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08 March 2013

 
FROM THE EDITOR

In Real home prices falling we read that the FNB house price index showed a 2.6 percent year on year (y/y) increase for February after a revised 3.9 percent y/y gain in January.

The revision was due to the 5-yearly exercise of re-weighting of the FNB House Price Index’s (HPI) sub-segments‚ in order to keep up with longer term changes in the composition of housing stock that gets traded. New sub-segment weightings have led to some backdated changes in the FNB HPI.

Growth among black owners in the luxury property market has soared, but black ownership of the overall South African residential market has only grown from 37 percent to 42 percent over the past 10 years. This is attributable to the increasing spending power of the middle to upper income black consumer; however, it should be noted that this originates from a small base where the volumes remain marginal. Read more in Black luxury ownership soars

Home loans are hard to get – or at least a lot harder than they used to be, thanks to the new credit rules – and many existing homeowners who might have thought about upgrading are staying put now because they are worried they might not qualify for another home loan if they were to sell their property and try to buy another. Berry Everitt, MD of the Chas Everitt International property group, gives his In Top five improvements for stay-put homeowners

Enjoy!
The editor

In This Issue
Property of the Week

Ramsgate, KwaZulu Natal
A magnificent home of distinction and elegance.


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News

Global housing markets stronger in 2012
The world's housing markets strengthened during 2012, according to the latest survey of global house price trends by the Global Property Guide...

Real home prices falling
The FNB house price index showed a 2.6 percent year on year (y/y) increase for February after a revised 3.9 percent y/y gain in January...

REITs South Africa Platform set to provide Investors with real time comparative analysis
REITs South Africa, a new web portal set to publicise listed real estate opportunities and connects investors with real time comparative analysis for the property investment industry in SA will be launching on the 1st of April 2013 when the REITs change over occurs...

World’s wealthy set to grow by 50% in the next decade - The Wealth Report 2013
London and New York remain the top destinations for the world’s ultra-high net worth individuals to live and invest in but Asian cities are fast catching up, says Knight Frank’s seventh annual Wealth Report...

Global integration creates real estate opportunity

While visiting South Africa in February for the RE/MAX of Southern Africa convention held at Sun City, Rick Yohn, Regional Vice President of Global Business and Franchising Solutions at RE/MAX LLC in Denver, Colorado, says that the best thing that happened during the recession was that the people, who he calls the ‘woulda-shoulda-coulda’ real estate agents, have all washed out...


Fraudulent practices taking place in the property industry
Although it happens only rarely and the practice is not widespread, there are still some home sellers and buyers who, with the help of their agents, agree to ‘load’ the sale price of the home being bought so as to make it possible for the buyer to qualify for a bond that is large enough to cover the deposit and the transfer fees...

Black luxury ownership soars

Growth among black owners in the luxury property market has soared over the last 10 years, but this change is yet to be reflected in the rest of the property market, according to data collated by Lightstone...


Homeowners need clarity on council plans for pre-paid meters
The Eskom tariff hikes just approved by the National Energy Regulator (NERSA) make it even more urgent for the City of Tshwane and various other local authorities around the country to clarify their plans to ensure that every household has a pre-paid rather than post-paid electricity meter...

Questions you need to ask when buying property

While property has been one of the best performing long term investments in recent years, despite the economic downturn and price decreases, a property investment will only be as sound as the knowledge buyers have about it...


Top five improvements for stay-put homeowners
Home loans are hard to get – or at least a lot harder than they used to be, thanks to the new credit rules – and many existing homeowners who might have thought about upgrading are staying put now because they are worried they might not qualify for another home loan if they were to sell their property and try to buy another...

Tips for bond applicants
When applying for a bond or home loan, it’s not just the buyer’s affordability that needs to be ascertained, it’s the buyer’s credit and payment profile that will be checked carefully and if there is the slightest chance that he has “black marks” against him the bond application will be rejected, says Avia Ebrahim, bond consultant for IHFS, the newly established bond originators for Bardale Village...

Is your area flashing "buy" or "stop" signals?
“Before you commit to buying a home, you really need to know what’s been happening to property prices in your preferred area over the past few years so that you can gauge the likelihood of making a good return on your investment – or not...

Owners must stick to rules when renovating a unit

Problems often arise when an owner (often a new owner who has not read through the conduct rules of the scheme) of a sectional title unit plans to make changes his property, says Michael Bauer, general manager of the property management company IHFM...

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Ramsgate, KwaZulu Natal, South Africa
Ramsgate has a quaint village atmosphere and beach front holiday cottages nestling amongst the indigenous coastal bush, which is so typical of this subtropical region. The beaches, lagoons and glorious walks along the sandy shore are enjoyed by visitors that prefer a quieter place...

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In The Area

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

  • Rugby
  • Observatory
Affordable housing in Rugby
There is a dire shortage of housing in the affordable bracket in Cape Town (from R400 000 to R700 000), says Mike Maclachlan, project manager for the joint venture property development company, Silver Meadow Trading...

Observatory accommodation in demand
If you're looking to join the thriving Cape Town tourism industry, look no further, says Cornell de Korte, Knight Frank Anne Porter's agent for Observatory...

News Continue

Choosing a good managing agent
Sectional titles schemes are mini democracies, run by elected executives who themselves often delegate some or many of their functions to managing agents.

Institute Of Estate Agents Of SA, Western Cape To Host A Property Law Update Morning In Langebaan
On Wednesday 13 March 2013 the Institute of Estate Agents, Western Cape, will host a property law update information session at the Yacht Club in Langebaan, from 9:30am to 11:30am...

Green Stars for Alice Lane
Sandton’s select address, Alice Lane is now home to a 4 Star Green Star SA rated office, as developer Abland receives certification from the Green Building Council of South Africa (GBCSA) for the design of their prestigious Sandton project...

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Tivvit Property Count 08/03/13

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"This is not advice. Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that formal advice be sought before acting in any of these areas."

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