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23 August 2013

 
FROM THE EDITOR

Although the South African property index dipped more than 1% on the JSE on Thursday the 22nd of August, according to an article titled SA property index fall on fears of rate hike, we have some good news for the first-time homebuyers in this week's issue.

It has been reported that the property market has turned the corner and is on its way up again. That is based on a fact that there are now billions of rands worth of new housing developments under way all over the country. Read more on Great opportunities for first-time buyers in new developments.

We also have what might be good news to some home buyers but bad news to home sellers. With credit amnesty that was proposed by the Department of Trade and Industry (DTI) and the National Credit Regulator (NCR) on its way before the end of the year, credit bureaux are required to remove all adverse listings relating to debts of less than R10 000 going back to 2006 (irrespective of whether these have been settled or not). This is good news but it might make it extremely difficult to assess the creditworthiness of potential homebuyers and tenants. Read a full story on More need for professional agents as credit amnesty looms

According to Adrian Goslett, CEO of RE/MAX of Southern Africa, the market is ripe for the picking, however just because the market is ready, it doesn’t mean every aspiring homebuyer is. Find out what the reason is in an article titled The market is ready, are you?

In our Focus On section this week, we take a close look at Bredasdorp; a town that was named after a man that was also known as the father of South Africa's merino sheep industry.

Enjoy!
The editor

Property of the Week

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News
State of property market bleak

A bleak picture has emerged of the state of two of the major segments of the commercial property markets in the latest Rode Report...


SA property index fall on fears of rate hike

South African property index dipped more than 1% on rate hike expectations, being the second-worst performer on the JSE on Thursday...


The market is ready, are you?

Everyone is saying that market conditions are ideal for purchasing a home; the interest rate is low, banks are back in the game and buyers have more choice now than they did during the boom...


The South African property market is heading for the next boom -but it is still a few years off

There is some good news for the South African property market if one takes a look at historical trends – which would suggest that the sector experiences a property boom every ten years and a constructions boom every 20 years...


Great opportunities for first-time buyers in new developments

If there’s a sure sign that the property market has turned the corner and is on its way up again, it’s the fact that there are now billions of rands worth of new housing developments under way all over the country...


More need for professional agents as credit amnesty looms

There’s a credit amnesty coming – and it will make it even more important for property sellers and landlords to enlist the help of qualified and experienced estate agents...


Don't go overboard-coastal sellers advised

House price growth in SA’s coastal regions is at last back in positive territory, for the first time in more than two years...


Correct training inculcates improved sensitivity and a less exploitive attitude
A primary aim of all estate agent training has to be the increase of the agent’s ability to be sensitive and sympathetic to the client’s needs...

Common property in older buildings often mistakenly listed on plans

In 1977, when the first Sectional Titles Act came about, many buildings were converted into sectional title units but exclusive use areas weren’t properly defined...


Chairperson's duties and powers in ST schemes

The Prescribed Management Rules for bodies corporate are very clear on the procedures and duties of a chairperson, but it should be remembered, too, that a chairperson has no “special powers” in the day to day running of the scheme...


Who pays for maintenance of prepaid meters?

The installation of prepaid meters in sectional title schemes is usually done because the body corporate of that scheme has deemed it to be necessary to have these units installed...


General maintenance and repairs when renting

Negotiation of the responsibilities of each party in a rental agreement, i.e. the tenant and the landlord, can sometimes have some “grey” areas...


Good tenant selection is the key to success in the buy-to-rent market

Although right now the number of buy–to-let investors in the residential property sector is well below the previous peaks, an upswing in this field is definitely on the cards because rents are rising very satisfactorily year-on-year...


Prevention of illegal eviction and the landlord
Often DIY landlords, once they have bought their investment property or have built additional accommodation on their premises, are enthusiastic and eager to get tenants into their units quickly
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Focus On

Bredasdorp , Western Cape - South Africa

The town of Bredasdorp was founded with the building of a Dutch Reformed Church in 1838 on the farm Langefontein. The town was named after Michiel van Breda, the first Mayor of Cape Town, who was also known as the father of South Africa's merino sheep industry...

>> View properties in Bredasdorp


In The Area

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

  • Cape Town
  • Western Cape Northern Suburbs
  • Greenpoint
Would changes in traffic flows impact property values?
With the densification that the City of Cape Town is working towards in the greater Cape Town area, and the likely increase in traffic flow that will come about as a result, is there likely to be a negative impact on property values or the lifestyle in certain areas...

Institute of Estate Agents of Northern Surburbs to host motivational session

On the 30th August, from 9am to 12 noon, the Institute of Estate Agents, Western Cape’s northern suburbs interim committee will host a motivational morning with Linda Whatley, a life coach and motivational speaker...


Greenpoint buyers get vibe and convenience

Green Point is one of Cape Town’s most cosmopolitan neighbourhoods and combines big-city convenience with a laid-back, easy-going vibe – making it a sought-after option for buyers who want upmarket amenities on their doorstep...


Property News Continue

Anne Porter & Knight Frank announce rebranding

Knight Frank Anne Porter, who have been in association with Knight Frank for the past ten years, are pleased to announce that they will be re-branding as Knight Frank...


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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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