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Gov. Must Join Housing Initiatives
Monday, April 16, 2007 (106 reads)
The debate around the Department of Housing's controversial inclusionary housing proposal rages on with more key property players suggesting that integrating rich and poor households into single neighbourhoods won't work unless government shares in the development risk.
SAPOA, the body that represents commercial property owners in South Africa, has added its voice to that of other property players lobbying government to partner with developers to provide housing for the poor.
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THE STEPS TO FOLLOW WHEN BUYING A HOME
Friday, April 13, 2007 (108 reads)
THE BIG DECISION
Buying a property is probably the biggest single purchase you will ever make in your lifetime. It is both a major financial commitment and a huge change in your life. Either way it is an investment in your (and your family's) future and one that you should approach with prudence.
FIRST STEPS
Your first step is to determine what you need and where you would like to live. Local property supplements and the internet will give you a good idea of what is available and, most importantly, for how much. Remember to factor in things like proximity to schools and transport routes, crime and security, future potential of the area and even what your neighbours will be like.
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Same Sex Conveyancing 'problematic'
Thursday, April 12, 2007 (113 reads)
Recently same-sex couples were granted leave to marry under the Civil Unions Act. This has caused ramifications that are being felt in the property conveyancing industry at present.
The legal ramifications of applying the controversial Civil Unions Act recently passed in a historic vote by the National Assembly are already being felt. As the Act, which legalises same-sex unions, is applied in matters such as adoption, insurance, immigration, estates and conveyancing, so discrepancies are arising, because existing legislation generally assumes that married couples are heterosexual and refers to the partners in a union as husband and wife.
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Call For Comment On Jhb Rates Hike
Wednesday, April 11, 2007 (106 reads)
Residents are urged to submit their comments on the proposed increases of Johannesburg assessment rates and tariffs for the 2007-08 financial year. The City has called for objections to or comments on the amendments from its citizens. Written objections, comments or representations can be sent to the City manager by Friday, 23 April.
Residents can also go to the Office of the Budget, 14th floor, 66 Jorissen Place, second floor west wing, in Braamfontein, during office hours where an official will be available to assist those who cannot write.
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Valuations Reduce Voetstoets Risks
Tuesday, April 10, 2007 (88 reads)
A home with cracked foundations, collapsing roofs, bad damp problems; these are just some of the true horror stories from the book of property buying and building as uncovered by a South African home inspection agency. With the voetstoets clause under current scrutiny, professional home inspections before selling are crucial.
"A home is the largest investment most people will ever make - it makes sense to find out as much as you can about the house you are interested in before you buy," says CEO of Inspect-A-Home Eric Bell. "It's a fact that houses are sold every day with a variety of undetected defects resulting in high costs of both repair & despair."
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Navigating correcting markets: US sub-prime mortgages and South African residential property
Tuesday, April 10, 2007 (124 reads)
The median house price rose marginally in March to R580 000 from R570 000 in February, recording 1.8% month-on-month growth; year-on-year growth moderated modestly to 8.4% from 8.6% in February. The five-month moving average rate, which is one of the measures that can be used to represent trend growth, remained essentially flat at 7.7% y/y in March from 7.6% in February. The local housing market seems to be reasonably strong amid the moderation in global housing markets and the concerns surrounding the American housing market especially.
It is clear that the US sub-prime market has over-extended itself, with nasty consequences for both lenders and borrowers in that segment of the mortgage market. However, whether the impact will extend to the broader US property market and also offshore is less obvious. The key channels through which the sub-prime market can impact on the South African housing market and economy are:
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Thousands of land claims outstanding
Tuesday, April 10, 2007 (99 reads)
There are still 5128 rural land claims outstanding in the nine provinces of South Africa, according to Agriculture and Land Affairs Minister Lulu Xingwana.
Responding to a question from Democratic Alliance MP Maans Nel, who asked whether all these outstanding claims had been gazetted, the minister said that they had not.
"Some of these claims are fairly complex and are still in a research phase to determine their validity; for example, where a claim requests a right to more than one portion of land."
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Nedbank Guide to the economy
Tuesday, April 10, 2007 (149 reads)
CONTENTS
Features:
Is consumer debt worrying? 1
The strong rise in debt is causing concern that household finances have become overstretched.By international measures the situation does not look too serious. However, consumers are more vulnerable tounexpected interest rate rises and caution on the part of the authorities is warranted.
Economic review and forecast 4International
• Global prospects less favourable as the US economy slows.
• The possibility of easier US monetary policy grows, while interest rates elsewhere are still rising.
• Commodity prices still volatile but firm.
• Equity markets recover after February jitters.
• The dollar continues its weaker trend.
Domestic
• The economy maintains its momentum in the fourth quarter.
• The current account deficit rises to 7,8% of gdp in the final quarter.
• Interest rates put on hold as the effect of earlier interest rate rises are assessed,but short-term inflation outlook worsens.
• The equity market recovers to new highs in March 2007.
• The rand remains volatile, but recovers earlier losses incurred on fears of a weaker global economy and lower commodity prices.
Facts and forecasts
• Annual 7
• Quarterly 8
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'sold' Banner Extended
Thursday, April 05, 2007 (105 reads)
The popular 'Sold' banner on sold properties has now been extended to remain up for 72 hours. The reason for this is to cater for weekends and to give you as an agent additional exposure on the site.
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Absa in the affordable
Wednesday, April 04, 2007 (125 reads)
ABSA, the country’s largest consumer bank, has boosted the roll-out of affordable housing by providing R2.6-bifflon of mortgage finance for a new affordable housing development in Centurion.
Like its”big four” banking peers, Absa has found a way around slow-moving local authorities —and the challenges of proving title - that have hampered attempts to provide home loans to the entry-Ievel .market in the past.
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