 |
 |
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
|
|
 |
CyberProp
Property Count: 29/01/2010 |
|
|
|
|
|
|
|
|
|
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...
|
|
| 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...
|
|
| 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...
|
|
| 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 |
|
Search
For Properties |
Search for property in your area
|
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
|
|
|
|
|
|
|
