Weekly Property News
Friday, 23 October, 2009
FROM THE EDITOR

Headlines: In the headlines this week the decision of the Reserve Bank's (SARB's) Monetary Policy Committee (MPC) that decided to keep the repo rate unchanged at 7.0%. This is in line with consensus expectations in the market place BUT not what homeowners wanted to hear. However economists still stay positive and believe that there is one more interest rate cut coming. When? That is the question.

Market update: The property market is for sure showing a positive upswing. Most of estates agencies using our CyberAgent software reported that sales are reflecting a recovery.

A well-attended massive auction sale of property shows that the South African property market is thawing, Alliance Group auctioneers said on Wednesday. The auction of 640 individual properties took place in Sandton, Johannesburg on Tuesday. According to the auctioneers, this was the first time in the history of South Africa that so many properties had gone under the gavel at one time. Sales reflect recovery

Enjoy!
The editor

CyberProp Property Count: 16/10/2009

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Properties for Sale: 135,664
Properties to Rent: 10,581

In This Issue
Featured Property

Western Cape, Hermanus, Vermont

Property Type: House | Bed: 5 | Bath: 4

Operating as upmarket guesthouse. Central reception area , 2 sea-facing bedrooms with lounge and en-suite bathroom, 2 en-suite bedrooms, office and kitchen area. Separate cottage with lounge, dining room, study and en-suite bedroom. Salt chlorinated pool.

Real Estate News International

Base rate rise 'will stabilise Australian property market'

Australia's property market will benefit in the longer run from the recent interest rate rise, it has been claimed...


Local News

South Africa 'set for major investment'
South Africa is set for major infrastructure investment from its government, it has been reported...

Sales reflect recovery
A well-attended massive auction sale of property shows that the South African property market is thawing, Alliance Group auctioneers said on Wednesday...

Upswing in sales no myth

The last two months have confirmed the growing perception that the residential property market has passed its low point and is at last on an upswing, says Lanice Steward, MD of Anne Porter Knight Frank...


No recovery yet

The value of recorded building plans passed by larger municipalities at current prices during January to August 2009 decreased by 27.3 percent compared with the same period last year, Statistics SA said on Wednesday...


South Africa vs Zimbabwe real estate

Local looks undervalued, so why aren't we more optimistic?

It seems like Afro-Pessimism is so yesterday. Much speculation is been made about Africa as a sleeping giant with potential growth and large unreported real economies...


Homes in South Africa 'cost much less'

It is possible to get a home in a fashionable district in South Africa for a fraction of the cost of properties in London or New York, it has been suggested...


"Keep your money in SA property"

High-end properties for much less than you pay in Sydney, New York, Malibu

The rand may have strengthened and overseas property prices may have fallen, but South African real estate is still the best option for upmarket investors, says Lew Geffen, chairman of Sotheby's International Realty in SA...


Commercial property tenants in a good position

Anyone driving through the CBDs of SA’s cities, the major commercial nodes or, indeed, walking through shopping malls will become aware that vacancies are now evident on a growing scale, says Tony Clarke, MD of Rawson Properties...


400 new black estate agents for SA

Bank, Estate Agency Affairs Board, French govt join the cause of industry's racial transformation...

This White House is for sale

Mr Milani, an American-Iranian, told the Atlanta Journal: "I still do not want to sell, but I will."

"Really, I am not very political. The architect just asked, "How about I build you the White House?" and I said yes. That is the whole story...


Prepare for electrical inspection

It is, says Lanice Steward, MD of Anne Porter Knight Frank, possible to reduce the cost of getting an electrical certificate if you know what to look for before calling in the inspector...


First real estate interns qualify

The first group of estate agents sponsored by the Services Seta to gain practical experience and training as real estate interns has qualified after an intensive six-month programme...


VAT and the home or property owners association

The annual threshold for VAT was increased from R300, 000 to R1, 000,000 for ‘taxable supplies’ on 1 March 2009...


Tax is not paid on houses inherited through deceased estate

Lanice Steward, MD of Anne Porter Knight Frank, the Cape Peninsula estate agency that recently spread its wings to take in Hout Bay and Camps Bay, has drawn attention to a statement from the attorneys and conveyancers...

Focus On

Hermanus, Western Cape, South Africa

From all over the world people come to watch whales mate and calve from July to November, as Hermanus is famous for being the best land-based whale watching venue in the world...

>> View Properties in Hermanus
>> View Properties in the Western Cape


Chas Everitt Home MakeOver

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;

  • Strand & Somerset West (Helderberg)
  • Cape Town
In the Area 1 - Strand & Somerset West (Helderberg)

Helderberg property boom on the way, says Rawson Franchisee

There has, said Schalk van der Merwe, franchisee of Rawson Properties Helderberg franchise, been a notable pick up in sales in both Strand and Somerset West home sales over the last three months...


In the Area 2 - Cape Town

The Cape Town property market has been tipped as a hot investment destination by a leading South African estate agent...


To the editor
 

Send us your “real estate agent” stories as we would like to share them with our readers.

Send to news@cyberprop.com



News From

RE/MAX of SA - Announces solid growth in one of the most difficult years in real estate

Cape Town, October 16, 2009 - RE/MAX announced this week that it had sold over 400 new franchises in its global network of over 70 countries this year, and that RE/MAX of Southern Africa continues to be one of the leading markets with 15 new franchises (RE/MAX offices), which opened this year...


The only way from here is up

Adrian Goslett, Assistant Regional Director of RE/MAX of Southern Africa is pleased that worst seems to be over for the local property market...


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