Weekly Property News
30 September 2011
FROM THE EDITOR

Dear Reader

The interest rate is staying the same but what about the price of petrol? It’s expected that it will increase by end next week with 33 cents a litre. The petrol price is an important element in the purchasing of property and the property market in general. Should the price rise you will find more buyers looking for property that is close to amenities like schools, shopping centres etc. Send us your views to news@cyberprop.com

Headlines: The South African property market is ripe for large-scale investment in the affordable sector, according to global equity investor, International Housing Solutions (IHS).
Speaking in the wake of the third annual affordable housing development and finance conference, Soula Proxenos, managing partner at IHS, said it was clear that urban densification had to be addressed as a matter of urgency. Cheap housing booming

Market news: While the market as a whole, aided by low interest rates, struggles to gain traction, pockets of activity remain. Over 43%% of transactions this year so far sold between R250, 000-R750, 000 - mopped up by bargain-hunters. An additional 20% of top performers were between R750, 000- R995, 000. We forecast that demand in these brackets will remain constant as highly-indebted consumers continue to apply pressure to sellers. The R400, 000 –R600, 000 segment is sought after by investors hunting down sectional-titles that offer relatively easy gearing. There is no doubt that buyers are spoiled for choice in most areas and will remain so for the near term. This market correction is welcomed and allows for property value consolidation. Caveat emptor is the watchword. Now more than ever, astute buyers, sellers as well as the property professionals assisting them need accurate data to make informed decisions. This according to Dieter Deppisch, He Property Data Solutions, Knowledge Factory. Market news from Knowledge Factory

It’s scary how many people don’t know what the correct steps are that must be taken when they purchase or sell a property. “Property deals,” says Ulrik Strandvik, a director of Gunstons Attorneys, “are involved and complicated. Several government and/or municipal departments play a part in them and there are pitfalls all along the way. Those who enter into property transactions without professional advice, all too often end up being badly hurt.” Many steps to property transactions

Enjoy!
The editor

In This Issue
Featured Property

Eastern Cape, Jeffreys Bay
House:
Bed: 5 | Bath: 3
This property has to be one of the most stylish well designed homes on the beach front. Exquisite finishes throughout...


CyberProp Property Count: 30/09/2011

Search Now

Properties for Sale: 144,999
Properties to Rent: 10,832

Local News

Market news from Knowledge Factory
(PDF Download)

National Top Performers

Data methodology applied:

  • Registrations concluded for the period 1 Jan 2011 – 31 May 2011.
  • Full title and Sectional title property values were viewed collectively.
  • Transactions less than R100k and greater than R15mil are excluded.
  • Only transactions where buyer was a natural persons or trust (i.e. excl. companies, municipalities, government etc).
  • Suburbs classified as industrial and commercial are excluded (as per Knowledge Factory's ClusterPlus tool)

Cheap housing booming

The South African property market is ripe for large-scale investment in the affordable sector, according to global equity investor, International Housing Solutions (IHS)...


Property sales drop to a 30-year low

Real estate sales volumes and cycles have plummeted to a 30-year low - and investment properties are not moving as investors are unable to resell them at any meaningful profit...


Property loses momentum

Growth in South African commercial property returns stagnated in the first half of 2011, reflecting an overall slowdown and uncertainty in local and global economic conditions...


Repo rate decision “disappointing”

The Reserve Bank’s decision to leave the repo rate unchanged at 5.5% is “a little disappointing” says Bryan Biehler, MD of the Huizemark property group...


Property marketing fraternity welcomes decision to keep interest rates the same

The Monetary Policy Committee’s decision to hold interest rates at their current levels will be welcomed by the property marketing fraternity, says Tony Clarke, MD of Rawson Properties, a group which now has just over 150 residential marketing franchises countrywide and is diversifying into development and, recently, the franchising of auction, letting and commercial operations...


Huge savings to be made by selling faster

Homeowners can cut up to two months off the average time it takes to sell a property by getting the asking price right from the start.


Why you need a proper pre-approval

Most people can’t buy a home without a home loan, and yet many people who make offers to purchase have no idea whether they will be granted a loan or not...


Can the design of an office or building affect the brain?

A question that has always been around is - whether architecture and design can affect the brain? At the core of this debate, lies the question, as to whether ones office can actually inspire someone or lead to better work performance...


