Weekly Property News
27 January 2012
FROM THE EDITOR

Dear Reader

Earlier this month, home loan strategist for First National Bank John Loos predicted the residential real estate sector in South Africa would remain flat over the next 12 months. Is he going to be right or wrong? With the JSE that set an new all-time record yesterday piercing through the 34 000 mark he might just be wrong.

News from the International Property scene;

CoreLogic’s chief economist Mark Fleming says housing statistics and the duration of the downturn to date indicate 2012 may be the year the housing market begins to turn the corner.

Sales of previously owned homes rose in December for the third straight month, bringing the supply of homes listed for sale to the lowest level since 2006 and offering a glimmer of hope that the housing market could be starting to climb out of a profound downturn. Existing-home sales increased 5% in December from a month earlier, to a seasonally adjusted annual rate of 4.61 million units, the National Association of Realtors said Friday. Lawrence Yun, the Realtors' chief economist, called the December gain "a good finish to a very tough year."

Headlines: People who purchase land from bogus sellers will not only lose their money but will also be evicted from that land, the department of rural development and land reform warned on Sunday. "Occupation of such illegally sold land constitutes illegal occupation and is a criminal offence," said spokesman Eddie Mohoebi. The warning came after community members at Walmannsthal north of Pretoria, were illegally sold land belonging to the state.

Market news: Residential property prices are likely to continue to drift sideways this year, impacted by poor economic growth, according to bond originator, ooba. But ooba chief executive Saul Geffen said with interest rates remaining at historically low levels, which may drop further in 2012, home buyers and home owners would continue to benefit. Property to trade sideways

Enjoy!
The editor

In This Issue

Free State, Sasolburg, Vaal River
House:
Bedrooms 4 | Bathrooms 3
Notes: Prime river estate


CyberProp Property Count: 27/01/2012

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Properties for Sale: 137,909
Properties to Rent: 10,281


International News

Housing May Turn the Corner in 2012: CoreLogic

CoreLogic’s chief economist Mark Fleming says housing statistics and the duration of the downturn to date indicate 2012 may be the year the housing market begins to turn the corner...


Sales Stir Hope for Housing Market

Sales of previously owned homes rose in December for the third straight month, bringing the supply of homes listed for sale to the lowest level since 2006 and offering a glimmer of hope that the housing market could be starting to climb out of a profound downturn...


Local News

Property to trade sideways

Residential property prices are likely to continue to drift sideways this year, impacted by poor economic growth, according to bond originator, ooba...


Bargain 'bloodbath' in SA property market

Desperate property sellers are flooding the market, with properties being offered at knockdown prices around the country, including certain areas of Cape Town...


Top 10 property investor tips for 2012

According to research conducted by Auction Alliance, more than 8% of all South African homeowners with mortgage bonds are still underwater with their loans (where balances are higher than values), hinting that there are more distressed sales still to come...


Advice on buying as an investment

Given the flood of advice from a whole host of residential property spokespeople that now is the right time to buy property, can this be seen as valid or is it simply simply self-serving?


Individuals' assets shift to property

This may surprise many but, says Lanice Steward, Managing Director of the Cape estate agency Anne Porter Knight Frank, the current uncertainties in global economics have resulted in a significant shift of assets to property...


Youth is not always on your side

In today’s property market many young buyers may be facing more hurdles than their counterparts from the older generations, says Adrian Goslett, CEO of RE/MAX of Southern Africa...


The good and the bad in residential segments

Contrasting market performances between Major Metros, Holiday Towns and Former Black Townships during 2011...


Take care to get the best off-plan deal

Whether you are buying a starter home, retirement cottage or luxury townhouse, purchasing off-plan can be tricky, and you need to take extra care to avoid disappointment with the finished product...


Healthy Homes

With so many South African’s struggling with severe or chronic allergies, it may be time to consider a healthy home makeover, says Adrian Goslett, CEO of RE/MAX of Southern Africa...


Upper end of property market taking strain

The high-net-worth segment of the residential property market in metro areas is taking strain and delivered a sub-par performance last year...


Parly redrafting Rental Bill

The Parliamentary portfolio committee on human settlements has decided to redraft the proposed Rental Housing Amendment Bill, committee chairwoman Nomhle Dambuza said on Wednesday...


SARS tax amendment for ownership of secondary properties

Last year South African Revenue Services introduced a tax amnesty (covering capital gains tax, transfer duty and secondary tax) for all natural persons (South African citizens) willing to transfer property owned by them in a company, a trust or a close corporation into their own names. The amnesty, it was made clear, would expire in December 2012...


Real estate agents feel the squeeze

Another year of lacklustre house price growth provides the backdrop for a gradually tougher climate for the real estate industry...

Focus On

Sasolburg, Free State, South Africa

Sasolburg is situated in the northernmost corner of the Free State Province on the southern banks of the Vaal river, and forms part of the Vaal Triangle (Vanderbijlpark, Vereeniging and Sasolburg regions)...

>> Properties in Sasolburg
>> Properties in the Free State


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5. KwaZulu Natal
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7. North West
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10. Limpopo

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In the Area

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

  • The country side
  • The Cape
  • Durban
In the area 1 - The country side

Buyers answer call of the countryside

Agricultural holdings are finding new favour among buyers who feel constrained by the urban lifestyle...


In the area 2 - The Cape

National survey statistics seldom wholly relevant to cape residential property...


In the area 3 - Durban

Durban property rates hike on the cards in July

Ethekwini rate payers are in for a hike in property taxes from July 1 in the light of sagging housing prices...


To the editor

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


Local news continue

Relying On An Agent

The latest NAR Profile of Home Buyers and Sellers showed a growing trend among recent buyers...


Luxury unit in Kalk Bay's The Majestic development sold for R71 million

Shortly before the recent Christmas break Ed Kok of the Cape Peninsula estate agency Anne Porter Knight Frank was quoted in the property media as urging visitors to the Cape to take a good look at Kalk Bay- “a suburb which has been radically transformed and upgraded in a very short space of time” - and to visit ‘The Majestic’ development in the heart of Kalk Bay...


Top agency in the South joins Chas Everitt

Southern suburbs real estate master Jacques Bronkhorst has decided to convert his top-performing agency to the Chas Everitt International brand...


Peerutin Architects - Bonne Nouvelle

Although most of the cliff side sea-fronting blocks below Victoria Road in Cape Town’s prestigious Bantry Bay (the ‘twin’ suburb to Clifton) have been completely renovated or replaced in the last three decades - giving way to some of the Atlantic Seaboard’s most impressive new developments...

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