Weekly Property News
Friday, 28 May, 2010
FROM THE EDITOR

Dear Reader

Just when we thought it’s all doom and gloom;

South Africa’s economy grew at the fastest pace in seven quarters in the first three months of the year as record low interest rates triggered a rebound in consumer spending, while rising global demand fueled exports. Finance and real estate expanded 2.5 percent

This week we saw a challenge by Trade and Industry Minister Rob Davies. According to him South Africa's unemployment crisis was structural in nature and caused by unsustainable imbalances between production and consumption. He challenged real estate professionals to think about how they contributed to the collective effort to address the structural imbalances as a result of past actions. 'Unemployment is structural'

Headlines: Mercer consultants - Of the 420 cities surveyed, Cape Town comes in at 30 while Johannesburg is 54th. The Eco-City Ranking considers water availability, water potability, waste removal, sewage, air pollution and traffic congestion to rank. The world's best cities

Market news: According to South Africa’s leading bond originator, Betterbond, the steady rise in mortgage loans granted since December last year indicates that property purchasers are still taking advantage of the buyer’s market which is expected to continue for the remainder of the year. “The average home loan amount falls within the R600 000 price range while the average house price according to formal grants is estimated at around R830 000. That said, it is clear where most of the market activity is taking place,” says Rudi Botha, CEO of Betterbond. Distressed properties keep house price escalation down

Enjoy!
The editor

In This Issue
Featured Property
North West, Rustenburg: Guest House

UPPER CLASS GUESTHOUSE FOR SALE!!!
Situated on the main road to Johannesburg plus minus 7 km from Rustenburg Waterfall Mall

 
Local News

S. African GDP Expands 4.6% on Mining, Manufacturing

South Africa’s economy grew at the fastest pace in seven quarters in the first three months of the year as record low interest rates triggered a rebound in consumer spending, while rising global demand fueled exports...


'Unemployment is structural'

South Africa's unemployment crisis was structural in nature and caused by unsustainable imbalances between production and consumption, Trade and Industry Minister Rob Davies said yesterday...


The world's best cities

Cape Town has sub-Saharan Africa's best quality of life (86th worldwide) and Johannesburg (96th) it's second best, according to Mercer consultants' city rankings for 2010 that it released on Wednesday...


Gautrain boosts property

Homeowners in Johannesburg, who have faced disruption, noise and chaotic traffic over the past few years with the construction of the Gautrain high speed rail link, are set to benefit from increased property valuations when the first phase of the rail network opens later this month...


Factors in favour of property as an asset class

Any comparison between investment outlets, today increasingly referred to as asset classes, has to take into account whether the sum invested is paid upfront by the investor or whether he can arrange a deferred payment. It is for this reason that comparisons between asset classes are often difficult to make...


Distressed properties keep house price escalation down

According to South Africa’s leading bond originator, Betterbond, the steady rise in mortgage loans granted since December last year indicates that property purchasers are still taking advantage of the buyer’s market which is expected to continue for the remainder of the year...


Selling a home in winter

The arrival of the winter rains at the Cape - and the exhilarating build-up of atmosphere to the World Cup - appears to be causing many Capetonians to “put their lives on hold” and to delay making decisions on property matters, says Lanice Steward, MD of the Cape estate agency Anne Porter Knight Frank...


Life after the 2010 FIFA Soccer World Cup

Peter Gilmour, Chairman of RE/MAX of Southern Africa, says that in order for the property industry to benefit from this historic event, South Africa must first surpass expectations around hosting it...


How to make a profitable purchase

If you’re property wise, you’ll be looking to make more “profit” when you buy a home than when you sell it in future...


Commercial property owners vs City of Joburg

The South African Property Owners Association (Sapoa) is set to reply to the City of Johannesburg's response to the association's High Court Application to set aside the 2009/2010 municipal budget as a result of the city's failure to adhere to prescribed procedures during the adoption of its budget for the rates for commercial properties...


Putting a new spin on the laundry

With a bit of planning, you can turn your laundry into a multi-functional space that also accommodates hobbies, homework and household admin...


Do not overinvest when improving a home

Although has always been an enthusiastic proponent of regular ongoing renovations and upgrades in a home – “They usually add far more than they cost to the home’s final value” – every upgrade should be tackled with an eye on the value of other homes in the area, says Mike Greeff, CEO of Greeff Properties...


Vexatious legislation

Cape property developers, often criticised for insensitivity and for riding rough shod over public opinion, are likely in the coming year to hit back through what is known as ‘vexatious legislation’, says Paul Henry, MD of Rawson Developers...


Sectional Title News

Agenda for AGM

With these now taking place countrywide, trustees must be aware that by law certain points have to be on the agenda for discussion, says IHFM GM...


Sectional Titles - Owners' duties

One of the ‘issues’ with which sectional title trustees and their managing agents have to deal with time and again is the contentious subject of where the sectional title owners’ responsibilities end and where those of the trustees start. The issue is complicated by trustees also being owners of sectional title units who provide their time and service free of charge...


Investment

The better managed a sectional title scheme is, the more its value will appreciate - and values in such schemes will always tend to rise faster than those of other residential property. This is due to the shortage of supply in the city centres and popular suburbs and the increasingly strong demand in this sector, particularly at the lower end...

CyberProp Property Count: 28/05/2010

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Properties for Sale: 139,511
Properties to Rent: 10,187


Focus On

Focus on 2010 FIFA World Cup™ fever in Rustenburg, North West, South Africa

The Royal Bafokeng Sports Palace is one of the stadiums for the 2010 FIFA World Cup™. The stadium is named after the Bafokeng people who live in the area.

In 1999, the Bafokeng won a legal battle, which entitled them to 20% on the platinum which is mined on their historical land. Hence, they have shares in platinum mining in the area. Upon completion, the stadium will seat 44,530...

>> Property in the Rustenburg
>> Property in the North West


Search For Properties

1. Western Cape
2. Garden Route
3. Northern Cape
4. Eastern Cape
5. KwaZulu Natal
6. Free State
7. North West
8. Gauteng
9. Mpumalanga
10. Limpopo

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Enter City/Suburb:

In the Area

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

  • Pretoria Eastern Suburbs
  • KZN North Coast
  • East London
In the area 1 - Pretoria Eastern Suburbs

Choosy buyers target Pretoria eastern suburbs

Demand for residential units in upmarket suburbs to the east of Pretoria is growing...


In the Area 2 - KZN North Coast

John Pechey, Broker/Owner of RE/MAX Dolphin Realtors, which covers the KwaZulu-Natal north coast from Westbrook through Zimbali to Ballito, Shaka’s Rock, Salt Rock and Sheffield Beach as far as Zinkwazi, says that the pricing and demand for property in these areas has been consistent – a stark contrast from the rest of the country...


In the Area 3- East London

Jobs boost as city hit by mini building boom

East London is in the grip of a mini 'building boom' with office parks and housing complexes being built all over town...


To the editor

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


News from Realty 1

Consumers want ‘new and improved’ agents

Among the far-reaching changes that the recession brought about in the real estate industry is a worldwide wave of consumer demand for agents to be more professional, and South African consumers are no exception...


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