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Weekly Property News
Friday, 26 March, 2010

Dear Reader

Headlines: Not expected! The SA Reserve Bank's (SARB) unexpected rate cut as well as its new mandate raised certain questions, Nomura International said on Thursday. This followed the decision earlier by the SARB's Monetary Policy Committee (MPC) to cut the repo rate to 6.5 percent. "The MPC statement is somewhat more positive on growth - they now see 2.6 percent
growth this year from 2.0 percent before," Peter Attard Montalto, an Emerging Markets Economist said. "They are much more optimistic on inflation however - given currency strength and reduced food price pressures - as well as removal of uncertainty around electricity prices," he added.

Although this is too little too late, we hope that it is a turning point and that the Reserve Bank has finally listened to the debate in the ANC, COSATU and civil society and accepted the overwhelming argument that monetary policy must be guided by a mandate to promote economic growth and job creation, and not just to control inflation," Cosatu said in a statement.

Us in the real estate industry say, thank you!

Market news: Property watchers who think that South African residential property rentals tend to track those of the big western cities will be interested to learn that Anne Porter Properties' London Associates, Knight Frank, report that Central London prices rose 3,2% in February. "This," says Lanice Steward, MD of Anne Porter Knight Frank, "was the strongest rate of growth in a single month since August 2007 - a sure sign that conditions are
improving at last." Central London residential prices rises could point to big rises in SA Property

The editor

In This Issue
Featured Property
Badplaas, Mpumalanga

Pictures of some houses within the estate used to give an example of the quality of properties been developed..

CyberProp Property Count: 26/03/2010

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Properties for Sale: 126,781
Properties to Rent: 8,791

Local News

What the Reserve Bank’s rate cut means for your pocket

Moneyweb takes a look at what it means for your home loan and savings accounts.

JOHANNESBURG - The Reserve Bank unexpectedly announced a 0.5% cut in the repo rate. This means a drop in home loan payments, but on the flip side a cut in your cash interest rates...

Property more affordable

Thursday's cut in interest rates will make property more affordable, especially for buyers in the lower to mid-price levels, a realtor said. In addition the cut would provide additional support for a gradual relaxation in bank lending criteria, Jawitz Properties CEO Herschel Jawitz said in a statement...

South Africans, Russians lead Gold Coast property raids

Russians and South Africans are joining the foreign stampede for property on Queensland's glitter strip, new real estate figures show.

Overseas buyers injected $407 million into the state's residential market last financial year, of which 45 per cent was spent on the Gold Coast..

Central London residential price rises could point to big rises in SA property

Property watchers who think that South African residential property rentals tend to track those of the big western cities will be interested to learn that Anne Porter Properties’ London Associates, Knight Frank, report that Central London prices rose 3,2% in..

Stamp Duty move no remedy for UK property market

Mike Smuts says the Chancellor missed an opportunity to create more jobs and add prosperity in the housing sector.

On Wednesday, in his last Budget speech before the General Election, Alistair Darling unveiled new measures which he claimed would offer nine in ten first-time buyers a helping hand onto the property ladder..

Removal of stamp duty for first-time buyers welcome

The changes to Stamp Duty announced today amount to a tax on London - only 44% of property sales will slip under the new zero-rate band compared average of 74% in the rest of the country. In addition well over 60% of all £1m+ transactions affected by the new 5% rate take place in the capital..

Rising sales volumes confirm market upturn

The SA residential property market is now clearly emerging from the slump, with the latest available Deeds Office stats showing a steady monthly increase in the number of home transfers being registered since August last year (see graph).

Estate home value growth depends on good management

If you’re buying a home in an established estate or cluster development, it is important to bear in mind that the future value of your property will depend not only on its individual location and condition, but also on how well the development as a whole is managed by the homeowners’ association (HOA).

R250 million sold on auction floors

As the auction halls in these glamorous hotels filled up to a bursting stature of over 400 people each, Auction Alliance’s team, led by master auctioneer and company CEO, Rael Levitt, gave full throttle during the course of the proceedings..

Inspecting without asking

Does a building manager have the right to enter and inspect a privately owned apartment in a sectional title scheme without consent from the owners, especially if the owners are living there at the moment?..

Don't let energy vampires suck you dry

Your modern TV with remote control may well be using more electricity during the 18 hours a day that it’s turned off than it does while you or the kids are watching it...

Claim for damaged goods?

David Bellairs is as synonymous to the Cape Argus Pick ’n Pay Cycle Tour as the south-easter is to Cape Town summers. He’s been part of the event’s organisation for the past 20 years. It all began when a friend took a bet with him that he couldn’t finish the race...

Focus On

Focus on Badplaas, Mpumalanga, South Africa

Badplaas is situated in Mpumalanga between Machadodorp and Carolina. Badplaas is famous for the hot sulphur spring which bubbles out of the ground at a rate of 30 000 litres an hour, and which used to be known to the local tribes people as Emanzana -"the healing waters"...

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Enter City/Suburb:

In the Area

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

  • Zimbali
  • Montecasino
In the area 1 - Zimbali

Zimbali property saga: Work has resumed

Wessel Witthuhn, president - Africa & Indian Ocean for IFA Hotels & Resorts is not a man of many words, at least when it comes to talking to REW, but he is a man of his word. ..

In the Area 2 - Montecasino

An exciting new hotel and office development is nearing completion.

Over the past few months, Fourways residents have watched with interest as The Pivot development has sprung up in the Montecasino precinct..

To the editor

The decision by the Planning and Building Management Department of the Cape Town City Council to replace the city’s 27 ‘archaic’ separate zoning schemes with a single zoning scheme covering the entire city could just be the good news that Cape property developers have waited two decades to hear, says Paul Henry, MD of Rawson Developers.

The scheme, which will shortly undergo its final round of public participation, is based, said Henry, on the premise that a unified city needs a unified zoning system, one that does not reflect past discrimination and is capable of responding to today’s challenges.

The new, simpler rulings, he said, will make property developers’ lives far more straightforward.  They should streamline the approval process and could lead to the lengthy period caused by objections to proposed projects being cut by 60%. click here to read more

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News from Building Centre - New security systems


New security systems on display at the Building Centre, have reinforced louvres and transparent burglar bars.

The crime situation in South Africa being what it is, it will come as no surprise to the public that the Cape Town Building Centre finds security..

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