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15 March 2013

 
FROM THE EDITOR

Despite government making good progress with a number of initiatives to enable greater access to affordable housing opportunities, much work remains, says Deputy Minister of Finance Musa Nene. And, he says, the private sector can and should play a significant role in making such opportunities a reality. Read more in Gap housing market needs major attention

In You don’t have to buy the ‘average’ house, Berry Everitt, Managing Director of the Chas Everitt International property group, says that although the average salary won’t buy you something in the average house price range now, that does not mean prospective property buyers should give up on the idea of home ownership.

The current deposit requirements for home loan approval are among the biggest obstacles to increased home sales and faster property price growth. But just what the extent of the deposit obstacles might be has not been quantified until now, with the release of new statistics by BetterBond, SA’s leading mortgage originator, which show how the home buying plans of many consumers are being delayed by many months due to rising deposit requirements. Read more in 'Deposit drag'keeps market on a choke-chain

In Focus on this week we take a closer look at Nelspruit, the “buzzing bush city” made of fertile valleys, rocky hills and a distinct selection of Mamma Africa’s unique plant & animal species.

Enjoy!
The editor

In This Issue
Property of the Week

Nelspruit, Mpumalanga
Meticulous attention to detail and fine craftsmanship are the hallmarks of this remarkable residence...


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News

House price growth improves further in February
February 2013 saw year-on-year growth in the average value of homes in the middle segment of the South African housing rising further...

Latest budget has bolstered property buying
The home buying public of South Africa is very aware of economic trends: they watch the interest rates and home buying tax structures carefully and react to positive measures...

Gap housing market needs major attention – Deputy Minister of Finance
Despite government making good progress with a number of initiatives to enable greater access to affordable housing opportunities, much work remains, says Deputy Minister of Finance Musa Nene. And, he says, the private sector can and should play a significant role in making such opportunities a reality...

Long term vision will drive property success over the next 10 years
Even with its ups and downs over the past fifty years, real estate is still the best investment people can make and the only opportunity people have to generate any real net worth for themselves...

South African property doesn't come cheap

Investors looking for property in South Africa need to be prepared to pay top dollar, as the country continues to suffer from a shortage of affordable housing...


Transformation in the estate agency sector poses real challenges
Transformation, an obviously desirable goal with political, financial and social benefits for the whole of South African society, is, nevertheless, particularly difficult to achieve in the estate agency sector...

You don’t have to buy the ‘average’ house

The average salary won’t buy you something in the average house price range now, but that does not mean that prospective property buyers should give up on the idea of home ownership, says Berry Everitt, Managing Director of the Chas Everitt International property group...


'Deposit drag'keeps market on a choke-chain
Everyone in the property market knows that the current deposit requirements for home loan approval are among the biggest obstacles to increased home sales and faster property price growth...

Originators better than your bank if you want a home loan

Many homebuyers still believe that their best chance of obtaining a home loan is to apply to their own bank – especially if they are long-term customers in good standing...


Generation Y, the future of the property market
Although it is the buyers aged between 31 and 45 years old, known as Generation X, that are currently driving the property market, Adrian Goslett, CEO of RE/MAX of Southern Africa, says that the younger Generation Y buyers are eager to get their foot in the property ownership door and have strongly made their presence felt in certain regions throughout the country already...

Sole mandates are definitely the best way to market property
One of the liveliest discussions at the Rawson Property Group’s annual conference, held at the Arabella Hotel and Spa in Kleinmond during February, revolved around the subject of sole mandates – and there was almost universal acceptance that these work better than any other system, for both the seller and the agent, particularly when compared to open mandates...

Make moving easier – with help from the previous owner
It may sound strange but the best way to get to know your new home is often to ask the previous owner – after you have signed a sale agreement and set the transfer in motion...

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Focus On

Nelspruit, Mpumalanga, South Africa
Nelspruit has been called the gateway to Mpumalanga and the Kruger Nationl Park. With its sub-tropical climate and abundant sunshine and lush covered hills and valleys it forms the ideal base to explore Mpumalanga from...

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In The Area

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

  • Irene
  • Bloemfontein
Every building in Route 21 Corporate Park gets dark fibre
After becoming the first office park to install an open-access dark fibre network three years ago, Route 21 Corporate Park, the R2 billion office park development near Irene, has now moved into phase two...

Bloemfontein South property now attracting a steady stream of buyers
When a major property group’s franchisee reports that he has, in the last year, recorded an average sales growth of 3% per month, is now selling 10 to 12 homes every month and has recently bought his own offices (for R1,3 million)...

News Continue

Real Estate must-haves for success

The 600 plus RE/MAX of Southern Africa delegates who attended the extremely successful RE/MAX of Southern Africa Stars Convention 2013 held at Sun City during February, were inspired and motivated by keynote speaker, Brian Buffini, the world’s leading real estate trainer...



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Tivvit Property Count 15/03/13

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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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