MARKET TRENDS |
Interest
rate hike to have 'moderate effect' on economy - Business Day, 30
January 2014
The 50-basis-point interest rate hike implemented by the
Reserve Bank's monetary policy committee (MPC) on Wednesday will have a moderate
effect on consumer spending, credit uptake and economic growth, according to
economists.
SA:
What happened between 2006 and 2012? - Moneyweb, 30 January 2014
In the period between 2006 and 2012, South Africa has seen little to no
improvement in a number of key areas that drive its competitive performance.
Civil
summonses issued for debt - Property24, 30 January 2014
According to Statistics South Africa (Stats SA) the total number of civil
summonses issued for debt increased by 0.3 percent in the three months ended
November 2013 compared with the three months ended November 2012.
Rand
'recovers' after rate hike surprise - Moneyweb, 29 January 2014
Reserve Bank Governor Gill Marcus has announced a 50 basis point rate hike.
The repo rate is now 5.5%. "Further moves in the repo rate will be highly data
dependent. We will continue to monitor developments closely and will not
hesitate to act as required in keeping with our mandate," said Marcus.
South
African economic outlook 2014/15 - Property24, 28 January 2014
After slowing to 2.5 percent in 2012, South African economic growth
continued to underperform in the second half of 2013. Real growth in Gross
Domestic Product (GDP) moderated to an annualised rate of 0.7 percent
quarter-on-quarter (q/q) in Q3 2013 from 3.2 percent in the second quarter.
SA
banks heavily exposed to country, industry risks – S&P -
Moneyweb, 28 January 2014
Negative rating factors outweigh the positive,
as domestic banks face downside risks to the South African economy over the
coming year, weighing on their credit prospects and causing continued negative
outlooks, ratings agency Standard & Poor's (S&P) said in a report on
Monday.
SA
tentatively rebalances as global economy faces recovery - eProp, 28
January 2014
A better global growth environment, combined with some
current account improvement and better policy implementation might lead to an
improved outlook for the South African economy in the year ahead, especially
compared to last year. |
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| GENERAL PROPERTY
NEWS |
Use
electricity sparingly, says Eskom- Property24, 30 January 2014
Eskom
says the power system will remain extremely tight until new generating capacity
comes on stream and essential generation maintenance is done.Eskom calls on all
electricity consumers to reduce their electricity usage as we move further into
summer and continue with planned maintenance on the generating units.
Rawson
Auctions achieves 271% turnover growth in 2013 - eProp, 29 January 2014
Rawson Auctions, which now has active franchises in the Western Cape and
Gauteng, saw a 271% growth in turnover last year. This, says Leon Breytenbach,
the Rawson Property Group's National Commercial Manager, puts Rawson Auctions in
a strong position to expand further.
Housing
projects expand beyond small developers - eProp, 29 January 2014
Out
of SA's total university student population of about 535,000, less than 110,000,
or 20% of students, can be housed on university campuses, figures from the
Department of Higher Education and Training show.
Withholding
Tax on Cross-Border fees - Property24, 28 January 2014
The Income
Tax Act, 1962 was recently amended to provide for a new withholding tax on
cross-border service fees. According to the new law, a withholding tax of 15
percent must be levied on the amount of any service fee that is paid by any
person to or for the benefit of any foreign person to the extent that the amount
is regarded as having been received by or accrued to the foreign person from a
source within South Africa.
What
should you look for when selecting an asset manager? - eProp, 27 January
2014
Dealing with other people's money carries a fiduciary duty and
responsibility. When making decisions regarding fund managers in whom to place
your trust, it is important to assess them carefully and with due diligence.
SA
has wealthiest people in Africa - Property24, 27 January 2014
According to Wealth Statistics in Africa report by New World Wealth, South
Africans are the wealthiest individuals in Africa with US$11 310 in wealth per
person, while Ethiopians are the poorest with US$260 per
person. |
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| RESIDENTIAL
PROPERTY NEWS |
Rate
hike a blow to housing market? - Moneyweb, 29 January 2014
The South
African Reserve Bank (Sarb) has increased the repo rate by 50 basis points to
5.5%, amidst concerns over the inflation outlook. The announcement will be
welcomed by pensioners who rely on interest, but will likely be to the detriment
of the housing market which seems to have entered a recovery phase.
Interest
rates and the property market - Property24, 29 January 2014
While
inflationary concerns and global economic impacts remain in the spotlight, the
Monetary Policy Committee’s stance to increase the repo rate stable was
unexpected, particularly given the sluggish economic growth currently
experienced in South Africa, says Dr Andrew Golding, chief executive of the Pam
Golding Property group.
