Weekly Property News
27 July 2012
FROM THE EDITOR

Dear Reader

The market, dependent on an improving economy and growth in household incomes, is slowly improving, with May’s FNB index at its highest since June 2010.

The residential property market is hard to call at present, with mixed signals coming from economists, analysts and real estate professionals — both in terms of the current situation and the forward outlook.

Absa Bank reports that mortgage bonds granted in April increased modestly compared with the previous month. In the household sector the value of outstanding mortgage balances, largely related to residential property was up by 2.3 percent in April (2.1 percent in March).

Outstanding household mortgage balances had a share of 64.5 percent of total household credit balances in April.

"This means that since the real house price reached in February 2008, real house prices (those adjusted for CPI inflation over the period)… were 13.3 percent higher than February 2008," comments Loos.

Headlines & market news: Economic hardship is putting tenants under pressure, creating problems for landlords and affecting the quality of rental properties.

"Non-payment or late payments are creating headaches for landlords, many of whom are already under pressure to keep up with bond, rates and levy payments on investment units bought during the boom years. Their expectations of good returns have been dashed and in many cases their units are losing value - in areas where non-payment is endemic, maintenance is being neglected and whole blocks of flats or specific neighbourhoods become notorious, which in turn affects rentals that landlords can realistically expect tenants to pay."

Enjoy!
The editor

In This Issue

 

Ermelo, Mpumalanga, South Africa
Residential - Bedrooms: 4 | Bathrooms: 2

CyberProp Property Count: 27/07/2012

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Properties for Sale: 123,603
Properties to Rent: 11,480

News

The outlook for property

The market, dependent on an improving economy and growth in household incomes, is slowly improving, with May’s FNB index at its highest since June 2010...


Look at the smaller picture to get past price confusion

In recent months, there has been a lot of contradictory – and thus confusing – information about home prices emerging from the banks and other regular market commentators...


Buy-to-let residential properties - investors returning slowly but steadily to the market

Several franchises in the Rawson Property Group have in recent months reported a detectable upswing in their areas with regards to the number of investors buying residential property with the specific intention to let it out...


Rental problems surfacing

Economic hardship is putting tenants under pressure, creating problems for landlords and affecting the quality of rental properties...


FOMO – Are you missing out?

In a recent Pharma Dynamics survey, conducted among more than 3,000 South Africans nationally between the ages of 15-50, over 62% said they live in constant fear of missing out (FOMO)...


SA economy in white hands? Not in terms of property

Never one to shy away from the lime light President Jacob Zuma had many South Africans up in arms recently when he stated that “the ownership of the economy remains primarily in white hands as it has always been” during his opening speech at the opening of the African National Congress’ policy conference...


Lower rate 'should mean less distressed properties'

Jan Davel, MD of the RealNet estate agency group, says this week's interest rate reduction will obviously ease the financial pressure that many people are feeling as a result of increased municipal tariffs and higher food and fuel prices.


Rate cut 'another push in the right direction'

This week's interest rate reduction is excellent news that will provide further impetus to an already reviving market, says Lew Geffen, chairman of Sotheby's International Realty in SA...


The latest interest rate cut is of great significance to residential property prices

South Africa’s property companies, in both the marketing and development sectors, have welcomed with ‘a sigh of relief’ the latest 0, 5% interest rate drop announced recently by the South African Reserve Bank’s Monetary Policy Committee...


The direct influence the media has on property sales

Sometimes it is very difficult to understand the power which the media has over the public. The media is seen as a reliable source of information, and so it is...


Mugabe's man shells out R185m for prime SA property

A TRUSTED ally of President Robert Mugabe has been on an R185-million (US$22,62 million) mansion-buying spree in South Africa during the past year, acquiring prime real estate on the Durban north coast and in one of the plushest areas of Sandton, Johannesburg...


Battersea Power Station sold by Knight Frank and Ernst Young

Joint sales advisers, Knight Frank and Ernst & Young Real Estate Corporate Finance, announce today the exchange of contracts of the 39.1 acre Battersea Power Station site, the last significant piece of prime central London remaining for redevelopment...

Focus On

Ermelo, Mpumalanga, South Africa

Long before the town was formally established, the site was a much frequented outspan on the transport route between Lydenburg and Natal. Because the area is well watered and dotted with freshwater lakelets it soon attracted settlers.

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In the Area

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

  • Burgundy Estate
In the area 1 - Burgundy Estate

Going to Burgundy Estate is like coming home

Nationlink Plattekloof is proud to present their latest development offering - the brand new Clermont-Ferrand in Burgundy Estate, Cape Town...


To the editor

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



Local news continue

Higher Q1 tourist inflow a plus for SA homes market says Ennik

The announcement by Tourism Minister Marthinus van Schalkwyk that the tourist inflow to South Africa rose by 10,5% to 2,2-million in the first quarter of 2012 bodes well for the homes market – particularly if that level is sustained, says Ronald Ennik, CEO of Gauteng luxury homes marketer Ennik Estates...


Part 2: Are you ready for a new home?

Last month we discussed the requirements of financing a new property. We discussed the required documents necessary to purchase a property and how the financing process works. This month we touch on the property registration process...


Prepare your home for a new baby

Babies don’t stay small for long, and proud new parents need to baby-proof their homes well in advance of their children starting to crawl and walk...

RE/MAX SELL-ECT adds rental management to its service offering

While many property investors are taking advantage of the opportunities found in the current market and purchasing property to build a rental portfolio, not all of them want the burden of managing the rental properties themselves...


Leapfrog: Hand-over of 8,000 plus glasses to OneSight project

On February 29th this year Leapfrog Property Group embarked on an exciting project: collecting old prescription glasses and sunglasses in conjunction with international organization OneSight...


World renowned experts on sustainability and green building to present in Cape Town

How to green existing buildings, designing high performance green buildings, global innovation in green design, the London Olympics Park Project, and the next social trend – collaborative consumption – just some of the compelling topics to be explored at the master classes being presented by leading thought leaders as part of the build-up to Green Building Council of South Africa (GBCSA) Convention and Exhibition...


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