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23 May 2013

WinDeed introduces a Sequestration Search
WinDeed - South Africa
Find out if there is a sequestration on a person or company before lodging
The Deeds Office Sequestration search advises of a sequestration document registered at the Deeds Office. Many conveyancers find it an invaluable step in the property registration process to check the Deeds Office for a sequestration just before lodging to prevent a delay or rejection.

Search results include:
General information - Confirmation of the Deeds Office registry, search date and the reference.

Person information - The name, ID or registration number and marital status (when available).

Contracts - Any relevant sequestration document number.

An optional linked search is available to request a copy of the Deeds Office document.
WinDeed Deeds Office Sequestration

March Leading Busines Cycle Indicator
FNB - South Africa
Potential Implications

The direction in the SARB Leading Indicator can have potential implications for both consumer, and property and mortgage,demand in the near term, as these tend to track the Leading Indicator fairly well. The flattening out in growth in the Leading Indicator suggests a possible slowing in growth in value of total new mortgage loans paid out (residential and commercial), after these had reached a healthy year-on-year growth rate of 10.3% as at the final quarter of 2012.

Already, although still strong, a slowing in the growth rate in the value of property transactions may be happening if transfer duty data is to be believed, with March year-on-year growth in the value of transfer duty measuring 14.3%, well off the 39.4% high of October 2012. One must however bear in mind that these growth rates are somewhat volatile from month to month.

The flattening of the Leading Indicator after a short-lived rise also suggests not much improvement in real economic growth in the near term. This would appear supportive of mediocre economic growth in the near term, and our forecast real economic growth rate is indeed a moderate 2.4% for 2013 as a whole. Under these circumstances, real household disposable income growth would be expected to slow further from its above-GDP growth 3.5% as at the final quarter of 2012.
Property Barometer Leading Indicator March 2013

SA properties getting smaller
BetterBond - South Africa
The latest available building statistics from Stats SA show that more new homes are being built - but that they are getting smaller.

"On an annualised basis, the total value of new residential buildings completed rose 25% in January and February, while the value of building plans passed for new homes rose 20,5%," notes Rudi Botha, CEO of BetterBond, SA's biggest mortgage originator.

"In the same period, however, the square metreage of new small homes (less than 80sqm) completed rose 20,2% compared with the first two months of last year, and that of flats and townhouses completed rose 38,7%, while that of homes bigger than 80sqm rose only 1,1%.

"Meanwhile the square metreage of plans passed for new houses of 80sqm or more rose 2,4, and that for flats and townhouses a whopping 50,2%, clearly indicating that this is where developers believe future demand will be."
IolProperty

Traditional checks on estate agents no longer valid
Rawson - South Africa
The number of estate agents in South Africa has in the short space of three years dropped from over 90,000 to just above 30,000. This, says Bill Rawson, Chairman of the Rawson Property Group, could just possibly result in this relatively exclusive, relatively small, highly qualified group being very much in control and therefore “too laid back”. This, in turn, he says, could lead their being unwilling to give the service that clients have, over the years, come to expect from an estate agent.

Recently, he says, he was approached by a young couple with ample means who were looking for a home in a specific area and in a specific price range. They had contacted no less than eight local estate agents (none from the Rawson Property Group, which is not working in that area) but they had been disappointed with all of them.

“It became clear to this couple,” says Rawson, “that none of these estate agents was going to come back to them as regularly as they had expected nor would they provide the sort of information and feedback that would have been expected of an estate agent four or five years ago. They therefore approached me to ask, ‘How does one go about finding the right agent?’”
Rawson

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