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26 November 2009

Anger over Law Society proposal to kill off solicitor referral fees
Mortgage Strategy - UK
The Law Society has sparked anger at its decision to lobby the govern-ment and the Legal Services Board to ban referral fees involving the legal profession.

If successful, the move could bring an end to the payment of fees for referring any legal work inclu-ding conveyancing, will writing and claims management cases.

Eddie Goldsmith, senior partner at Goldsmith Williams, says the decision could seriously affect mortgage brokers.

He says: "If referral fees are banned it would affect a lot of brokers who have arrangements with solicitors and claims firms."
Mortgage Strategy

Property24 wins
Jump.co.za- South Africa
Property24 has won the Jump Shopping 2009 South African E-Commerce 'Best Property Website' Award for the second year running.

The 2009 South African E-Commerce Awards is run by Jump.co.za, South Africa's leading online shopping search engine, and entry for the awards is free. Jump.co.za identified the opportunity for such an awards event in 2006, and took the opportunity to start this as part of their goal to uplift E-Commerce in South Africa. The awards are now in its third year.

These awards have been designed to recognize and reward those companies and organisations that have demonstrated excellence through the use of the Internet, with specific emphasis on E-Commerce.
Jump

"I'm no longer a property bear" - Levitt
RealEstateWeb - South Africa
South Africa's property market will see big bounce in 2010, predicts SA's biggest property auction house

NEWS ABOUT THE END OF THE COUNTRY'S RECESSION WILL CAUSE A LARGE BOUNCE IN PROPERTY PRICES
Auction floors across the country have revealed that since the beginning of the third quarter of 2009, asset prices have risen and frozen commercial and residential property markets are now quickly thawing. So says Alliance Group Chief Executive, Rael Levitt. "Yesterday's news that South Africa's economy has moved out of recession and has recorded positive growth for the third quarter of 2009, has been experienced firsthand by us and there has been a sharp downturn in distressed residential sales since June," explains Levitt.

The seasonally adjusted real gross domestic product (GDP), which shows an annualised rate of 0.9% growth compared with decreases of 7.4% and 2.8% in the first and second quarters of the year, reveals that the property market will slowly claw its way back to good health. As the host nation of the FIFA Soccer World Cup, we are already experiencing a bounce in optimism and thus property values," says Levitt.
RealEstateWeb

Rate cut unlikely, despite CPI
Fin24.com - South Africa
Johannesburg - Although consumer price inflation (CPI) fell back into the South African Reserve Bank's target range of three to six percent in October, it is unlikely to persuade the monetary policy committee to lower interest rates.

According to Statistics SA, CPI eased slightly to 5.9% year-on-year in October from 6.1 percent year-on-year in September.
CPI has not fallen within SARB's target range since April 2007.
Fin24.com

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