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Randburg Street Names Not Yet Final
Wednesday, January 31, 2007 (217 reads)
Out with the old and in with the new – two of Randburg's major roads are to be renamed in the spirit of our democracy. But the decision on the new names has not yet been taken.
The new names for Randburg's Hendrik Verwoerd Drive and Hans Strijdom Drive are being finalised.
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Rates Shock For Property Owners
Tuesday, January 30, 2007 (208 reads)
Owners of sectional title units in the Western Cape will be charged individually for property rates and services by their municipalities this year, the Business Day reported on its website on Monday.
A new rates policy is to be implemented across South Africa under the Local Government Municipal Property Rates Act 2004. Under the new dispensation, property owners may in some areas be required to pay higher rates.
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Ct Property Boom Ignores Rate Hikes
Tuesday, January 30, 2007 (199 reads)
Strong sales of residential property along Cape Town's Atlantic Seaboard continue, with an estate agency in the area saying it has sold properties worth 200 million rand since July last year.
Lance Real Estate said on Monday that the growth momentum did not seem to have been dampened by four interest rates hikes last year. "The last six months have been simply phenomenal," said Lance Cohen, head of Atlantic Seaboard residential property specialists, Lance Real Estate
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Developer pays R140m for 3ha in Sandton CBD
Monday, January 29, 2007 (211 reads)
In one of the most expensive land sales yet recorded in Johannesburg, a developer acquired about 2,83ha of land in the Sandton central business district for more than R140 million. The sale, which was brokered by Firzt Realty Company, also included the individual purchase of 50 sectional title residential units situated on the land.
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Nedbank Property Talk
Sunday, January 28, 2007 (127 reads)
Welcome to the first edition of Nedbank Property Talk for 2007. I’m sure we all can’t help wondering what 2007 holds for the property market. Predictions for the year ahead include:
- CPIX inflation is expected to exceed the 6% inflation target early in 2007. As a result interest rates are forecast to rise by a further 50 basis points in February and April
Monetary policy adjustments normally take 6 to 9 months to reflect in the economy, mortgage advance growth is expected to reflect this by a slow down trend towards the end-2006/early-2007
- In view of further interest rate hikes expected up to April, housing affordability is expected to be negatively effected, as a result nominal house price growth is projected to continue its downward trend.
- Projected nominal house price for 2006 is 14.5%, the forecast for 2007 is 8%.
- Projected mortgage advances growth for 2006 is 28%, for forecast for 2007 is 15%.
- Inner city and ‘affordable areas’ are predicted to ‘cook’ in 2007.
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Bonds Harder To Get With Credit Act
Friday, January 26, 2007 (210 reads)
Although the new credit act will only come into force from this year (2007), banks are already aware of its implications and applying the more stringent borrowing criteria which it will enforce, says Lanice Steward, MD of Anne Porter Knight Frank
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Gautrain,rates boost rental demand
Thursday, January 25, 2007 (225 reads)
Gautrain, rates boost rental demand Rentals up to R30000 for foreign staff WITH the
Gautrain rapid rail link project gathering momeptum, demand for residential rental accommodation in Johannesburg’s northern suburbs is becoming stronger as foreign staff
involved in the project are sent to SA. US international television network CNE C’s expected arrival in the country this year and Barclays Bank’s entry have also contributed to strong demand for rental accommodation.
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Commercial Property Steams Ahead
Wednesday, January 24, 2007 (211 reads)
While residential property prices in South Africa are coming off the boil, the commercial and industrial market is steaming ahead. All indications are that 2007 will be another buoyant year.
According to Neil Main, executive director at Absa Mortgage Fund Managers, while residential property prices in South Africa are coming off the boil, the commercial and industrial market is steaming ahead. All indications are that 2007 will be another buoyant year.
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Higher rates slow building plans
Tuesday, January 23, 2007 (201 reads)
While overall levels of South African building activity are being maintained, the outlook for short-term growth has declined on the back of higher rates, according to analysts.
The -8.8% decline in residential building plans passed in November marked the fifth successive month of negative growth in the sector, while on a seasonally adjusted basis, growth declined -2.7% month-on-month (mlm) and -6.3% quarter-on-quarter (q/q).
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Exploring Property with the COG professionals
Monday, January 22, 2007 (198 reads)
Anyone in the property game would agree that no-one never ‘knows it all”. In an ever-changing market every day rings new insights, every interaction offer, fresh ideas and every challenge spurs alternative action. At the same time it’s a game where hands-on experience and a working understanding of the industry proves invaluable. As Jack Trevena, MD of Bond Excel; Geoff Els,. MD of Combined Originator Group; Martin Coetser MD of Independent Bond Originators, Tom Gillham, MD of Dimension Home Loans and Mark Beckett, CEO of Bond Choice prove once again
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