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Weekly Property News
23 September 2011

Dear Reader

The biggest news this week for property owners was not the Springboks win over Namibia on Thursday but the decision of the Reserve Bank to leave the repo rate unchanged. This might have been a disappointment for many property owners as most where expecting a rate cut. Could the weak performance of the rand had something to do with the Reserve Bank’s decision?

It seems that the price of houses are still struggling. Hopefully that’s not the reason why Transport Minister Sibusiso Ndebele intends to ask the cabinet to reduce the maximum speed limit to 100 km/h.

Headlines: With some economists foreseeing a possible second dip in the market, South African consumers will welcome the news that the interest rate has not increased this month as predicted earlier this year. Although house prices continue to reflect the strain of a recovering buyers market, demand has increased and consumer confidence has remained fairly steady in the first three quarters of this year. Interest rate remains unchanged at 9%

Market news: Real residential property prices fell by a real (i.e. taking July inflation of 5.3 percent into account) 4.7 percent in August, according to the latest results released by mortgage originator ooba. "August is the fourth consecutive month that we have witnessed an increase in purchase price amongst first time buyers, which is encouraging," says Saul Geffen, CEO of ooba. "With rates still standing at a 30 year low, improved affordability has enabled many first time buyers to take the leap." Home prices still falling

Investing in property 101 is the seventh article in a 12 part series. The question is, “Is a home an investment”? Don’t miss reading this article if you are not sure about the answer.

The editor

In This Issue
Featured Property

Free State, Sasolburg, Vaal River
Bed: 4 | Bath: 3
Prime river estate!

CyberProp Property Count: 23/09/2011

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Properties for Sale: 144,801
Properties to Rent: 10,478

Local News

Interest rate remains unchanged at 9%

At the conclusion of this month's Monetary Policy Committee meeting, Reserve Bank Governor Gill Marcus has once again announced that the interest rate will remain unchanged at 9%...

Home prices still falling

Real residential property prices fell by a real (i.e. taking July inflation of 5.3 percent into account) 4.7 percent in August, according to the latest results released by mortgage originator ooba...

Debate on intellectual property bill postponed

The debate in the National Assembly on the Intellectual Property Laws Amendment Bill, scheduled for today, was postponed at the last minute on technical grounds and is now likely to take place late next month...

To build or buy, that is the question

Those looking for a new home often ask: what is the better option, to build a home from scratch or to buy an existing one?

'Slums are here to stay'

Urbanisation is becoming increasingly difficult to manage as municipalities restrict new informal settlements, an urban development expert said on Wednesday...

Investment advice

Talking at Stellenbosch in a series of “Investment Advice” evenings being organised by Rawson Properties, Tony Clarke, Rawson Group MD, told the 50 people present that history will show that now was a great time to buy into property...

Investing in property 101

This is a topic that most people love talking about, especially those that own property that has increased in value over the years...

Keep your friends close, and your enemies closer

If certain commercial property consultants are to be believed this may be the way to go for Aggrieved Residents of Dunkeld, who penned an angry public letter last month...

'Mind the rents and the rands will take care of themselves

Current market conditions and the banks’ strict lending criteria have created a strong demand in the rental market in Fourways, says Dieter Harck, Broker/Owner of RE/MAX One Hundred which operates in the Johannesburg suburb of Fourways and surrounding areas...

Landlords do not insist on 10% annual increase right now

Talking recently at the inauguration of Rawson Rentals, a new Rawson Properties franchise division set up to grow and support rental franchises countrywide, Tony Clarke, MD of the Rawson Group, warned landlords that the current “dire” economic situation has created a scenario in which landlords who insist on the usual 10% annual increases could find themselves losing tenants fast...

Cape Town aims to give a million residents a say in shaping its five-year plan

In the City of Cape Town's most "ambitious" public participation campaign yet, more than one million residents are to be targeted for their input during its latest five-year development plan...

Affordable CT beach homes

The image of luxury homes backed by mountains and overlooking a sparkling Atlantic Ocean is synonymous with Cape Town...

Focus On

Sasolburg, Free State, South Africa

Sasolburg is situated in the northernmost corner of the Free State Province on the southern banks of the Vaal river, and forms part of the Vaal Triangle (Vanderbijlpark, Vereeniging and Sasolburg regions)...

>> Properties in Sasolburg
>> Properties in the Free State

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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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In the Area

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

  • Parkmore
  • Atlantic Seaboard
  • Burgersfort
In the area 1 - Parkmore

Parkmore, the residential area to the west of the Sandton CBD, is enjoying substantial rejuvenation thanks to an influx of younger buyers...

In the area 2 - Atlantic Seaboard

Even before the summer “season” gets under way in Cape Town, the appetite for big-ticket properties on the Atlantic Seaboard has re-emerged...

In the area 3 - Burgersfort

The platinum mining boom in the area around Burgersfort in Limpopo has created some excellent opportunities for buy-to-let investors...

To the editor

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

Local news continue

New ombud service key to effectiveness of ST

Many of those trustees now controlling sectional title bodies corporate may not as yet be aware that significant changes will soon be made to the Sectional Title Act as a result of new amendments that will come into being soon and will affect the management of many communal schemes...

RE/MAX uncorked

RE/MAX of Southern Africa, which was ranked as the largest real estate brand in the country by Finweek earlier this year, exceeded expectations in both market share and sales turnover, as indicated by the solid group results for the first six months of the year which were celebrated at its Broker/Owner conference held at Spier last month...

GBCSA Case Study: Existing Building Retrofits

The GBCSA is proud to announce a last minute addition to an already fantastic programme for our 4th annual Convention and Exhibition being held at the CTICC on the 27th and 28th of October 2011!

CyberAgent, the real estate software solution

CyberAgent Anywhere Introduction Video

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

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