State of the SA property market - Moneyweb, 01 May 2013
The latest issue of Rode’s Report on the SA Property Market reveals a modicum of good news for the industrial property market, says property valuer and economist Erwin Rode of Rode & Associates.
On a national basis, the yearly growth in industrial rentals is slowly heating up, seemingly benefiting from the lagged impact of declining vacancy rates. “In fact, such has been the acceleration in the growth of market rentals in this sector that in the fourth quarter of 2012, prime rentals recorded a nationally averaged growth rate of 7%, with the strongest yearly growth of 9% being achieved in the Cape Peninsula.”
Disappointing, however, is that the national average still failed to be in excess of building-cost inflation. “Hence, we are not yet out of the woods,” cautions Rode.
The news was bleaker for office rentals, still lethargic as a result of generally weak demand. Notes Rode: “Market rentals in Cape Town and Pretoria decentralised barely mustered yearly growth of 3%. Johannesburg decentralised only managed a measly 1% while Durban decentralised actually saw rentals contract by 4%.”
During the first few months of 2013, the yearly growth in national house prices has been able to accelerate impressively. “The low and stable cost of borrowed money (interest rates) may be one possible explanation for this,” says Rode. Another reason may be the still decent growth in household disposable incomes. But, he warns, there are strong headwinds ahead.
Household debt levels remain unpleasantly high, adversely affecting consumers’ credit-risk profiles. Other headwinds in the way of house prices are the current slump in consumer confidence levels, the upward pressure on property running costs and the jittery growth in economic activity. Read more... |
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| | MARKET TRENDS | PMI rebounds, back above key 50-point level but not yet out of the woods – Business Day, 02 May 2013
The seasonally adjusted Kagiso purchasing managers index (PMI) added 1.2 points to 50.5 in April after declining to 49.3 in March, data released on Thursday showed.
Escaping the middle-income trap - Moneyweb, 30 April 2013
The middle-income trap (MIT) is a well-worn concept that describes a danger facing any economy that tries to move from poverty to wealth. Essentially, the phrase is used to describe the phenomenon by which an economy grows, achieves a certain, mid-level of per capita income, and then stagnates at that level, unable to break through the ceiling and join the ranks of high-income nations.
Rand firmer after trade deficit narrows - Moneyweb, 30 April 2013
The rand firmed against the dollar on Tuesday after data showing South Africa's trade deficit narrowed in March, though it faltered in early trade, briefly breaching the 9.0 level.
SA is taking stock - Moneyweb, 29 April 2013
Following the IMF Spring Conference and G20 meeting last week, our Minister of Finance Pravin Gordhan had some grim news. He reportedly did not see meaningfully faster SA growth these next three years, fingering labour instability, electricity supply shortages and repressed business and consumer confidence. |
| | GENERAL PROPERTY NEWS | Building & civil sectors confidence - Property24, 02 May 2013
The FNB/BER building confidence index rose for the second consecutive quarter gaining 5 points, from 32 to 37 during Q1 2013 - the highest reading since 2010.
Global Corporate Real Estate Trends 2013 – eProp, 30 April 2013
Jones Lang LaSalle's second biennial report on global corporate real estate (CRE) trends, which provides powerful insights into the current condition and future direction of CRE. More than 600 CRE executives from 39 countries contributed to this report through surveys and interviews.
Ten potential special economic zones set for scrutiny – eProp, 29 April 2013
Ten potential special economic zones, at least one in each province, had been identified and would be subjected to feasibility studies in the coming months, Trade and Industry Minister Rob Davies said in Parliament Friday.
Rebuilding the image of the construction industry – eProp, 29 April 2013
The suggestion that CEs of construction companies should sign a contract to make them personally liable in cases of collusion has been slated by the industry as a step too far. |
| | RESIDENTIAL PROPERTY NEWS | FNB house price index up 5.2% - Iafrica.com, 02 May 2013
The FNB house price index for April has shown an acceleration to a 5.2 percent year on year (y/y) increase from a revised 4.6 percent (2.2 percent) gain in March. The average value of homes transacted in the FNB house price index was R878‚687 in April.
What are your rights as a tenant? - Property24, 02 May 2013
Renting a home can be full of risks if you don't ensure that you understand your rights and obligations as a tenant. Many of these are outlined in a law called the Rental Housing Act while others may depend on the agreement between yourself and the landlord. Here are a few important things you should know and do when you are renting a home.
Sectional title scheme extensions - Property24, 02 May 2013
Sectional title property owners who would like to extend or alter their units to create more space will probably have to spend a considerable amount of time and money to get the necessary approvals.
Buying an investment property – Property24, 30 April 2013
Why would anyone purchase a second home as an investment? This is usually asked when discussing different investment options, and property versus stocks and shares as a retirement plan is often the debate, says Lanice Steward, managing director of Knight Frank Anne Porter.
