Weekly Property News
Friday, 29 January, 2010
FROM THE EDITOR

Dear Reader

Interest rates are to stay the same! This was expected by most in the property industry.

The property market will have to get by without the stimulus of a series of rate cuts, as it is unlikely to enjoy much interest rate relief during the course of 2010. This is the word from Brian Falconer, CEO of Colliers Residential in response to the SA Reserve Bank Monetary Policy Committee's decision to leave the repo rate unchanged.

With the general outlook of rising inflation and economic growth, the next interest rate adjustment may well be upwards. However we anticipate any increases only in early 2011. This according Adrian Goslett, CEO RE/MAX of Southern Africa.

Headlines: THE FNB Property Barometer survey, released today, shows that after a rise from a historic low of 4.1 in the third quarter of 2008, to 5.65 by the 3rd quarter of 2009, the 4th quarter level came in at 5.68 - an almost unchanged level. The survey question relates to the level of demand activity, and agents are asked to rate the level of demand that they experience on a scale of 1 to 10. FNB said therefore, while the improving trend continues, the marginal rate of improvement possibly reflects a market constrained by a slow economy, and a highly-indebted household sector unable to respond in dramatic fashion to the big interest rate cuts earlier in 2009. Business Day

Market news: The global real estate market has recovered by a massive 65% in US dollar terms since the carnage ended in February 2009, according to Plexus Asset Management research into the performance of Real Estate Investment Trusts (REITs). Although the market has probably bottomed and stabilised, the outlook for the other important property market, namely residential properties, remains grim, says Du Plessis. This is mainly due to households’ high debt levels and rising unemployment. SA listed property shows its mettle

Enjoy!
The editor

In This Issue
Featured Property
Garden Route, Plettenberg Bay, Brackenridge

This unique and beautiful home enjoys a view of central beach. Set in a tranquil, private estate. Attention to detail in this home ensures the discerning buyer of comfort and exclusivity...

 
CyberProp Property Count: 29/01/2010

Search Now

Properties for Sale: 125,606
Properties to Rent: 9,902

Local News

South Africa property prices rising trend for 2010

Residential property prices in South Africa rose for a fifth month in December after the central bank cut interest rates and the recession ended, according to the country’s biggest mortgage lender...


No stimulus for property market

The property market will have to get by without the stimulus of a series of rate cuts, as it is unlikely to enjoy much interest rate relief during the course of 2010...


Property demand growing

There is a very slight strengthening in demand for residential property, the FNB Property Barometer survey, released on Thursday, found...


Indicators point to big improvement in 2010

Reports from estate agents throughout the Cape Peninsula are confirming that 2010 is taking on a far more promising look than was ever seen in 2009...


SA listed property shows it's mettle

Listed South African real estate instruments are showing their mettle and continue to offer value in the global context, says Dr Prieur du Plessis, Plexus group chairman...


Big bucks: Commercial property trumps residential

Want to spread your investment wings? Shattering 5 property myths

January is traditionally an "eyes wide open" month. Consumers come down to earth from the dizzy heights of the holiday season and the festive glut makes way for goal setting and introspection...


Tax concessions likely to ‘release’ upmarket properties for sale

The window for the transfer of properties held in trusts, companies or close corporations into private ownership is likely to generate a fresh flow of quality property stock on to the market...


How to make sure your HOA stays solvent

Although they are not legally the same as sectional title bodies corporate, the homeowners’ associations (HOAs) that run cluster and estate developments have at least one thing in common with them: the need for funds...


If the municipal valuation on a home is higher than the price achieved the buyer could be forced to pay transfer on the higher figure

Municipal valuations of residential property are time and again a cause of contention, says Lanice Steward, MD of Anne Porter Knight Frank...


Sectional title voting rights

Question:
I'm an owner in a sectional title scheme of which the developer owns half of the units.

How many votes does he or his representative have in a special general meeting or trustees' meeting?


How to fix sealants

Why should goalies stay fit? Why should inspections and maintenance be performed on sealants?

These seem like logical questions to me...


News from FNB

Fourth quarter 2009 house demand improves

THE FNB Property Barometer survey, released today, shows that after a rise from a historic low of 4.1 in the third quarter of 2008, to 5.65 by the 3rd quarter of 2009, the 4th quarter level came in at 5.68 - an almost unchanged level...

Focus On

Focus on Focus on The Garden Route, South Africa

The most beautiful region in the Cape, (if not the country!), the Garden Route with its pristine beaches, mountains, forests, lakes, rivers and kloofs is an absolute holiday destination, a place to restore your soul and revitalise your body and mind...

>> View Properties in the Garden Route


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

Search for property in your area

Enter City/Suburb:

In the Area

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

  • Garden Route
  • Silver Lakes
  • Camps Bay
In the Area 1 - Garden Route

Garden Route set for bonanza

Towns along the Garden Route are confident of a Soccer World Cup tourism bonanza when the world’s biggest sporting event starts in June...


In the Area 2 - Silver Lakes

The prestigious Silver Lakes residential estate on the eastern outskirts of Pretoria is once again recording strong sales...


In the Area 3 - Camps Bay

Camps Bay sale shows confidence is returning

The streets of Camps Bay were overflowing with onlookers yesterday as a prominent beachfront property went under the hammer on the instructions of a Deceased Estate...



To the editor
 

Comment on interest rate announcement
Adrian Goslett, CEO
RE/MAX of Southern Africa

Cape Town, 26 January 2010: As anticipated, the first Monetary Policy Committee (MPC) meeting of the year, and the second meeting under the chairmanship of Gill Marcus, saw the interest rates remain unchanged. While there are good indications that the South African economy is clear of the recession, it still remains vulnerable. Standard Bank’s economic research indicates that household debt ratios have remained at elevated levels and indicates that in fact only around 14% of the adult population directly benefits from lower interest rates given their exposure to credit.

There has also been a lag effect since the decrease of interest rates in the second half of 2009, and the true impact is yet to reflect in the property market in 2010. Furthermore, it is anticipated that while the Soccer World Cup will stimulate the general South African economy, it could also result in inflationary pressure. With the general outlook of rising inflation and economic growth, the next interest rate adjustment may well be upwards. However we anticipate any increases only in early 2011.

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

CyberAgent, the real estate software solution

CyberAgent has been the real estate software of choice over the last 10 years for many of South Africa's leading real estate companies, with over 1200 customers country wide.
CyberAgent makes canvassing easy! Use data from SAPTG, CyberTrade and the Deeds office to do mail drops!
CyberAgent enables the estate agent to manage buyers and sellers, sending them birthday cards, emails etc.
CyberAgent enables the estate agent to manage properties and print great reports with a click of a button.
CyberAgent enables the estate agency to keep track of sales related commissions, VAT, outstanding payments and more...
Get your own dynamic website linked to CyberAgent.
Great exposure! Through your CyberAgent application all properties updated to your site are also send to www.cyberprop.com and to over 50 other property portals.
>> View list of property portals

If you would like to know more about the above features and benefits that CyberAgent offer, visit: www.cyberagent.co.za or email: sales@cyberprop.com

Get in touch