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Weekly Property News
Friday, 30 July, 2010 |
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FROM THE EDITOR |
Dear Reader
Millions was wasted in mismanagement, irregular procurement
and over expenditure by the The Road Traffic Management Corporation
(RTMC) Transport Minister Sibusiso Ndebele told the press
on Thursday. Mismanagement at the RTMC was an irregular lease
agreement of R658-million over 10 years, which resulted in
an actual loss of R11-million. R 144 million is currently
estimated of irregular expenditure. And it carries on. It
makes on wonder how people can get away with it for so long?
In the property industry we see a lot of fraud, property
scams, investment fraud, mortgage fraud, bribes and fraudulent
real estate transactions to mention but a few. One lesson
is always to be learned, stay away from those “bargains”.
Headlines: At least one senior official at the Deeds
Office in Pretoria allegedly demanded bribes to speed up property
transfers. Several independent sources have told Business
Report a "going rate" of R1 000 was charged for
expediting transfers and R500 for inserting a transfer duty
certificate after lodgement of a deed.
Market news: The SARB Leading Indicator for May 2010
returned to month-on-month negative growth for the 1st time
since early-2009, to the tune of -0.5%, down from the +1.6%
growth of the previous month. On a 3-month moving average
basis, the month-on-month growth rate was still positive to
the tune of 0.9%, but this too was slower than the previous
month's +1.3% growth. Residential market may be set for slowdown
Enjoy!
The editor
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In
This Issue |
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Featured
Property |
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KwaZulu
Natal, Howick, Lions River
Outstanding. Immaculate. Unique Country retreat
set of 6.7ha. Views. 6 en-suite bedrooms. Ample living.
Superb kitchen. Koi ponds. Pool. Entertainment area. The
opportunity exists to purchase the property on a selected
furnished basis... |
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Local
News |
| Interest
rates remain unchanged |
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The recent decision by the Reserve Bank’s
Monetary Policy Committee to keep the interest
rates unchanged was a disappointment to the residential
property sector, says Tony Clarke, Managing Director
of Rawson Properties...
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| Residential
market may be set for slowdown |
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The SARB Leading Indicator for May 2010 returned
to month-on-month negative growth for the 1st
time since early-2009, to the tune of -0.5%, down
from the +1.6% growth of the previous month...
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| Most
gains still coming |
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In some ways the 2010 Football World Cup proved
to be a disappointment, but that was perhaps more
confined to those who had unrealistic expectations
of what it would bring and the time frames within
which such benefits would materialise...
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| Residential
target markets identified |
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Any residential property marketing company that
endeavours to keep its agents and franchisees
abreast of the latest trends must recognise the
three main categories defined by marketing analysts
whose aim is to penetrate the middle class...
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| Household
credit growth remains pedestrian |
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June SARB credit data, released today, showed
pedestrian growth rates for both total mortgage
advances growth as well as for overall household
sector credit growth. The total value of mortgage
advances outstanding rose 3.4% year-on-year in
June, which was unchanged from the previous month's
growth rate...
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| Look
before you leap |
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THERE are all sorts of reasons for homeowners
to contemplate moving to a bigger or more upmarket
property, such as the need for more space to accommodate
a new home business, growing children or ageing
parents, or perhaps just the desire to live in
a better area...
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| Luxury
homes in doldrums |
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Property in the luxury home segment is the most
sluggish at present, according to FNB's Estate
Agent Survey for the second quarter of 2010, released
on Tuesday...
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| Tips
for DIY home auctions |
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PRETORIA - Most residential streets these days
are dotted with For Sale signs. Many of these
signs remain for months, sometimes years. Few
options for offloading properties are available
to private owners who want to do so quickly; it's
an estate agent, an auction house or self-advertising.
In most cases the process takes a lot of time...
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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;
- Lephalale (Ellisras)
- Natal Midlands
| In
the area 1 - Lephalale |
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Located in the Limpopo Province, Lephalale, the
town formerly known as Ellisras, is fast becoming
a real estate hot spot due to unprecedented industry
growth in the area...
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| In
the Area 2 - Natal Midlands |
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Inland of Durban, nestled between Pietermaritzburg
and the Drakensberg Mountains, lies the Natal
Midlands. Considered to be an idyllic location
for some rest and relaxation, this is a scenic
area filled with stretches of farmland, charming
little towns and a wonderful arts and crafts route...
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GBCSA |
| Seminars
and Workshops |
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To compliment the main convention programme the
GBCSA is offering the following more detailed
seminars and workshops. Take this once off opportunity
to spend time in a small group with one of our
local or international presenters...
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CyberProp
Property Count: 30/07/2010 |
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