Property News |
30 September 2011
The interest rate is staying the same but what about the price of petrol? Its 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 firstname.lastname@example.org
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
Its scary how many people dont 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
Property Count: 30/09/2011|
|Market news from Knowledge Factory|
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 Banks 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 Committees 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...
|Why you need a proper pre-approval|
Most people cant 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 dont break the bank|
In todays 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...
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the Area |
The areas we are going to take a closer look at
this week are;
- Pretoria East
- Johannesburg - Inner City
the area 1 - Pretoria|
Brand-new two and three-bedroom homes at prices from R280 000 to R522 000 thats whats on offer in two new affordable housing projects to the north of Pretoria...
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)...
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...
|Local news continue|
|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...
|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...
|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...