4 January 2007
Johannesburg’s city council has confirmed that residents could see significant property rates increases next year when the new rates scale – linked to property values – is implemented. The increases, which have not yet been quantified, were approved by the council last month and come in the wake of hotly contested changes to the national rating system.
Technorati Tags: gauteng, jhb, johannesburg, property rates, rates and taxes, south africa
11 January 2007
Property owners may have to wait until next year for the residential market to pick up again and deliver stronger growth, the latest Absa house price index released yesterday suggests.
The declining price growth trend, which has been the main feature of the market for the past year, will be further entrenched this year on the back of a tighter economy.
Technorati Tags: property price trends, property prices, property prices in 2007
The residential property sector has been affected by rising interest rates, but not nearly as much as expected.
The emerging black middle class, together with a strong economy, are some factors that play a role in the ongoing demand for property, even when interest rates are climbing the ladder everyday.
Technorati Tags: house price growth, interest rates, property demand
The number of people who cannot afford their monthly bond repayment is increasing in South Africa and causes concern in the industry.
The US home loan market experienced a crisis after 22 lenders in the US sub prime market has been declared bankrupt in the past two months. Household debt had risen sharply in the past few years but fortunately in South Africa; banks are more conservative than those in the US. Banks are not locked into a rate at which the loans become unprofitable.
Technorati Tags: home loans, interest rates, National Credit Act
Construction and engineering sectors are hitting an ultimate high due to preparation for the 2010 Fifa World Cup and the building of the Gautrain high-speed rail link.
An analyst at Old Mutual Investment Group, Feroz Basa, agrees that spending was likely to continue for a while as demand outstripped supply in these industries. Other sectors such as retail, telecommunications, media and transport will also benefit indirectly.
Technorati Tags: AltX, construction, infrastructure sector, JSE
When buying property in the currently soaring South African property market, a pre-approval certificate can be just the thing you need to close the deal. It removes the uncertainty, knowing up front how much you qualify for.
When you are searching for your ideal property, having this certificate will also allow you to negotiate a better price. It shows the seller that you are serious, smart and prepared.
Technorati Tags: pre-approval certificate, pre-qualification certificate
14 April 2005
First National Bank (FNB) today announced the reduction of its prime lending rate by 0.5% from 11.0% to 10.5%. The new rate will take effect on Monday 18 April 2005 on all prime rate linked products.
Interest rates for new and existing FNB HomeLoans will also be reduced by 0.5% on Monday 18 April.
Technorati Tags: fnb lending rate, home loans, homeloans
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