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Weekly Property News
Friday, 28 May, 2010 |
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FROM THE EDITOR |
Dear Reader
Just when we thought its all doom and gloom;
South Africas 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 Africas 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 buyers 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
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Local
News |
| S.
African GDP Expands 4.6% on Mining, Manufacturing |
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South Africas 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...
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| 'Unemployment
is structural' |
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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...
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| The
world's best cities |
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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...
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| Gautrain
boosts property |
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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...
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| Factors
in favour of property as an asset class |
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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...
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| Distressed
properties keep house price escalation down |
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According to South Africas 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 buyers market which is expected to
continue for the remainder of the year...
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| Selling
a home in winter |
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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...
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| Life
after the 2010 FIFA Soccer World Cup |
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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...
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| Commercial
property owners vs City of Joburg |
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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...
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| Putting
a new spin on the laundry |
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With a bit of planning, you can turn your laundry
into a multi-functional space that also accommodates
hobbies, homework and household admin...
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| Do
not overinvest when improving a home |
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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 homes 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...
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| Vexatious
legislation |
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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...
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Sectional
Title News |
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Agenda for AGM |
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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...
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| Sectional
Titles - Owners' duties |
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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...
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Investment |
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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...
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CyberProp
Property Count: 28/05/2010 |
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Focus
On |
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Search
For Properties |
Search for property in your area
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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 2 - KZN North Coast |
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John Pechey, Broker/Owner of RE/MAX Dolphin Realtors,
which covers the KwaZulu-Natal north coast from
Westbrook through Zimbali to Ballito, Shakas
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...
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| In
the Area 3- East London |
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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...
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To
the editor |
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News
from Realty 1 |
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Consumers want new and improved agents
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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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Upcoming
Events |
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