Weekly Property News
23 September, 2010

Dear Reader

Jobs in South Africa's formal, non-agricultural business sector increased by 41 000 employees in the second quarter of 2010, says Statistics South Africa (Stats SA). In its June 2010 Quarterly Employment Survey on Tuesday, Stats SA said the number of employees in the non-agricultural sector increased from an estimated 8 086 000 workers in March 2010 to an estimated 8 127 000 employees in June 2010. Stats SA attributed the quarterly increase to employment reported by the community, social and personal services industry, insurance, real estate and business services industry, among others.

Gross earnings paid to employees in the quarter ended June 2010 amounted to R296 526 million, showing a quarterly increase of 1.8 percent compared with the quarter ended March 2010. This was also an annual increase of R37 699 million, compared with the quarter ended June 2009. The increases in gross earnings is for sure good news for the real estate industry. - BuaNews

Headlines: THE credit profile of South African consumers, which deteriorated for a 10th successive quarter in the three months to June, was poised to show a pick up, the National Credit Regulator said yesterday. Credit profile of consumers worsens, but not all is bleak

Market news: The third quarter FNB Estate Agent survey continues to depict home buyers as having the upper hand over the seller, or at least that group of home buyers that can acquire the finance… On average, the sample of estate agents surveyed in the third quarter perceived residential demand to have weakened for the second successive quarter, after a previous strengthening trend that started back late in 2008. On a scale of one to 10, the agent demand activity rating declined from 5.96 to 5.66. While seasonal factors can play a role, year-on-year growth in the activity rating also declined from a previous quarter’s +24.4 percent to +0.2 percent in the third quarter, suggesting that the slowdown is more than just seasonal. 'Still a buyers' market'

Focus on, South Africa is home to eight of the world's official heritage sites, as determined by Unesco's World Heritage Committee. For the next eight weeks we will focus on these heritage sites. Heritage sites is chosen for its cultural significance or natural beauty and could be a coral reef, mountain range, wetland, desert, architectural development, city or even a cultivated landscape. Some of the most famous World Heritage Sites are the Old City of Jerusalem and its Walls, the Pyramids of Giza, the Statue of Liberty, the Tower of London, India’s Taj Mahal, the Great Wall of China, Australia’s Great Barrier Reef, the Serengeti Plains of Tanzania and South Africa’s Robben Island. (www.safarinow.com)

The editor

In This Issue
Featured Property

Garden Route, Knysna, The Heads
This spectacular property boasts 8 en suite bedrooms, exclusive finishes and unparalleled views to the Knysna Heads. Extras such as staff accommodation, study, built in braai and pub, laundry, sauna in main bedroom and 3 spa baths make it well worth viewing. Sip cocktails around the pool while you enjoy the sunset over the Heads, make an appointment to view this unique property soon!

CyberProp Property Count: 23/09/2010

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Properties for Sale: 145,257
Properties to Rent: 10,478

Local News

Nothing sells second homes like nostalgia

Good ideas come at you from weird places. Recently, I was reading the Wall Street Journal and came across a story -- no, not about real estate -- but about a bride who decided to get married at a summer camp called Camp Highlander in the mountains near Mills River, N.C...

'Still a buyers' market'

On average, the sample of estate agents surveyed in the third quarter perceived residential demand to have weakened for the second successive quarter, after a previous strengthening trend that started back late in 2008...

Credit profile of consumers worsens, but not all is bleak

The proportion of credit users with records marked as being in “good standing” slipped to 53,1% in the June quarter from 54% in March...

Psychological boost of low interest rate

Recent newspaper accounts have covered in full the effect the latest interest rate drop could have on the property market – and the consensus of opinion is that the 0,5% drop is, in rand terms, really too small to make a significant difference...

10 tips for investing in a leisure property

The year-end holidays are drawing closer and more and more people are looking forward to enjoying some sun, sea and surf. There is no doubt however, that while they are enjoying their end-of-year break, many will be tempted to buy a holiday home or apartment...

Growing confidence in South Africa’s Cape region real estate market, according to experts

Confidence in the real estate market in the Cape region in South Africa is growing and has been helped by the recent football World Cup which focussed interest on the area, it is claimed...

How safe is your house from scammers?

Is your house being sold out from under you by Nigerian scammers as you read these words?

It's that fear the Police Major Fraud Squad, Landgate and the Real Estate Supervisory Board were seeking to ease as they attempted to soothe public concerns about the con that resulted in one man's half-million dollar house being sold without his knowledge or consent...

It’s perfect pool time for HOAs

With summer on the doorstep, now’s a good time for the Home Owners’ Associations (HOAs) in estates with communal swimming pools to focus on the maintenance and safety measures that will ensure a season of uninterrupted fun and enjoyment...

Putting a value on the stand

How important is the stand on which a house is built? Or rather, what percentage of the purchase price can be attributed to the land component...

Home staging can give a false impression

The South African residential home market is witnessing the advent of what in the UK and the USA are known as “home stagers”...

Coastal auctioning gains momentum

The auctioneering industry is showing that demand for coastal properties is on the rise as more and more homes along the South African coastline are being sold via the auction mechanism...

Focus On

World Heritage Sites in South Africa

South Africa is home to eight of the world's official heritage sites, as determined by Unesco's World Heritage Committee. This is is not surprising given the spectacular and diverse culture, nature and wildlife that South Africa offers its tourists...

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News on Stilus

Stilus sectional title Levy payment policy has had a warm welcome from bodies corporate

This senior staff of the new Santam-backed insurance policy, Stilus (Sectional Title Insurance Levy Security), report that in the first six weeks since the launch on the 10th of August they have already signed up over 1% of the 800 000 sectional title units in South Africa today...

To the editor

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Local News Continue

Spruce up your bathroom for a quicker sale

Consumers who want to sell their homes urgently should take a good look at their bathrooms.

Uninspiring bathrooms can be a deal breaker, says Richard Gray, CEO of the Harcourts Africa property group...

Sale and leaseback can unlock opportunity

Businesses that have capital tied up in real estate, have an intriguing option open to them, selling the property and leasing the facility back from the new owner...

Avoid defaulting tenants

A recent report has shown that this year nine percent of SA tenants in residential properties are not paying rents at all and 28 percent are paying late...

Buying sectional title? Get the full financial picture first

Given the current economic climate, buyers really need to do their homework on the financial standing of the complex if they are buying into a sectional title or cluster scheme...

Dale Capital go ahead with Mauritian hotel

Dale Capital, says Norman Noland, the group’s executive chairman, have no intention of holding back on their developments in the hotel and leisure sector – despite clear signs that the global economy will take time to recover...

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