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28 June 2012

GhostConvey 2012 V14.1 is now available for download!
GhostConvey 2012 V14.1 boasts the following new and improved functionality and features such as:

  • SARS integration
  • Absa Bond Centre integration
  • Mandatory changes to Standard Bank Authority to Pay
  • No Movement Report now on all matter types
  • FNB Housing Finance - Electronic cancellation requests
  • FNB Home Loans - Capturing of passport numbers for foreigners and updating the bonds documents accordingly
  • New delay reasons for Foreclosures
  • Bank document changes for FNB HL, FNB Edgars, FNB HF and Standard bank.

GhostConvey 2012 V14.1

SA building cycle sends positive signal
FNB - South Africa
The building trades may still have been disappointed by 2Q2012 realities, with activity levels rising but perhaps not close to hoped for, as reflected in the FNB/BER building confidence survey reported ten days ago, but this doesn’t make the trade prospect entirely hopeless.

The past five years have been tough, with the building trades entering a sharp decline from 2007 and then finding themselves in a protected recessionary trough.

Confidence of building contractors remain at low levels, with building plans passed, buildings completed and transfer duty paid also remaining near cyclical lows.

But most of these indicators are off the recession floor by now. Last week the SARB added its voice by reporting on fixed investment trends in the 1Q2012.

The message was a positive one. After 19 consecutive quarters of activity decline, dating from early 2007, the building trades registered their second consecutive quarter of rising activity early this year, making 3Q2011 the undisputed low point of the most recent building cycle decline, according to Prof Johan Snyman, Director of Medium-term Forecasting Associates.
fnb.co.za

Property ownership in SA remains high
iol.co.za - South Africa
More than 62 percent of South Africans own their own home, which is one of the highest home ownership rates in the world, according to Mike Schussler, the chief economist at Economists.co.za.

The home ownership level in South Africa used to be at about 70 percent but at current levels it was still much higher than in Germany, the UK and the US, Schussler told a PayProp and TPN credit bureau conference last week.

But Schussler stressed that many homes owned by South African households were not really private sector assets and might just be "matchbox" houses. About 26 percent of all South African households owned a second property, which was also a very high number, although many were in rural areas and not rentable.

Houses were therefore one of the major assets held by South African households. Almost 10 percent of households relied on renting out a property for their main source of income and another 5 percent received rental from a property as part of their income.
iolproperty

High Court upholds the views of Rates Watch
Rates Watch - South Africa
In a judgement handed down by Judge M Tsoka, the opinion held by Rates Watch that a rates policy of a municipality cannot override an act of parliament was upheld. In the matter of The City of Johannesburg Metropolitan Municipality -Applicant And The Chairman of the Valuation Appeal Board - Johannesburg - First Respondent And Connaught Properties (Pty) Ltd - Second Respondent.

The appeal by the City of Joburg to have the decision of their own Valuation Appeal Board rescinded was dismissed by the High Court with costs against the City of Joburg.

Background
An appeal was lodged on behalf of Connaught Properties by Rates Watch against the incorrect category entry made by the Municipal Valuer of Johannesburg, relating to certain properties owned by Connaught. The appeal was handled by the Ceo of Rates Watch, Clive Massel who presented a very thorough and well researched case in front of the Valuation Appeal Board. The appeal revolved around the incorrect entry by the Municipal Valuer of a property used for multipurpose.
rateswatch.co.za

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