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30 August 2013

 
FROM THE EDITOR

There's a consensus amongst the South African residential property sector that the promulgation of the National Credit Act was necessary as it contributed significantly to stabilizing the property market by preventing reckless lending.But it has also been reported that the National Credit Act has resulted in wide scale disappointment and frustration for many people at the lower end of the market, who wants to purchase properties. Read the full article on National Credit Act often harsh on potential lower sector home buyers.

Although home owners nationwide are all feeling the brunt of increased municipal rates (10% year on year tariff hikes for electricity and 9.2% for water and other services) and at least one more petrol increase scheduled for this year, the Reserve Bank decided to leave the repo rate unchanged at 5% - as it has since last year – due to less than stellar local economic growth. See the whole story in an article titled Now Is the Time to Save.

Buying a home is one of the best decisions one can make in their lifetime, but that decision may be hazardous to one’s health should one choose a wrong house to buy.  A study has proved that deteriorating asbestos roofs, especially those that aren’t painted regularly, can release microscopic fibres into the atmosphere which can cause damage to peoples’ lungs, so home buyers are advised to take that into consideration when shopping for a home. Read an article titled Asbestos removal and gas heating increasingly necessary in South Africa's homes for a full story.

In this week’s issue, we take a closer look at a city that was merely a sandy horse trails and grassy estates just 50 years ago. A city that has, in a mere 30 years, transformed from being a quiet, semi-rural dormitory town to becoming an opulent, Manhattan-like hub of South African economy. Read more about the humble beginnings of Sandton in our Focus on section of this Newsletter.

Enjoy!
The editor


In this issue
Property of the Week

 Sandton, Gauteng- South Africa
The last word in elegance and charm


News
National Credit Act often harsh on potential lower sector home buyers

Although there is widespread agreement in the South African residential property sector that the promulgation of the National Credit Act was necessary and has contributed significantly to stabilizing the property market by preventing reckless lending...


Empowerment policies have worked in the listed property sector

A strong argument can be made that unlike the resources sector, which has captured most of the headlines around black economic empowerment (BEE), in the listed property sector empowerment policies have worked...


Investec Property Fund plans R450m property acquisition spree

JSE-Listed Investec Property Fund today said it had entered into agreements to acquire nine properties with an aggregate value of R452, 9 million...


Now Is the Time to Save

Few were surprised that the Reserve Bank decided to leave the repo rate unchanged at 5% - as it has since last year – due to less than stellar local economic growth...


Asbestos removal and gas heating increasingly necessary in South Africa's homes

When buying a home today, it is essential to beware of those that have asbestos roofs...


Full price should never be paid before transfer

Although agents are always to act in the best interest of the seller, as it states in the Estate Agency Affairs Board Code of Conduct, it is also their duty to be mindful of the rights of the purchaser...


Should you sell now or wait for prices to rise?

Now that the market has turned and prices are on the rise, many homeowners are torn between wanting to sell now and move on, or waiting for further price growth so that they can sell for more...


Want to empower women? Give them cheaper home loans and lower taxes

In India, single women buying their own homes benefit from cheaper home loans, lower stamp duties and bigger tax rebates than single men...


Property- Your biggest asset

For most people, purchasing a property will be the biggest investment decision that they will make - and it’s one that will affect their financial wellbeing possibly for the rest of their lives...


Home maintenance tips for new homeowners
While purchasing a new home is definitely an exciting time for many first-time buyers, there are a number of new responsibilities that come along with the title...

What happens if a tenant reneges on lease renewal

What happens in a case where a tenant’s lease for the year has expired, and in the original contract it stated that he had an option to renew the lease for a further year...


Levy calculations are stipulated by ST Act

There are many owners of sectional title properties who question their levy amounts, particularly in cases where they own garages or storerooms which add to their participation quota but do not consume services such as water or sewerage...


Co-opting of trustees

Usually at the beginning of the year or at the AGM many people in sectional title schemes are enthusiastic about being elected as a trustee and often accept this position without realising the full extent of the job that they’re required to do...



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Focus On

Sandton , Gauteng - South Africa

The name ‘Sandton’ is derived from a combination of Sandown and Bryanston and in less than 30 years, Sandton has become the most significant business and financial district in South Africa...

>> View properties in Sandton


In The Area

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

  • Sandton
  • Newlands
Sandton’s crane-dotted CBD skyline heralds more sell and let opportunities for nearby home owners
Bustling demolition sites in and around the Sandton CBD, and the more than 20 construction cranes that dot the skyline above it, will open new rental and sell opportunities for owners of nearby residential property...

Newlands home sold in two days for full asking price

Homes in security villages or secure complexes are still very much in demand, particularly if they’re in one of the popular, sought after southern suburbs areas such as Newlands...


Property News Continue

Pruning for Spring and Summer Flowering Shrubs

When the thought of pruning comes to mind our thinking jumps to the dormant months of June and July and we think only of roses and fruit trees...


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Our Offices are situated in the West Rand.

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Tivvit Property Count 30/08/13

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Properties for Sale: 102,117  
Properties to Rent: 10,173


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To the Editor

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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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