40 hectare golf estate, due in part to the prevalence of palatial homes built in large security estates...

>> Property in Plattekloof
>> Property in the Western Cape


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

Search for property in your area

Enter City/Suburb:

In the Area

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

  • Val de Vie, Franschoek / Paarl Valley
  • Hout Bay
  • Simons Town
In the area 1 - Val de Vie, Franschoek / Paarl Valley

The Vines is a new French style development at Val de Vie Wine and Polo Estate which is the perfect venue for the discerning buyer looking for a prestigious location...


In the Area 2 - Hout Bay

Hout Bay sectional title specialists on a growth path

Intersect Sectional title Services, the sectional title specialist subsidiary of the Spire Property Group, has recently grown their management contracts in the suburb of Hout Bay substantially – becoming regional specialist in the area...


In the Area 3 - Simons Town

Emerging middle class will boost prices in traditional Cape suburbs

Estate agents are frequently asked to tip investors on the prospects of areas – but in nine cases out of ten the answers to their questions are there for all to research and understand, says Lanice Steward...


To the editor

"Effective cause" Wording in mandates still causing arguments

Controversy still surrounds the terminology “effective cause of the sale”, which is regularly used in real estate property mandate documents, says Lanice Steward, Managing Director of the Cape Peninsula estate agency, Anne Porter Knight Frank...

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

News from from Paddocks

Capital of nature or capital punishment

The term capital in accounting terminology usually refers to expenditure which relates to purchasing or investing in or acquiring property, plant or equipment which is then used in the production of income, in other words, to make money...


Local News Continue

10 home decoration tips

It’s just the "odds and sods" that make the difference! Take a good look around your home and see what you can move to improve...


Tenant retention key in these economic times

The current economic situation being experienced in South Africa and around the world, although improving somewhat on last year, is still putting great pressure on commercial and retail property owners who are seeing significant pressure on commercial property values...


In a downturn residential landlords fare better than those in other property stock

A fundamental fact about the property market has become clear in the current near-recessionary scenario, says Bill Rawson, Chairman of Rawson Properties: in tough times the residential investor is often in a far better position than the owner of commercial or industrial property...


CyberProp Property Count: 23/07/2010

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