- Home affordability RIP
‘The final nail in the coffin of home affordability’.
That’s how Mike Bennett, Managing Director of Durban’s largest independent property group, ProProp, describes eThekwini Municipality’s proposed new rating system. He says the new system, which advocates home owners paying R0.009 for every Rand in the value of the property, will see rates in some suburbs rise by up to 140 percent.
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Woodstock and Sea Point cited as sound investment areas
Although there are still good returns to be made in the South African property
market in general, many property investors are at a crossroads as they mull
over the most likely sector of the market to provide the best returns.
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Chas Everitt International launches into KZN
Chas Everitt International, one of the fastest-growing property groups
in South Africa, has begun its planned expansion into KwaZulu-Natal with
the opening of its first office in the province at Ballito on the north
coast.
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British women in estate agency lead the way
British female estate agents are putting their male colleagues on the back
foot when it comes to vocational training, according to figures from professional
body, the National Association of Estate Agents (NAEA).
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Average price of Cape Town’s City Bowl rise by 60%
Between May 2004 and May 2005 the average price of homes sold in Cape Town’s
suburb of City Bowl rose by 60 percent from an average selling price of
R801 195 to R1 383 229, according to the Residential Property Price Indicator
(RPPI).
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Rawson praises FICA, but difficult to implement
DURBAN (August 11) - Civil servants are getting the thin edge of the wedge in the wake of the property market's highest ever property explosion and the wedge promises to be wafer thin by year's end if Absa's forecast of 15 to 20 percent rise in house prices for the year materialises...
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Cluttons SA on the licensing trail
Cluttons SA has begun a programme of selling licenses to underpin its national expansion strategy.
To date, the agency says in a Cape Town issued media release, it has signed on two new licensees; the first in the Southern Seaboard and the other in the Boland and Overberg...
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- SA property not expected to follow European downturn
Pessimists who believe the South Africa residential property market will follow the now almost universally predicted European and United Kingdom downward trend for the next year and see decreases in the value of their homes are almost certainly wrong, says James Wilson, property development director or Cape Town-based AMDEC...
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KwaZulu-Natal building costs edge toward 20%
Rising costs over the past three years, and particularly the past 12 months where increases edged towards 20 percent in KwaZulu-Natal, is putting pressure on rentals and prices in new commercial and industrial developments...
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- Bricks and mortar, then the altar
Shifting social trends and traditions coupled with empowerment and growing equality in the workplace mean that many more women are buying their own homes as a mark of independence - often before getting married...
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- SA REPO rate unchanged at seven percent
South Africa's Monetary Policy Committee left the REPO rate unchanged at seven percent at its meeting in Pretoria yesterday, according to a statement by the SA Reserve Band governor Tito Mboweni...
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Potchefstroom struggles with affordability
Despite Potchefstroom's municipality having approved plans to build 5 000 new cluster homes in the area, the shortage of affordable stock is likely to worsen in the face of a lack of development in the R100 000 to R300 000 price range...
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- Homenet reports market slowdown
The residential property market is slowing down, particularly in certain areas of KwaZulu-Natal and the Eastern Cape, where price have outstripped affordability levels, according to Homenet managing director Dave Rogers...
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- Bluechip Cape developer takes R226m stake in Simbithi
Bellandia, the 38-year-old Cape residential property developers, has launched a R226 million project at Thompson's View, Ballito Bay on the KZN North Coast...
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RICS says British homes becoming condensed
British homes are becoming condensed, with more rooms in the same space, says a five year review of UK housing published on August 12 by the Royal Institution of Chartered Surveyors (RICS)...
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- The Ballito Market
Ballito's market entry is about R750 000 for a one-bedroom apartment, Amanzimtoti about R720 000 for a basic house and Pietermaritzburg in the region of R350 000 for a tiny CBD flat...
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The Ballito Market #2
On the north coast Ballito's luxury market appears to have lost some of its long-running lustre, but not at the planned Ballito Manors where RE/MAX Dolphin has sold 90 percent off-plan of the 82 units in three weeks in the oceanfront residential development. These sales figures exclude apartments already reserved, but not finalised...
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Bond Choice forecasting dip in price increases
Softening rentals in the top end of the market and the revitalisation of the Johannesburg Stock Exchange investment opportunities will definitely drag down earlier forecasts of property price growth this year, according to Bond Choice managing director Mark Beckett...
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The emerging market has surfaced
The emerging market has emerged, according to RE/MAX Southern Africa.
Statistics indicate in areas such as Pietermaritzburg an estimated 40 percent of all residential property sales now involve previously disadvantaged buyers and their full merging in all buying sectors within the property market...
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Foreign banks arrivals will benefit borrowers
South African property investors and homebuyers can look forward to a growing offering of sophisticated and innovative borrowing packages as international banks re-enter the country's financial markets, according to an article in the August edition of Intellectual Property magazine...
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SA property market will not mirror European trends
There are good reasons for believing that South Africa's current residential property boom will not fall off drastically in the way that is now being predicted for the UK and European markets, according to property analyst Ian Fife...
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- KZN's South Coast in the midst of a property boom
Investors scouring the market for opportunities are looking to the KwaZulu-Natal South Coast, which is in the midst of a property boom with annual returns of 35 percent and more...
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