Weekly Property News
Friday, 25 September, 2009

We all celebrated Heritage Day this week but what is Heritage Day?, The day is one of our newly created public holidays and its significance rests in recognising aspects of South African culture which are both tangible and difficult to pin down: creative expression, our historical inheritance, language, the food we eat as well as the land in which we live. If you are not yet part of the South African culture and if you have not yet found your property under the Southern sun now is the time to do so. The property market is right to buy!

Headlines – The repo rate to stay as is! OUTGOING Reserve Bank governor Tito Mboweni was among several world finance experts who did not provide adequate leadership to prevent the global finance crisis, former president Thabo Mbeki said this week. Mbeki was speaking on the "effective exercise of leadership" and the future role of the youth at the University of the Witwatersrand, in Johannesburg. Mbeki said most economists failed to predict the global financial crisis, and quoted from speeches delivered by the chairman of the US Federal Reserve, Ben Bernanke, in April this year and Mboweni, in March this year. "On 13 March 2009, the outgoing Governor of the South African Reserve Bank, Tito Mboweni, went further to say: 'The global financial system is a finite entity, and although risk can be passed around, it does not disappear. (Business Day) Was keeping the repo rate as is not a mistake for the property industry Mr Mboweni? Will we see a rate cut next month?

Market update: Generally we are seeing signs of renewed interest and increasing activity across all sectors of the market - with some areas already experiencing a shortage of stock. Even within the challenging market conditions there continue to be a number of highlights. "Boo," cries Andrew Golding

Marketing focus: Property websites receive record number of visits. You can nominate our property portal CyberProp.com for the 2009 E-Commerce awards as your favorite property portal. Nominate Us Now

The editor

In This Issue
Featured Property

Western Cape, Calitzdorp

Property Type: Smallholdings | 3 bedrooms | 2 bathrooms

CyberProp Property Count: 18/09/2009

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Properties for Sale: 135,491
Properties to Rent: 10,652

Real Estate News International

International news - House Hunting in ... Australia
A four-bedroom 1937 house in suburban Perth, Australia, is on the market for 1.495 Australian dollars ($1.3 million)...

Local News

"Boo," cries Andrew Golding
Rate cut was needed to stimulate "badly depressed" market.

A reduction in the repo rate would have helped provide a catalyst to stimulate a badly depressed housing market...

It's property time!
The Reserve Bank has probably cut interest rates for the last time this year, which means it is time for cautious or hesitant home buyers to take the leap and enter the market, said Brian Falconer, CEO of Colliers Residential...

Banks ease up on lending
The combination of economic improvement and rate cuts led FNB to believe that the worst of house price deflation had probably taken place, thus paving the way for mild relaxation on loan-to-value limits (i.e. lower deposit requirements)...

Property phoenix rising
Two well-known estate agencies are reporting a surge in sales, pointing to the possible end of the downturn...

South Africa property news: 600 homes to be auctioned
Over 600 homes will be auctioned at a whopping South Africa property auction to be held next month...

Auctions not the best way to achieve a true selling price for your residential property, says Mike Greeff
Since the start of the recession South Africa’s auction groups have significantly increased the number of residential homes that they sell – and they have recently been pushing hard to increase further their share of this market..

Intagible factors sometimes make it difficult to value a home
Professional property valuers, says Anton du Plessis, CEO of Vineyard Estates, can be invaluable in establishing the correct price of a home for sale – but...

Tony Clarke urges first time homebuyers to get moving
Potential first time homebuyers should right now be doing everything in their power – begging, borrowing, canvassing their banks, their relatives and their employers – to find the 10 to 15% deposits required to buy a home, says Tony Clarke, MD of Rawson Properties...

"We deserve every cent" - estate agent
A recent Supreme Court judgment has once again underlined the risks involved in buying a property voetstoots, or “as is”...

First annual world green building day
The Green Building Council of South Africa (GBCSA) will be participating in the first annual World Green Building Day on 23 September 2009 which will see green building councils worldwide hosting events to highlight the importance of green building...

News From

News from Kenya
Kebs backs use of plastic water pipes in construction.

Property developers to benefit following the approval of plastic water pipes by the standards regulator...

Focus On

Focus on Calitzdorp, Western Cape, South Africa
If the Little Karoo of old still lives on, then its spirit resides in Calitzdorp - lingering in some vista of loft-doored cottages amongst orchard blooms. Calitzdorp captivates the character of a small Karoo community and its architecture...

>> View Properties in Calitzdorp
>> View Properties in the Western Cape

Chas Everitt Home MakeOver

Chas Everitt plans extreme makeover for children’s home

The Chas Everitt International property group is gearing up to give a section of the Durbanville Kinderhuis in Cape Town an extreme makeover in October.

This follows the hugely successful revamp of the Kid’s Haven on the Gauteng East Rand last year and forms part of the group’s community involvement programme...

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To the editor

What is the right time of year to sell a home?

From the editor:

All estate agents will testify that one of the questions they are most frequently asked is,

“What is the right time of year to sell a home?”

“Generally,” said Anton du Plessis, CEO of Vineyard Estates, “at the Cape the perception is, rightly, that spring and early summer are the times when a home will look best and attract the highest offers.”

“However,” he added, “I have until this year often convinced people that they should put their homes up for sale in winter because in that season there will be far less stock available and therefore less competition– and this, too, is a wholly valid argument.”

This winter, he said, he personally has had many good sales – but other agents have struggled because the traditional stock scarcities have not been evident. Much stock that came onto the market in 2008 is still unsold and helping to keep supply high and consequently prices low. Recently, therefore, for the first time in his 21 year career, he has been following the trend and advising people to wait for October before putting their homes up for sale.

Southern Suburbs areas such as Upper Fernwood, which are high up, back onto the mountain and get little or no evening light, and have excessive rainfall and cold temperatures, said du Plessis, really do “present themselves badly in winter” whereas some appear spectacular in Summer. (He did, however, achieve a sale here at R4,1 million in August – to a buyer on transfer to Cape Town – and, he said, there will always be such instances.)

“There is, therefore, no perfect month in which to launch a property. Each case and each property must be evaluated on its merits and individual attributes,” said du Plessis

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