Money saving tips for homeowners

With living expenses on the rise and distressed property sales a reality for many South African homeowners, some may want to tighten the belt and find ways to save, says Adrian Goslett, CEO of RE/MAX of Southern Africa...


Confidence in building sector stays subdued

Confidence in the building industry has remained virtually unchanged at a low level for the third consecutive quarter, with the uptick in residential building activity waning and the increase in nonresidential building activity continuing...


Upgrades that don’t break the bank

In today’s real estate market there is no ideal formula to follow when it comes to selling a property, however there are economical ways to make a property more appealing and increase the chance of selling it in a shorter time frame, says Adrian Goslett, CEO of RE/MAX of Southern Africa...

Trusts as a vehicle for holding property

Trusts as a vehicle for holding property are not as popular and in vogue as they once were, says Lanice Steward, MD of Anne Porter Knight Frank, and the main reason for this, she believes, is that the capital gains taxes on property held in a trust are now higher than those for individuals...


New proxy rule

One of the most important changes in the sectional title scheme management legislation (now awaiting promulgation) has, says Michael Bauer, general manager of IHFM, the property management group which now operates in both the Western Cape and Gauteng, as yet aroused little attention or discussion – but, he believes, could radically alter the way in which changes are made...


Resolving disputes in sectional title - Looking further at arbitration

Options for sectional title dispute resolution

There are many different types of sectional title disputes. The dispute can be about any aspect of the management and control of the scheme, or the actions of the trustees, owners or residents.

Focus On

Jeffreys Bay, Eastern Cape, South Africa

Offering endless beaches and endless summers, it was founded in 1849 and today is a holiday and retirement resort that lies like a jewel midway between the Gamtoos and Kromme Rivers and the Kabeljous and Seekoei River Estuaries

>> Properties in Jeffreys Bay
>> Properties in the Eastern Cape


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;

  • Pretoria
  • Pretoria East
  • Johannesburg - Inner City
In the area 1 - Pretoria

Brand-new two and three-bedroom homes at prices from R280 000 to R522 000 – that‘s what’s on offer in two new affordable housing projects to the north of Pretoria...


In the area 2 - Pretoria East

The up-market suburbs of Pretoria East have always been, and will continue to be, a great investment area for property buyers, says Martin Potgieter, Broker/Owner of RE/MAX Jacaranda (New East)...


In the area 3 - Johannesburg Inner City

The High St Auction Co has announced that its next property auction to be held on 5 October 2011 at Summer Place in Hyde Park at 12h00 will feature a host of inner city Johannesburg properties...


To the editor

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


Local news continue

Andre Rautenbach’s cyber office connects GoIndustry DoveBid SA to the world

South African Andre Rautenbach is a prime example of a ‘cyber employee’ – someone who can make his office anywhere in the world as long as he has a laptop and internet connection...


Many steps to property transactions

Despite ongoing coverage on property transactions in the business and trade media, conveyancers handling the buying and selling of residential property find that a surprisingly large number of those with whom they deal are partially or wholly ignorant of the steps to be taken to complete a property transaction...


If live-together couples split, the new sole owner is exempt from transfer duty

A change in SA law made a few years ago has greatly improved the position of those who are divorcing and, in the process passing their residential property to one of the couple concerned...


Case highlights risk of using multiple estate agents

A couple who sold their Durban North home six years ago have to pay more than R230 000, plus interest, to Wakefields estate agency after the Supreme Court of Appeal ruled that they paid commission to the wrong agent...


On the move

Most of us have experienced moving to a new house or community at some stage of our lives. For some the experience may have been an easy one with little or no obstables, while for others it may have been a rather rocky road...


Three new Green Star SA ratings achieved by commercial buildings in SA

We are delighted to announce that the GBCSA has recently rated three new green buildings in SA under the Green Star SA rating system!


Bill Rawson receives Lifetime Achievement Award

At a recent function sponsored by FNB and the Property Professional magazine held at the Montecasino Ballroom in Johannesburg, Bill Rawson, chairman of Rawson Properties, was honoured with the esteemed FNB/Property Professional Lifetime Achievement Award. Rawson has had over 40 years in property and Rawson Properties has been in existence since 1982...

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