FILTERS:

Web Bytes 361

24 November 2011

FNB Property Barometer - September SARB Leading Indicator
FNB - South Africa
The SARB Leading Business Cycle Indicator continues to point to a weaker economic and mortgage market period ahead, although its month-on-month decline was less than in August.

The release of the September SARB Leading Business Cycle Indicator provided little in the way of surprises, showing further month-on-month decline, which is not out of line with the direction of certain key global leading business cycle indicators.
 
The Leading Indicator correlates well to trends in the South African mortgage market, and more specifically to trends in the value of new mortgage loans granted.
 
On a month-on-month basis, the Leading Indicator fell by -0.3% in September, which represents less of a decline than the -2.2% of August, but is the 3rd consecutive month of month-on-month decline.
FNB Property Barometer_September SARB Leading Indicator

Property deals to avoid
Iol.co.za - South Africa
While some property deals may look good at the outset, there are some scenarios that buyers and sellers should avoid to protect themselves from a sale that could cost them dearly in the long run, says Martin Potgieter, of RE/MAX Jacaranda.

Potgieter, who is also a qualified Conveyancer, says: "There are circumstances that some sellers find themselves in that could make them desperate to sell their home."

He highlights the case of one seller who had been offered a new position in Cape Town to start in the New Year. The children had to start at their new school, so the move had to be a speedy one. For this seller, renting out his property could always be an option, but stories of bad tenants had left him wary of taking this route, leaving no other choice but to sell, and sell quickly. "Desperation, be it financial or otherwise, and property sales make strange bedfellows," says Potgieter.
Iol.co.za

FNB Property Barometer - 3rd Quarter Residential Maintenance and Upgrades
FNB - South Africa
Estate agents as well as hardware sales point to households addressing home maintenance backlogs on a larger scale, but “value adding” upgrades to homes remain weak.

In short, therefore, estate agents surveyed estimate that there has been an overall improvement in the level of home maintenance since 2009. However, they simultaneously indicate that property upgrades remain very
weak. The 3rd quarter 2011 StatsSA building stats continue to support this view of weak upgrading activity, with square metreage of additions and alterations recorded as completed still declining steadily.
 
This all ties in with indications that the household sector remains under significant financial pressure. No time for luxuries, therefore, and households are mostly focused on catching up on the “basics”, which include addressing
maintenance backlogs on homes.

Government ‘lacks courage’ on land reform
BusinessDay - South Africa
Director of the Centre for African Renaissance Studies, Prof Shadrack Gutto says SA’s political leadership has been afraid to deal effectively and boldly with land policy for fear of offending potential foreign investors

SA’s political leadership has been afraid to deal effectively and boldly with land policy for fear of offending potential foreign investors, director of the Centre for African Renaissance Studies, Prof Shadrack Gutto, said yesterday.

Speaking at the annual conference of the Black Management Forum (BMF), Prof Gutto bemoaned the lack of "courage" displayed by the green paper on land reform in facing up to the unconstitutional practices by traditional leaders that denied land rights and security of tenure to some citizens.
Business Day

Submit your comment:
 
Name
EMail
Comments
Security Picture (click to change)
Word shown in picture: