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17 June 2010

April building statistics
FNB - South Africa
OUTLOOK
We are of the belief that the residential building sector is set for stabilisation late in 2010, as
suggested by a diminishing rate of decline in plans passed. However, this is not expected to be fast enough to prevent further significant decline in completions for 2010 as a whole, projected at -23.4%, with positive growth off a low base only returning in 2011. This expected improvement in 2011 would be the lagged response to the moderate recovery that we have seen over the past year in overall residential demand, which in turn was largely the result of the 2009 interest rate cuts.

We believe that the commercial property sector has a little longer to wait for a return to positive growth territory, with the most recent available commercial property data not yet showing any decline in vacancy rates in this sector.
FNB April Building Stats

Conveyancers 'vulnerable' as mortgage fraud continues to rise
Law Gazette - UK
Conveyancing solicitors are 'uniquely vulnerable' to exploitation by criminals laundering money, a leading anti-money laundering solicitor has warned. The warning came as the latest figures from the Solicitors Regulation Authority showed that cases of mortgage fraud continue to rise.

Peter Rodd, a member of the Law Society's money laundering task force, said much of the £15bn of criminal funds laundered in the UK every year is filtered through property transactions.
Law Gazette

Your home - buy or rent
RealEstateWeb - South Africa
Warren Ingram examines research which shows that it might be best to rent for a period then buy.
JOHANNESBURG - One of the eternal debates in the personal finance arena is whether you should buy your home or rent one. The intuitive response to this question is almost always the same - buy the home! However, the issue is not as simple as it seems. It often makes sense to rent a home and not buy. The research used for this article shows that it might be best to rent for a period then buy. Obviously the decision to buy a home may be driven by lifestyle factors but you need to be aware of all the facts before making the "obvious" decision.
The numbers favour renting ... in the beginning
Real Estate Web

International visitors take time out to view properties
Pam Golding - South Africa
With South Africans wholeheartedly in the grip of World Cup Soccer fever, some of the international visitors to our shores are taking time out to view some of the prime-located residential properties on offer and already Pam Golding Properties (PGP) reports a number of enquiries mainly in the coastal areas.

Ling Dobson, PGP's area principal in Knysna says there's been a surge in attendance at show days over the past two weekends. "We have had enquiries from French and Italian visitors who are here for the World Cup, who are mainly interested in properties with sea views in the R3-R5 million price range, for use as leisure homes when visiting South Africa on holiday. We are also in contact with an Italian who is travelling to Knysna in two weeks' time to view properties with a view to purchase. Even just prior to the World Cup we sold a property in Knysna to French buyers from Brenton-on-Sea.
Pam Golding

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