Weekly Newsletter
Friday, 28 October, 2005
Property Search | Estate Agents | List your property

Edition 41 of 2005, Friday, 28 October 2005

Dear reader,

"It is not a foregone conclusion that the Reserve Bank will raise interest rates in December, although the risk of higher rates sometime over the next 12 months has increased, according to Old Mutual Asset Managers (OMAM) economist Johann Els".

But, what has Dave to say this week about rates? "Things have been great. They’ve been great for a long time and especially in property. Surely it must come to an end sooner rather than later. Isn’t that what everybody is thinking? South Africans just hate being optimistic and upbeat. I don’t know what it is about us that makes us always pinch ourselves to check whether we’re dreaming as soon as things are going swimmingly". Read more in Property Game - Predicting a pendulum swing in rates

The future of property in KwaZulu-Natal is looking bright as a number of major projects in the province are given the green light. "There is strong political will in the province to drive major projects that will have a significant effect on the economy. For example, the new King Chaka International Airport, being built at La Mercy, is due to be completed in 2009, and there are upgrades planned for the ports of Durban and Richards Bay."

The Sotho people knew this region as Bela Bela (the boiling place) but the English name is a little more obvious, Warmbaths. Two white settlers established the beginnings of the present day springs when they noticed a cloud of vapour rising in the cold winter air. A powerful hot spring bubbled up at 62°C amid a mass of soggy vegetation and Carl van Heerden established a farm around the spring. When he drained the swamp, he found that the mud had been a death trap for elephants and other wild animals whose skeletons littered the marsh. The springs are rich in sodium chloride, calcium carbonate and other chemicals. They are also slightly radio active, subjecting anything in it to a small degree of irradiation. The baths soon attained considerable renown and visitors attest that the spring water has a markedly beneficial affect on them. Devotees believe that taking the waters is useful in easing rheumatism and arthritic ailments. The government purchased the hot springs, which then became public baths and a holiday resort grew around it. (www.go2africa.com) - Focus on - Bela Bela (Warmbaths, Limpopo Province, South Africa

In Have Fun this week we forget about property and take a look at a new survey that founded that most South Africans are not financially astute. The majority of South Africans borrow money or take out loans mainly to feed themselves and their families. And those who have extra money to put aside do so specifically so that they can buy food with it

Enjoy!
The editor

 

>> Real Estate News - Oversupply wilts buy-to-let market

Investors in the South African residential buy-to-let market are becoming more cautious, particularly at the top end of market, says First National Bank (FNB).

An oversupply of rental properties in the R750,000 to R2,5 million bracket is pushing yields down and discouraging new investors, FNB Homeloans CEO Ed Grondel said at a presentation of FNB's Residential Property Barometer yesterday...

>> The Property Game - Predicting a pendulum swing in rates

Supplied by Dave Welmans www.thepropertygame.co.za

Things have been great. They've been great for a long time and especially in property. Surely it must come to an end sooner rather than later. Isn't that what everybody is thinking? South Africans just hate being optimistic and upbeat. I don't know what it is about us that makes us always pinch ourselves to check whether we're dreaming as soon as things are going swimmingly.

>> Shortage of factory space could make oldies golden

Opportunities to build a long-term portfolio, despite warnings of overheating

Two years ago, some experts were warning investors that the listed property sector had grown too fast. That was when it had a market capitalisation of less than R30bn and the average historic yield was over 11%.

>> KZN's property values set to appreciate

Good opportunities for investors

The future of property in KwaZulu-Natal is looking bright as a number of major projects in the province are given the green light.

Brendan Falkson, MD of Hulett Development, says the property market in KwaZulu- Natal has tended to lag behind the overall South African property market, and while there has been some catch-up taking place there remains room for values to appreciate further.

"There is strong political will in the province to drive major projects that will have a significant effect on the economy...

>> Buy-to-let cools off

Courtesy Intellectual Property

Activity in the buy-to-let market is beginning to slow down as rental incomes shrink and the residential property boom settles into quieter waters. House price to rental income ratios are deteriorating, suggesting declining attractiveness of residential properties as investment vehicles.

Investor activity plays an important role in the property market, especially once price increases start to accelerate and even more so when prices start to fall...

>> Focus on Bela Bela or Warmbaths, Limpopo Province

Bela-Bela, a Northern Sotho name meaning "Boiling-Boiling", which is synonymous with the town's world-renowned hot water springs was discovered by the Tswana's in the 1800's. Hot water bubbling out of the earth at approximately 22 000 liter per hour with a temperature of 53°C and the close proximity to Gauteng make this destination even more popular. The area has pleasantly mild climate during the winter months with an average of 286 sunny days every year add to the popularity of this destination. Our temperature in summer range between 15,7°C - 29°C and winter from 6,7°C - 24°C. Our resorts offer excellent accommodation, sport & recreation, conferencing, Big Five, hiking, game drives, quad bikes and much much more.

View Properties in Limpopo | View Properties in Warmbaths

>> Property of the week

Limpopo, Warmbaths

Mother Africa, the tawny continent, lies stretched before you in all its wildness and splendour. Sondela Nature Reserve, home to Makhato Bush Lodge, is a celebration on untamed Africa as it exists in pockets of land under wise conservation management. Now you can own a slice of this exclusive corner of Africa, from the panorama of its landscapes to the seclusion of your own private game lodge...

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>> Have fun - South Africans nor money wise - survey

A new survey finds that most South Africans are not financially astute, writes Nalisha Kalideen

The majority of South Africans borrow money or take out loans mainly to feed themselves and their families. And those who have extra money to put aside do so specifically so that they can buy food with it...

>> News - Val Ludgrove

INTRODUCTION FUNCTION - HANOVER - NORTHERN CAPE

Val Ludgrove Real Estate held their introduction function to Hanover on the 8th of October 2005. We are glad to report that Hanover has accepted us and we had a ball of a time.

We started our Introduction day with a round of golf on Hanover's oil course, challenging the Hanover golf club. What a game. I must say that we are spoiled with our green fairways and lovely putting greens. It was quite an experience to have a perfect shot on to the fairway and discover that your ball has gone down in a "Meerkat" hole. You can just imagine the hunt for balls.

The day was won by one of Hanover's club members Mr. Daniel Holland. Well done!

Our day was rounded off with an evening we will all surely remember for a long time still to come. The very talented, Urnes Human, entertained us with music and snacks were provided by Val and Ingrid. What a feast!

Thanks to all that made the day such a success.

On the 3rd of October 2005 Val became a very proud grandmother of baby Dean.

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