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Jhb varsity suburbs performing well
Friday, September 28, 2007 (181 reads)
Property in suburbs around Johannesburg's two universities retains its gloss.
"This market will always draw buyers because of its central location, and with increasing traffic volumes and rising fuel costs, growing numbers of buyers are starting to look at suburbs near the city centre," says Heidi Bester, area specialist at Chas Everitt International's Campus Square office in Melville.
Overpricing in some areas, such as Melville, is depressing the market slightly – "with many sellers stuck in 2006 and asking up to 20% more than the market will bear" – but there is still good demand.
Two and three-bedroom semi-detached units in Melville are available from around R1m, while most sell in the R1,4m to R1,8m range. Prices for restored semis can be as high as R5m
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Property auction sales to grow fast
Thursday, September 27, 2007 (185 reads)
The sales value of residential property auctions is set to grow faster than the value of any other type of auction if South Africa follows the international trend.
So says Rob Whiteley, national manager of RealMart First Resort Auctions, who notes that the latest statistics from the National Auctioneer's Association in the US show that vehicles still account for the most auctions and generate the highest amount of revenue, the value of residential property auctions is currently showing the highest growth
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Mind your language when selling
Wednesday, September 26, 2007 (189 reads)
Many jokes do the rounds about what the jargon in real estate advertising really means, but a Canadian study has now shown that the choice of words in an ad really does influence selling price as well as the time it takes to sell a property.
The research was conducted by Prof Paul Anglin of the University of Guelph in Ontario, who studied the response to about 20,000 listings over a period of three years.
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Think young when buying to let
Tuesday, September 25, 2007 (169 reads)
Homeowners preparing their properties for sale as well as buy-to-let investors need to think about the features that will most impress the new generation of buyers and tenants – and the lifestyles of young adults can provide valuable clues.
For example, says Berry Everitt, managing director of the Chas Everitt International property group, young people tend to seek entertainment outside the home much more frequently than their parents did.
"This indicates that a young couple with two salaries coming in may well prefer an area close to restaurants, cinemas, clubs and other leisure venues. In addition, a formal living room and dining room is likely to be much less important to them than an older generation buyer."
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Banks urged to give something back to borrowers
Monday, September 24, 2007 (178 reads)
DURBAN (September 15) – South African home loan lenders were urged to become more entrepreneurial and to initiate strong customer loyalty programmes by Jeanne van Jaarsveldt in his opening address at the RE/MAX of Southern African convention on Durban’s North Coast on September 13.
With competition between the lenders for business at its most aggressive ever in the history in the home loan environment and likely to further intensify he believed a strategic shift in the movement was vital. “But it must be a shift that builds genuine loyalty between lender and borrower and it must be based on a long-term commitment by both parties.”
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Homeowners preparing their properties for sale and...
Friday, September 21, 2007 (177 reads)
Homeowners preparing their properties for sale and buy-to-let investors need to think about the features that will most impress the new generation of buyers and tenants - and the lifestyles of young adults can provide valuable clues.
For example, says Berry Everitt, MD of the Chas Everitt International property group, young people tend to seek entertainment outside the home much more frequently than their parents did.
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B&B properties in demand for 2010
Thursday, September 20, 2007 (177 reads)
The demand for B&Bs, guesthouses and properties suited to conversion is increasing as the countdown to the 2010 Soccer World Cup continues.
Published figures show that the organising body FIFA alone will need 55 000 beds for players, team officials, FIFA officials, staff and sponsors. In addition, estimates are that up to 750 000 overseas visitors can be expected to enter the country during the tournament.
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Double whammy for office property market
Wednesday, September 19, 2007 (174 reads)
Double whammy for office property market
After many years of underperforming, office rentals are set to soar sky high as both demand and supply side factors are exerting upward pressure, predicts the Rode team.
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Property sellers need the heavyweight support:
Tuesday, September 18, 2007 (181 reads)
Now, more than ever, home sellers need the heavyweight support of established real estate brands, says Aida CEO Alex Fenwick.
"The South African property market is currently much more favourable to buyers than it has been and it is undoubtedly becoming more difficult for sellers to achieve their asking prices," he notes.
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THINK BEFORE YOU BUY-TO-LET:
Monday, September 17, 2007 (179 reads)
Why buy-to-let is not a good idea:
If we weren't so emotional about our homes, the best financial decision for us to make at a time like now when real house prices are near or at the top of the property cycle, is to sell and rent, and to buy again when house prices are on the decline. In the meantime we would invest the profit from the sale and the difference between our monthly rental and the bond payments we used to make, and invest it in another asset with higher returns.
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