Building
activity and housing costs - Property24, 29 January 2014
The Absa
report reveals that since the start of 1994 to November 2013 a total number of 1
123 242 private sector financed new housing units were built countywide, of
which about 823 370 units, or 73.3 percent of the total, were constructed in the
segments for smaller-sized houses (measuring below 80 square metres) and
higher-density flats and townhouses.
Move on property now
- Iafrica.com, 28 January 2014
While it is undeniable that year-on-year
growth in the housing market did slow down fractionally from April 2013 and that
consumer confidence hit a new low in the fourth quarter of last year (-7 on the
scale), those commentators on the residential property market who in recent
months have been saying that from here on the market will improve, albeit
slowly, are almost certainly correct.
Attracting
multiple offers on property - Property24, 28 January 2014
Homeowners
who plan to sell their property this year may find the conditions slightly more
to their liking than in the past few years. This is according to Adrian Goslett,
CEO of RE/MAX of Southern Africa, who says various factors will come into play
and have a positive impact on the housing market over the next 12 months.
Homeowners
under strain sell and rent - Property24, 24 January 2014
The FNB
report recently revealed Reasons for selling property in SA and 14 percent of
sellers in the fourth quarter of 2013 were selling due to financial pressure.
Estate agents surveyed in the report noted that some of those sellers either
bought cheaper properties or opted to rent
instead. |
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| ESTATE AGENT
NEWS |
Intersect
to manage Kylemore ST - Property24, 29 January 2014
Intersect
Sectional Title Services has been appointed to manage a further sectional title
scheme within the Victoria and Alfred Marina, arguably the best sectional title
address in the country.
Keller
Williams lays solid foundation in SA market - eProp, 28 January
2014
Although Keller Williams Realty, the biggest estate agent group in
the US and the second-biggest in the world, made a low-key entrance in the South
African market, it has been an overwhelming success, the group's South African
head, Neil Cronje, said last week.
RE/MAX
top real estate franchisor - Property24, 28 January 2014
Global franchisor RE/MAX once again holds the top position among real estate
brands, as ranked in the 35th Annual Entrepreneur 2014 Franchise 500®. This
year's ranking is the 11th time in 15 years that the Franchise 500 named RE/MAX
as the top franchisor in the real estate category.
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| SPECIFIC AREAS |
Goodwood
homes in high demand - Property24, 30 January 2014
The middle
class Cape Town suburb of Goodwood with around 20 000 properties sited just 12
kilometre from the city centre, has become a high-demand precinct.
Llandudno
beach villa for sale at R39m - Property24, 29 January 2014
One of the most prestigious coastal properties in all of Cape Town has come
onto the market, located in a prime position right above the Blue Flag Llandudno
beach.
Germiston
Central home prices up - Property24, 29 January 2014
Situated
on the East Rand of Gauteng, Germiston was initially established in the early
days of the gold rush when two prospectors struck their fortune on the farm of
Elandsfontein. The one's name was John Jack who was originally from a farm
called Germiston near Glasgow and the other was August Simmer from Vacha in
Germany.
Rondebosch
flats a good investor bet - Property24, 28 January 2014
The
sectional title property market in the Cape Town suburb of Rondebosch and its
surrounding areas Rosebank, Newlands, Observatory, Claremont and Kenilworth has
proved to be one of the best performers in the entire South African property
sector.
Westcliff
– Joburg's most expensive suburb - Moneyweb, 27 January 2014
If you want to live in Johannesburg's pristine and sought-after suburbs,
then Westcliff is your best bet, with high-end residential properties valued on
average at R8.4 million.
Kuils
River homes in demand - Property24, 27 January 2014
New
middle-class families are snapping up large homes in Kuils River and demand is
leading to stock shortages in the middle price range. "Homes that offer value at
prices between R1.5 million and R2.3 million are now often sold within a day of
being listed," says Ronelle Venter, owner of the local RealNet real estate
franchise. |
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| INTERNATIONAL
PROPERTY NEWS |
Federal
Reserve cuts stimulus as expected - Business Day, 30 January 2014
The US Federal Reserve on Wednesday decided to trim its bond purchases by
another $10bn as it stuck to a plan to wind down its extraordinary economic
stimulus despite recent turmoil in emerging markets.
Mauritius
opportunities excite South African property investors - eProp, 24
January 2014
South African investor interest in Mauritius has grown
strongly over recent years, from individuals taking up incentivised properties
as well as from big business. |
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