Weekly Property News
Friday, 27 August, 2010

Dear Reader

Good news for homeowners in the pipeline? The inflation rate remains well within the target band of between 3 and 6 percent. This according to statistics released by Stats SA (Statistics South Africa) on Wednesday. The increase in South Africa's consumer price index (CPI), which is used by the South African Reserve Bank (SARB) for its inflation target, was 3.7 percent year-on-year (y/y) in July, as compared to 4.2 percent y/y in June.

Carmen Altenkirch, Nedbank: "Inflation is expected to remain below four percent during the next three months, due to the strength of the rand, weak domestic and foreign price pressures and a further moderation in services inflation. Today's inflation figure adds further evidence to the case in favour of a further interest rate cut in September. The weaker growth picture, coupled with a subdued inflation outlook and a very strong rand will also weigh strongly on the decision to lower rates one last time this cycle."

Elize Kruger, KADD Capital: "The 3.7 percent CPI number is positive, better than I had expected. This will give the Reserve Bank some scope to cut interest rates by 50 basis points next month."

Annabel Bishop, Investec Group Economics: "We continue to expect an interest rate cut in September, of 50bp, given the subsidence in CPI inflation coupled with weak demand globally and locally, along with rand strength. There will be little reason for the MPC not to cut interest rates in September."

Headlines: The inventiveness of the crooks in the property sector is a subject on which developers and estate agents can talk at length.“No sooner has one loophole been eliminated than another will be found,” says Paul Henry, MD of Rawson Developers. The latest scam to come to his attention concerns the renting of attractive coastal homes over the summer holiday season. Holiday home rental scam

The editor

In This Issue
Featured Property

North West, Potchefstroom
Once in a Lifetime Opportunity
Game Farm including 2 hunters cottages

CyberProp Property Count: 27/08/2010

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Properties for Sale: 142,541
Properties to Rent: 9,994

Local News

Holiday home rental scam

The inventiveness of the crooks in the property sector is a subject on which developers and estate agents can talk at length...

Zille slams housing laws

It is "unbelievably difficult" for provinces to meet housing targets under the current legal framework, Western Cape Premier Helen Zille said on Monday...

Understanding inner city opportunities

Those working in the Johannesburg CBD and living in the surrounding areas are well placed to capitalise on the enormous changes brought about by the infrastructural changes and public transport improvements nearing completion in and around Gauteng...

African buyers best bet for big-ticket SA properties

Luxury property in South Africa is increasingly attracting the attention of wealthy business owners and executives in other parts of Africa, says global property group Sotheby’s International Realty...

Don't be afraid to negotiate home loan rate

Home loans are currently hard to come by – but that should not prevent qualified borrowers from negotiating for a better interest rate...

Termination of bonds

Although the public’s knowledge of how to obtain a mortgage bond and how to comply with the National Credit Act has increased markedly, two questions about the termination of bonds crop up regularly, says Rob Lawrence, National Manager of Rawson Finance...

Consider house offers carefully

Buyers are currently king in the local property market and can afford to consider carefully before making an offer to purchase...

Crime now less of a concern for homebuyers

Crime and safety concerns now appear to be playing a less pivotal role in property buying decisions than in previous years...

Tune in to your market before setting price

You may know your own mind when you decide to sell your home, but do you know your own market?

Young investors should acquire growing property portfolios

Although some recent media reports have been ambivalent on future prospects of the Cape residential market, it is showing a slow but steady upward trend, says Lanice Steward...

The view's just one part of the package

Homebuyers are accustomed to the idea of paying a premium for a property with a view, like a “house on the hill” or an apartment overlooking the sea...

Weigh up new and pre-loved homes for the best value

Homebuyers are counting their pennies as they struggle to find affordable properties in the current difficult economic climate, and that raises the question of which type of property – pre-owned or newly-built – offers the best value...

A good renovation will increase value of home exponentially

With the residential property market still underpriced in relation to 2007/early 2008 values and with recovery in the property sector taking place only slowly, now is a good time to buy an older home and renovate, says Graham Leslie, MD of Greeff Properties...

New lightweight construction blocks

DIY wall construction even easier with light weight blocks

Stumbelbloc, which recently launched a new easy-to-use interlocking construction block system, has now come up with a further groundbreaking invention which takes DIY building to a new level...

Focus On

Potchefstroom, North West, South Africa

Potchefstroom, the first town and capital of the former Transvaal Republic, has retained much of the charm of its early years, in contrast to the frenetic bustle of Johannesburg and the brashness of other newer centres...

>> Property in Potchefstroom
>> Property in the North West

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In the Area

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

  • Waterkloof
  • Potchefstroom
In the area 1 - Waterkloof

Top-end home prices are still well down from their boom-time highs – but unlikely to go any lower - so now’s the time to buy if you aspire to a property in premier Pretoria suburbs such as Waterkloof and Brooklyn...

In the area 2 - Potchefstroom

Commuters who work in central Johannesburg and the Sandton office node are contributing to a stable property market in the university town of Potchefstroom...

To the editor

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

News from News from Gunston Attorneys

Distrust of ante-nuptial contracts is unfounded, says lawyer

Recent advice from a Cape Town Lawyer, Ulrik Strandvik of Grant Gunston Attorneys, is particularly relevant to those with investments in the property sector...

Full and final settlement agreements need careful wording - especially on property deals

Grant Gunston, senior director of Grant Gunston Attorneys, has drawn attention to a recent High Court ruling which affects the generally held perception that if a creditor accepts a cheque in “full and final settlement” of a claim, the matter is over and done with and there can be no further claims...

Upcoming events

Win with Homemakers Expo!

This year’s Cape Homemakers Expo, which takes place from 2 to 5 September at the Cape Town International Convention Centre (CTICC), will again offer visitors the latest in home and lifestyle trends...

Local news continue

The investment pay-off of green buildings

Bottom-line benefits like consistent increases in gross rentals, lower operating costs and less capital expenditure over a building’s life-cycle are three key reasons why property investors are embracing green buildings around the globe...

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