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12 April 2013

 
FROM THE EDITOR

Growth in the average value of homes in some categories of housing in the middle segment of the South African residential property market appears to have reached an upper turning point‚ Jacques du Toit‚ property analyst at Absa Home Loans‚ said on Monday.

“As expected for some time‚ base effects and slowing monthly price growth since mid-2012 have caused year-on-year price growth to start moderating. These price trends are according to the Absa house price indices‚ which are based on applications for mortgage finance received and approved by the bank in respect of middle-segment small‚ medium-sized and large homes‚” he said. Read more in Home price growth improving

In Is Now the Time to Buy?, we read that it is comparatively easier to get a bond now than it was two years ago, although buyers still need to have their ducks in a row in order to obtain a mortgage. However, it seems that banks will soon start tightening the rains again as rumours of an interest rate hike gain validity and a weak rand fuels consumer inflation. Obtaining a home loan might become harder in future both due to banks’ stricter lending criteria and the increasing pressure on household disposable income.

Andre de Villiers, from Chas Everitt International Southern Suburbs, says that security has become a major consideration in buying a property and the reason why many people are inclined to invest a premium on one property in an area over another or to buy a home in a gated estate. This can however be little more than an illusion of safety and security if you have neglected to do a little detective work of your own. Read more in How safe and secure is the home you want to buy?

Enjoy!
The editor

In This Issue
Property of the Week

Hartbeespoort, North West, South Africa
For The Connoisseurs of Life...

News

Home price growth improving
Growth in the average value of homes in some categories of housing in the middle segment of the South African residential property market appears to have reached an upper turning point‚ Jacques du Toit‚ property analyst at Absa Home Loans‚ said on Monday...

South African Reserve Banks worried about inflation
The Reserve Bank has painted a dim outlook for the economy, warning that there is a high probability of global growth and financial shocks that may affect South Africa...

SA REITs: Will investors benefit?
The publication of new listing requirements that will facilitate the South African Real Estate Investment Trust (REIT) structure, will likely see most listed property companies converting to the new dispensation as a result of the tax benefits provided...

Eskom's lower than expected increase brings a reprieve for the commercial property market
Last month's news that power utility Eskom had been refused its application for a 16%-a-year tariff hike for five years - instead being granted an 8% hike - is good news for the commercial property sector, which is being strangled by operating costs...

Recovery in US home market mirrored in South Africa

The USA’s National Association of Realtors (NAR) has come out with an unequivocal statement that the country’s housing market is now steadily moving towards a position where it will once again be a sellers’ market...


SA's gated estates generate 65 000 jobs
National survey shows SA gated estates generate 65 000 jobs and probably pay at least R3,9-billion a year in salaries and wages...

Is Now the Time to Buy?

The 1st Quarter 2013 FNB Estate Agent Survey (released just before Easter) indicates that many estate agents, in the lower, middle and upper end of the market, are seeing positive signs of market recovery...


Today's home buying factors: Price, proximity and design

While the key concerns for many first-time buyers entering the property market are affordability and how close the property is to their workplace, Adrian Goslett, CEO of RE/MAX of Southern Africa, says that buyers who have sold their first homes and are trading up, are more concerned about the features of the home, its design and more importantly, its location...


How safe and secure is the home you want to buy?
Usually we can be well guided by professional agents about the property itself and the buyer is reasonably protected by legislation, but what about the actual security of the home and the neighbourhood...

Alert: Don’t be fooled by phantom offers
Property sellers should ensure that any offers made to buy their homes are genuine - or they will run the risk of delayed transactions and extra holding costs...

Points to consider when insuring residential property
One does not like to consider that an accident might happen and that their property will be damaged or burnt down in the event of a fire - and when they do consider such matters they often console themselves with the thought that the property’s value has been fixed by the bank and regular payments to the bank-related insurance agency ensure that they are adequately covered...

Increasing your property value
“Your property is one of the largest investments you will make in your life time. Maintaining that investment and increasing the re-sale value thereof, is of the utmost importance for when you decide to sell your home these few guidelines could assist you in increasing the value of your property, once you have decided on what your budget will allow,” says Craig Hutchison CEO of Engel & Vӧlkers Southern Africa...

Older and self-employed people have more difficulty in getting bonds than others
Following on from his recent widely publicised plea that South African banks should take into account a bond applicant’s assets – particularly those which he is prepared to offer as additional security on the bond amount...


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Hartbeespoort, North West, South Africa
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In The Area

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

  • Potchefstroom
  • Cape Town
‘Standing room only’ in Potchefstroom
The Northwest town of Potchefstroom is known as a centre of excellence for tertiary education – and for the thousands of students that have long been the mainstay of its rental property and new development sectors...

Cape Town home buyers: Check what new rates and taxes are likely to be
Surprising though this may seem to many people, it is still true that the majority of people buy homes without even asking what the municipal rates and taxes are for the property...

News Continue

Choose the right lawyer to expediate your property transfer
When it comes to selling a property, choosing the right attorney for the job can make all the difference to how long the transfer process will take, says Adrian Goslett, CEO of RE/MAX of Southern Africa.

Get the Sale Agreement & Addendums right!
It is critically important when selling property in South Africa to ensure that the full terms of the property sale agreement as well as all required Addendums are recorded...

Buyers of ST units check on ownership of parking bays
It sometimes happens when buying a sectional title unit that there are “grey” areas as to what the exclusive use areas in the complex are or what areas have been ceded to the owners of unit...


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Tivvit Property Count 12/04/13

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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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