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SA PROPERTY TRENDS
Friday, September 14, 2007 (154 reads)
There are increasing signs that the demand for listed property cannot be adequately met by existing property funds.
Garth Johnson, editor of Rode’s Report, a quarterly overview of the local property market, predicts that this phenomenon is giving rise to the emergence of a new megatrend in the local property market — that of greater specialization of property funds, both in terms of type and grading.
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Is it rational for listed property yields to be lower than bond yields?
Thursday, September 13, 2007 (134 reads)
Since 1998, listed property yields have closely tracked those of long bonds, implying that investors view these assets in a similar light. More recently, however, listed yields have dropped below those of bonds. Since bonds are less risky than listed property, this begs one to ask, firstly, whether the listed property market is overvalued, and secondly, for how long can property yields remain below those of bonds
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Market outlook for developments
Wednesday, September 12, 2007 (132 reads)
Have recent economic events affected the outlook in terms of development in South Africa? Monté Jordaan, MD of Multi-Projects, a Somerset West-based investment property marketing company, says: ‘We have exclusively marketed 42 new developments, and Multi-Projects is currently involved with more than R1.9 billion of property developments in the Helderberg, Cape Town, Boland and Southern Cape. With all of our developments I have always said that if you get the combination of pricing and quality right, the demand will always be there.
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Is now a good time to sell and buy property?
Tuesday, September 11, 2007 (145 reads)
The short answer to the question is: YES! And the chances are that if you’re asking this question, your circumstances have changed or are about to change. Perhaps these are changing with an imminent new arrival, or the imminent departure of the now “not-so-new” arrivals, and you’re looking at making long-term decisions regarding your future home,” says Justin Marshall, Principal of Leapfrog in Woodstock.
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Credit act and interest rates has mixed effect on market
Monday, September 10, 2007 (85 reads)
The National Credit Act introduced in July this year and the six consecutive interest rate hikes since July last year are impacting on the mass market, but not on all property prices and sales.
So says Barak Geffen, executive director of Sotheby's International Realty South Africa who says sales in the Eastern Cape, Garden Route and Western Cape have grown by 50 per cent year on year for the month of July.
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Value of property auctions set for speedy rise
Friday, September 07, 2007 (112 reads)
The sales value of residential property auctions is set to grow faster than the value of any other type of auction if SA follows the international trend.
So says Rob Whiteley, national manager of RealMart First Resort Auctions, who recently attended the 58th International Auctioneers Convention and Show in San Diego.
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Rode annual conference to examine National Credit Act
Thursday, September 06, 2007 (86 reads)
The new National Credit Act and the impact it has on the South African property scene will be one of the numerous highlights at the upcoming annual Rode Conference on Property in South Africa, to be held in Cape Town and Johannesburg in September.
The talk ‘Practical implications of the National Credit Act for the property market’ will be presented by a practicing attorney, notary and conveyancer who regularly addresses the Institute of Estate Agents in South Africa.
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Nedbank Weekly economic monitor
Wednesday, September 05, 2007 (78 reads)
The rand ended the week firmer, supported a weaker dollar and heightened
expectations that the Reserve Bank will raise interest rates again in October.
The local unit closed at R7,15, R9,72 and R14,44 on Friday, against the US
dollar, the euro and the British pound respectively, compared with R7,23,
R9,81 and R14,54 at the end of the previous week. The local bond market
weakened, with the yields on the benchmark R153 2010 and R157 2015
closing the week at 9,31% and 8,61% respectively, up from 9,15% and 8,42%
at the end of the previous week, while the yields on the 3-, 5- and 10-year
BESA actuaries rose to 9,30%, 8,88% and 8,46% respectively from 9,15%,
8,71% and 8,27%.
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Bid to approve building requests faster
Wednesday, September 05, 2007 (97 reads)
The City of Johannesburg has announced that it intends to dramatically cut the red tape involved in building and rezoning applications. Craig Hallows, spokesperson for the Association of Property Unit Trusts (Aput), said, “ property development has been hampered by slow rezoning and township development approvals, to the determent of the whole industry. This has contributed to the shortage of suitable property stock for property unit trusts, so any improvement is to be welcomed.”
Johannesburg is aiming to streamline the process for property developers with the opening of its new Metro Link Centre next month. A single, integrated town-planning scheme is envisaged for Joburg to replace the old segmented one.
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Residential property gauge
Tuesday, September 04, 2007 (111 reads)
The median house price1 increased by 5.7% y/y in August, down from the 10.4% y/y
increase reported in July. The fivemonth moving average growth rate, which is a
popular measure used to gauge trend growth, fell modestly to 10.6% y/y in August
from 11.1% y/y in July. As pointed out in our June Residential property gauge, the
last three months’ data, especially June’s, should be interpreted with some
circumspection since they are likely to have been subjected to several distortions.
The purpose of this note is to review data developments over the last three months.
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