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Stand by for the average home price to hit R1m
Business Day - South Africa
South Africans are bracing themselves for the average home to cost R1m next year as property prices keep rising, says MortgageSA, a bond originator.

Tracy French, provincial manager at MortgageSA, says that judging from the recent trends in house price data from the ABSA House Price Index, it is likely that the average price of a home in SA will top R1m next year.

Nominal house price growth of 15,5% year on year was recorded last month from a revised 15,7% this March, according to the latest ABSA House Price Index. This brings the average price of a house in the survey to R911 800 for last month.
Business Day

Some CT rates to rise by 46%
Fin24.co.za - South Africa
The City of Cape Town has completed its dummy billings run in preparation for the new rates and tariffs for the 2007/8 financial year - and says that, in the case of 11% of the 406 000 households, the total municipal account will in fact drop.

The council's mayoral committee member for finance, Ian Neilson, was reacting to an earlier statement by fellow mayoral committee member and Independent Democrats caucus leader Simon Grindrod, who said his party's caucus was meeting in urgent session following a new rates report issued by the council. His caucus was disturbed by certain reported high increases.

Credit where it's due
Business Day - South Africa
Next week is D-day for the new National Credit Act. And as the deadline approaches, it's becoming clear just how big an effect the new measures will have on SA's credit providers. This is an R800bn market and the new national credit regulator reports that more than 4200 credit providers have applied to register in terms of the new legislation.

These include banks, retailers and micro-lenders but also insurers who lend money to policyholders and employers who advance cash to employees - indeed, any firm that lends money to consumers on a significant scale.
Business Day

Most land claims almost finalised: Xingwana
The Citizen - South Africa
Ninety-three percent of land restitution claims had been settled by the end of the last financial year (2006/07), Agriculture and Land Affairs Minister Lulu Xingwana said on Friday.
The number of claims settled by the Commission on Land Restitution by the end of the 2006/07 financial year increased from 71,645 to 74,417 -- out of the total 79,696 claims lodged.

"We still have to settle an outstanding 5279 rural claims," she told MPs in the National Assembly during debate on her budget vote.

Strategies to speed up the settlement of outstanding rural claims included shortening the project cycle, delegations to commissioners for finalising claims, eliminating protracted negotiations through expropriation, "batching" claims with similar circumstances, consulting with traditional authorities and houses of traditional leaders, and working more closely with other state departments and municipalities.
The Citizen

SA Green Building Council announced by SAPOA
RodneyHayter.com - South Africa
The establishment of a Green Building Council for SA has been announced in a move intended to bring the South African commercial and industrial property industry in line with global environmental practice.

The new council was announced by South African Property Owners Association (SAPOA) CEO Neil Gopal at the body's recent 39th International Convention at Sun City.

The mission of a Green Building Council is to promote and encourage environmentally sustainable practices in the property industry through, as Gopal points out, market-driven solutions. Green Councils in Australia, New Zealand, the US and Canada also manage a certification system for new and existing buildings.

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