Weekly Property News
25 August 2012
FROM THE EDITOR

Dear Reader

The surprisingly low inflation numbers for last month provide the Reserve Bank with a bit more room to at least consider making a change to rates, after surprising all of us at the last meeting. It all depends on the Bank’s reading of economic developments in Europe and the US over the coming weeks.

Headlines:The window of opportunity for transferring residential property in South Africa from a company, cc or trust into the name of an individual is fast closing!

At one stage parties buying properties in South Africa and in particular properties from a developer would make a commercially wise decision to purchase such property in the name of a company or a close corporation.

Market News: A great deal of bond originators have recently released statistics showing that home loan grants have increased by 20% year on year. This is a definite indication of the property market picking up. However, even though the grants have increased, the number of applications being declined has also increased.

In an attempt to better understand the reasons why South Africa’s banks across the board reject a fairly highly proportion of the mortgage bond applications that are submitted to them, the Rawson Property Group commissioned former ABSA bank Regional Manager, Mike van Alphen, to go through a large sample of Rawson Finance’s July bond applications and analyse the ostensible reasons for their failure.

For first-time buyers taking their initial steps towards purchasing a property, there are a few essential aspects that should be considered beforehand, such as whether they are ready for the investment and have researched all options available to them says Adrian Goslett, CEO of RE/MAX of Southern Africa

Enjoy!
The editor

In This Issue

KwaZulu Natal, Umhlanga, South Africa
House:
Exceptional and sensational, this modern architectural masterpiece has top class finishes throughout, delivering functionality and luxurious comfort of living. Generous interiors and plentiful outdoor spaces allow for large scale entertaining.

News

Why the SARB won't cut rates

The surprisingly low inflation numbers for last month provide the Reserve Bank with a bit more room to at least consider making a change to rates, after surprising all of us at the last meeting. It all depends on the Bank’s reading of economic developments in Europe and the US over the coming weeks...


Deadline to transfer SA property from company to individual name without duty approaches!

The window of opportunity for transferring residential property in South Africa from a company, cc or trust into the name of an individual is fast closing!

At one stage parties buying properties in South Africa and in particular properties from a developer would make a commercially wise decision to purchase such property in the name of a company or a close corporation...


Latest FNB Gauteng Property Review still shows growth in prices - but at a slower rate

A statement made earlier this year by the Rawson Property Group's Managing Director Tony Clarke to the effect that the South African economy and therefore the South African property market, while less affected than many countries worldwide by the serious Eurozone global economic problems, cannot expect to shrug off the effect that these will have on South Africa appears to be confirmed by the latest (15th August 2012) FNB Gauteng Residential Property Review....


Rising costs strengthen home prices

A quick look at the latest available building statistics shows how the pre-owned sector of the housing market is benefiting from rising building costs...


South African house prices still compare favourably with those of most other countries

Tony Clarke, the Managing Director of the Rawson Property Group, who returned recently from a three week trip to the USA, said on his return that he was surprised to find that South Africans involved in property trading have not yet realized just how satisfactorily the local residential market is performing, considering the difficulties it has had to overcome, when it is compared to many of the western world's residential markets...


The more, the merrier

While the existing market conditions still largely favour buyers, as the supply of property inventory decreases, we could soon see a trend of multiple offers on well-priced homes that are in good condition, says Adrian Goslett, CEO of RE/MAX of Southern Africa....


Buying your first property

For first-time buyers taking their initial steps towards purchasing a property, there are a few essential aspects that should be considered beforehand, such as whether the buyer is ready for investment and well researched on all the types of options available to them says Adrian Goslett, CEO of RE/MAX of Southern Africa...


Rawson survey uncovers main reasons for banks' rejecting bond applications

In an attempt to better understand the reasons why South Africa's banks across the board reject a fairly highly proportion of the mortgage bond applications that are submitted to them, the Rawson Property Group commissioned former ABSA bank Regional Manager, Mike van Alphen, to go through a large sample of Rawson Finance's July bond applications and analyze the ostensible reasons for their failure...


Why banks reject bond applications

And what you can do as a prospective homeowner to avoid this.

JOHANNESBURG – While the rate at which banks reject bond applications remains relatively high, there are ways that you as a prospective homeowner can ensure you don’t become just another statistic...


