SA house prices forecast to double in second half of decade
RodneyHayter.com - South Africa
Long-term prospects for the residential property market remain positive, according to FNB's property strategist John Loos, who is confident that house prices, having already posted more than a 20% cumulative growth since the beginning of 2006, will record a doubling in their values in the second half of this decade.
This is far off the 212% increase recorded in the first half of the decade, but still substantial in world terms.
Loos, addressing estate agents at an FNB Home Loans recent legislation workshop in Durban, forecasts a steady annual increase in house prices for the remainder of the decade to reach its highest annualised level of around 20% by the end of the decade or early in 2011.
Building boom to continue
Business Report - South Africa
Interest rates are in an upward cycle and may move higher but property analysts are confident that demand for building is strong enough to maintain current levels of activity, an independent economic analyst told I-Net Bridge on Wednesday.
Levels of activity should increase once again in 2008 as the interest rate cycle peaks, the analyst added.
Data on Wednesday showed that the real, seasonally-adjusted value of building plans passed reached a new record of R4.29 billion in May, expressed in 2000 rands.
"The underlying trend for plans passed has been firmly upward since the start of 2007 and, provided that suppliers to the construction industry can meet the growing demand, this bodes well for the building industry for at least the next twelve months," the analyst said.
Housebuying quicker and greener
NewsWales - UK
Conwy Local Land Charges Unit has launched a new electronic on-line service that will connect solicitors, conveyancers, estate agents and HIPs providers straight to the unit.
This new facility will speed up the conveyancing process in the area, quickly producing and returning local authority searches.
Traditionally local authority searches were carried out by post. But, by developing electronic service delivery and introducing this on-line service, it means that requests for searches can made through the Council's website.
Developers await final decisions on inclusionary housing policy
Rode's Property News - South Africa
After months of waiting, South African developers will soon hear the final outcome on the national housing department's policy on inclusionary housing.
The proposed final draft of the government's policy on inclusionary housing is currently being negotiated between the housing department, commercial property association SAPOA (South African Property Owners Association) and other industry stakeholders, and its results are imminent.
Inclusionary housing refers to government ordinances that require a given share of new construction and development to be made available to low and lower-middle income groups. Taking the form of a mandatory or voluntary ordinance, many cities internationally subscribe to inclusionary housing policies and include countries throughout Europe, the UK, the USA, Canada, Australia, Malaysia and China.
Rode's Property News