Property News |
24 June 2011
The property industry must be handled with gloves as analysts anticipate a rate hike in November this year or else in January next year. However a hike in the interest rate is not the only factor.
In essence, the market moving in a recuperative mode. Some pockets of activity are visible but fragility remains a national constant. In the medium price segment supply remains high while demand is stubbornly soft. In the 12 months to January 2011, 161 000 residential properties worth R140 billion, exchanged hands. This is 35% down on 2007s numbers when 246,215 properties, worth R211 billion were transacted. Our 12 month moving average price of R869,565 is just about R100k lower than the 2010 average for properties between R300k and R5m. A number of risks to recovery in the market remain. Highly-indebted consumers along with the reality of rate hikes as high as 2% in 2012, leaves a pool of somewhat diffident buyers. Yet many sellers in a financial vice-grip, capitulate after having their house on the market for 4 months, 6 months or longer. Serious bargaining, akin to flea-markets, drives prices down so that less than 15% of sellers achieve their asking prices. This according to Dieter Deppisch, Head SAPTG/Evalute.
Headlines: South Africa, whose land tenure system has been in the past described as a ticking time bomb, is moving to put controls on foreign access to the resource.
The government is soldiering on with plans to restrict foreign land ownership in the country and to prescribe conditions for land use to keep South Africa's prime land relatively cheap by international standards from being snapped up by foreign buyers who can then push prices higher. SA: the land war continues
Market news: There has been a significant increase in the percentage of property purchases being made with cash rather than home loans in the past two years but not all these buyers are investors snapping up buy-to-let bargains in a down market. An increasing number, says Berry Everitt, MD of the Chas Everitt International property group, are people who have been made extremely debt-averse by the recession and who, with cash in hand from savings, investments or perhaps the sale of an existing property, want to own a bond-free home. BIY could be next big thing in housing
Property Count: 24/06/2011|
|SA: the land war continues |
South Africa, whose land tenure system has been in the past described as a ticking time bomb, is moving to put controls on foreign access to the resource...
|BIY could be next big thing in housing|
There has been a significant increase in the percentage of property purchases being made with cash rather than home loans in the past two years but not all these buyers are investors snapping up buy-to-let bargains in a down market...
|Apocalypse Now? ( June 2011)|
The South African Property Transfer Guide (SAPTG) has decided to leave its Property Clock unchanged this month, at 20 minutes to the hour...
|Property market remains conducive to new home buyers|
Residential house prices in South Africa fell slightly in May from a year earlier, according to latest statistics recorded by ooba - South Africa's leading bond originator - however, the environment remains conducive to new homebuyers with lenders continuing to relax their lending criteria...
|Home carnage continues|
Ask any estate agent at any time if now is the right time to buy a home and the answer will be affirmative, with all the obvious reasons being offered, such as: it is a buyers' market, rather own your home than rent, the market is turning, it's a good investment, and so on...
|Homeownership Rent or buy?|
Estate agent principals, says Tony Clarke, MD of Rawson Properties, have always emphasised the sense of self-worth and stability that owning a home gives to a family, especially one for which this is a new experience - and this, he says, is a wholly valid concept...
|Safe as houses Property as an investment option|
Owning a property is a viable investment and has proven over time to be a major factor in the building of personal wealth. Well researched property investments have allowed many savvy buyers to live out the lifestyle of their dreams...
|CPA's impact on property|
The new Consumer Protection Act (CPA), which came into effect on 1 April 2011, could see property sellers and estate agents exposing themselves to great risk should they attempt to market and sell a property without letting a buyer scrutinise all relevant documentation prior to the signing of a sale agreement...
|CPA affects direct marketing|
In the real estate world it is an accepted fact that no residential property marketing company will ever flourish if it neglects its stock canvassing...
|RE/MAX One encourage green living|
The state of our planet has been a hot topic of conversation in recent years, and there are numerous projects underway in an effort to save Earth....
|'Sleeping' with the enemy|
For those businesses who prefer not to formally engage tenant representative firms because they choose not to sign formal contracts / agreements, answe rthis...
|Eight vital lease clauses|
Whether you're a landlord or a tenant, you should have a written lease and make sure it contains certain essential clauses...
|Paying interest on levy arrears|
The Sectional Title Act states that one of the key functions of a body corporate is to set up a fund for the repair, upkeep, control, management and administration of the common property. For this reason, owners or members are required to make contributions to this fund called levies...
For Properties |
Search for property in your area
the Area |
The areas we are going to take a closer look at
this week are;
- Plettenberg Bay
- Cape Town
the area 1 - Plettenberg Bay|
Plettenberg Bay is definitely known for its beauty and unspoiled sandy beaches. Plett, as its known by the locals, is absolute bliss for nature lovers and property investors looking for a tranquil setting among indigenous forests and a mountainous backdrop, says Cheryl Anley, Broker/Owner of RE/MAX Prime Properties, which services the Plettenberg Bay area...
the area 2 - Cape Town|
Cape Town boulevard to be renamed to honour Mandela
Cape Town mayor Patricia de Lille made the announcement to loud applause from the entire council chamber yesterday...
|In the area 3 - Lakeside|
Security Estate planned for Lakeside
A 17 700m2 erf in Lakeside, nestled immediately below Boyes Drive has recently been subdivided into 22 single unit residential properties that will form part of the Klein Welgemeend Security Estate...
the editor |
Title:South Africa Experiments With Houses Made of Sand
From: Andy Strydom
Any info you may require on SandBag building please refer to www.ecobuilders.co.za
Send your viewpoints to firstname.lastname@example.org
|Jozi's inner-city renewal on track|
Johannesburg's CBD, Braamfontein and Newtown nodes are showing significant evidence of inner-city renewal, with business sentiment and perceptions of the areas improving over the last couple of years...
|Capital Gains Tax|
Any person buying a South African property valued at R2 million or more from a non-resident (i.e. a person who is not an ordinary resident) must take note that in terms of Section 35 (a) of the Income Tax Act he, the purchaser, carries full responsibility for seeing that a specified percentage of the purchase price is withheld to cover the Capital Gains Tax on the property...
|Informative talks for those interested in becoming estate agents|
Dianne Brock, who since February this year has headed up the Western Cape Institute of Estate Agents Property Placements Division, has arranged a series of monthly talks introducing those interested in a career in property selling to what the position really involves -and what qualifications are currently necessary...
|700 new trees for Motaganeng|
As part of its commitment to keep development green at the new residential estates in Burgersfort, Cranbrook Property Projects has recently planted hundreds of new indigenous trees...