Be savvy when it comes to bond finances

A great deal of bond originators have recently released statistics showing that home loan grants have increased to 20% year on year. This is a definite indication of the property market picking up. Even though the grants have increased, the number of applications being declined has also somewhat increased...


It pays to check if your home is over-insured in today's market

With cash flows frequently coming under stress due to the tougher economic circumstances, South African homeowners, especially those who took out their insurance policies on their home several years ago, should take the trouble to check whether they are not now paying monthly installments that are far too high - for the simple reason that their home is, in fact, now over-insured. This was said recently by Bill Rawson, Chairman of the Rawson Property Group...


Do you really want a pool?

At this time of year, homeowners often think about putting in a pool in time for summer, and there are many good reasons to do so, but you shouldn't count on it adding much value to your home....


On the ground challenges facing property development

Property investment in commercial and industrial markets offers a number of challenges that investors should be aware of as this can be a complicated business. A sound property strategy is vital when deciding on a suitable location for new business operations and making the decision to invest in industrial or warehousing space......


The Pros and Cons of Investment in Commercial Industrial Markets

There are many challenges facing property investors, and this requires a solid property strategy when deciding on a suitable site for new business premises and making the decision to invest in commercial industrial or warehousing space...

Focus On

Umhlanga, KwaZulu Natal, South Africa

Umhlanga is one of the most popular beach resort destinations on the east coast of South Africa. The bathing is safe and the warm Indian Ocean waters wash one of the most beautiful coastlines in the world...

>> Properties in Umhlanga
>> Properties in KwaZulu Natal


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;

  • Pretoria West
  • Nelspruit
  • Cape Town
In the area 1 - Pretoria West

Pretoria West now very much in with emerging black middle class

Unlike many of South Africa's estate agencies, the Rawson Property Group has never been reluctant to try and establish franchises in areas where the vast majority of buyers are 'disadvantaged'. It has to be admitted, however, that such areas can and do present an estate agency with a range of challenges not usually encountered in areas where property trading has a long established history and people are familiar with property law...


In the area 2 - Nelspruit

Prime cut prods Nelspruit market

IThe recent announcement that the prime interest rate had dropped to 8,5% has had a rapid effect on demand for property in Nelspruit.

Juan Botha, owner of the local RealNet franchise, reports that attendance at show houses increased by 60% and internet enquiries by at least 40% in the first week after the announcement. "The lower rate boosted prospective buyers' confidence in property and those who have been saving for deposits are now in a good position to enter the market..."


In the area 3 - Cape Town

Cape Town residential prices compare very favourably with those of almost all global cities favoured by tourists

Many of the Rawson Property Group's Cape Town estate agents have repeatedly stated that Cape Town property prices at present still offer exceptionally good value and this appears to have been given credence by a report by the respected Global Property Guide, which compares the price per square metre - and other comparative figures - of homes in the world's 60 most expensive cities..."


To the editor

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


Local news continue

Auctions add to commercial property lustre

Johannesburg, 20 August 2012: As the global economy continues to grapple with sluggish growth and challenging conditions, the commercial property sector has emerged as a strong performer, especially in South Africa. In fact, for the last 12 months South African Listed Property offered the highest return of any asset class in 2011...


Is Your Real Estate Agency Hot, or Not?

Someone once said that customer service is not a department, it's everyone's job. Unfortunately good customer service tends to be hard to find. According to a recent survey conducted by American Express; more than 60% of US respondents stated that customer service was important but, only one third believed they actually get it...


ST schemes will need a special levy at some stage

There is one issue that can be guaranteed to cause dissension among members of sectional title schemes and that is the raising of special levies for rescue or repair purposes, says Michael Bauer, general manager of the property management company IHFM...


Follow the correct procedures when voting at General Meetings

A difficult situation arises when it comes to voting at general meetings in sectional title schemes and the correct procedures have not been followed with regard to proxies or if those present are excluded from voting for various reasons, says Michael Bauer, general manager of the property management company IHFM...


CyberProp Property Count: 24/08/2012

Search Now

Properties for Sale: 123,712
Properties to Rent: 10,349

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

Get in touch