Tips for landlords in managing tenants – Property24, 30 April 2013
Acquiring buy-to-let properties within the investment portfolio offers long-term capital growth while providing short- and medium-term income from tenants occupying the house.
Apathetic property valuation protestation - Moneyweb, 29 April 2013
A mere 7 000 Johannesburg property owners have objected to their new property valuations. This represents less than 1% of the metro’s 812 769 properties.
Have a high risk appetite? Buy an inner city property - Moneyweb, 26 April 2013
The capital appreciation of inner city apartments outpaces that of suburban townhouses. If you had paid R100 for a Joburg inner city apartment in 2000 you would have R370 in 2012, as opposed to R332 if you had bought a townhouse in the same period. |
| | | LISTED PROPERTY NEWS | Listed property companies reach 52-week highs – Moneyweb, 02 May 2013
Quite a few listed property companies have reached 52-week highs today. Fortress Income Fund (FFA), Hyprop Investments (HYP), Arrowhead Properties (AWA), Acucap Properties (ACP), Redefine Properties (RDF), Growthpoint Properties (GRT) and Capital Property Fund (CPL) all reached 52-week highs, according to Moneyweb data.
Redefine delivers 7% half-year distribution growth – eProp, 02 May 2013
Redefine Properties today reported 7% growth in its interim distribution of 33,7 cents per linked unit for the six months ended 28 February 2013, achieving the top end of its market guidance.
Ascension Properties gets a R45m loan - Property24, 29 April 2013
Transformation within the property industry and the growth of the listed property sector in South Africa is set to receive impetus following the finalisation of a R45 million loan agreement between Nedbank Corporate Property Finance and Ascension Properties Limited.
Atterbury to list its property fund in Q4 - Moneyweb, 29 April 2013
The Atterbury Group plans to list its property fund on the JSE (JSE:JSE) in the fourth quarter of this year.According to Morné Wilken, chief executive officer of the fund – currently called Atterbury Investment Holdings – the reasons for the proposed listing is twofold.
Vukile’s asset base looks set to top R10bn soon - Moneyweb, 29 April 2013
The proposed acquisition of the Wingspan property portfolio comprising of five regional shopping centres could reportedly push the Vukile Property Fund (JSE:VKE)’s asset base “comfortably above the R10bn level.” |
| | ESTATE AGENT NEWS | RE/MAX prepares for golf competition - Property24, 02 May 2013
The month of June 2013 will see the country’s top long drivers play against each other at the Copper Leaf Golf and Country Estate in the 16th RE/MAX of Southern Africa Long Drive Championship.
Full Knight Frank service Africa plans - Property24, 30 April 2013
An overview of the property industry was given at the “Overview, a Global Perspective” conference held by Knight Frank in London, of which 22 of the 44 Knight Frank international representatives were in attendance. |
| | SPECIFIC AREAS | Affordable homes in Belhar Cape Town – Property24, 02 May 2013
Aurora Place in Belhar is a good example of the gap housing projects which are changing the social fabric of society all over South Africa.
New development: The Gates at Hilton - Property24, 30 April 2013
The Gates at Hilton, a new residential estate on the borders of Hilton College, will enable those who live there to become part of the Hilton College community if they so wish.
Affordable waterside Vaal Dam homes - Property24, 29 April 2013
The Vaal Dam is a hugely popular holiday destination for water sports and nature lovers - many of whom own properties in its three major suburbs, Vaaldam, Vaal Marina and Deneysville.
Sea Point property still sought after - Property24, 26 April 2013
Situated between Signal Hill and the Atlantic Ocean, Sea Point is one of the most densely populated and vibrant suburbs of Cape Town. |
| | INTERNATIONAL PROPERTY NEWS | Commodity trading houses may face tighter rules on disclosure, capital – Business Day, 02 May 2013
The world’s little-regulated and often secretive commodity trading houses could face new disclosure rules, and even capital requirements, because of their money-lending activities, after a global regulatory watchdog’s review of "shadow banking".
Why Mauritian property rules – Iafrica.com, 02 May 2013
Mauritius has long been known as a destination for dreamy-eyed South African honeymooners. But now many hard-nosed investors wanting to mix solid returns with a luxury lifestyle are heading for the tropical paradise too.
Bono's one-time Sydney holiday home sells for record A$54m – Moneyweb, 02 May 2013
A Sydney harbourfront mansion has been sold for a record-setting A$54 million (US$55.4 million) to a Chinese-born businessman, reinforcing the city's growing status as a hot property destination, newspapers said on Thursday.
A home in Omeya Golf Estate Namibia - Property24, 29 April 2013
House prices in Namibia showed steady growth in 2012, driven largely by activity in the middle and upper price segments, according to the Knight Frank Africa Report 2013.
Investment themes in the US - Moneyweb, 26 April 2013
It’s been a banner year for US stock markets so far, with the S&P 500 and the Dow Jones Industrial Average hitting record highs in April. However, for many investors, this is more troubling than anything else, because the last two times the S&P breached the 1500 mark it spelled disaster. |
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