Barometer - Residential demand conditions
FNB - South Africa
Early signs may be emerging of improving housing demand conditions over and above strong summer seasonal factors.
Key leading economic indicators are pointing in the direction of a near term economic growth strengthening. This would likely strengthen employment, and in turn Household Sector Disposable Income growth. In addition, interest rates have not risen further since March 2016, while real house prices (house prices adjusted for CPI inflation) have been in decline of late. This has translated into improving housing affordability on a national average basis. Improved housing affordability combined with improving economic growth should be a catalyst for some strengthening in the demand for housing.
One of our key residential indicators suggests that housing demand may be strengthening. However, 2 others haven’t yet pointed to strengthening, so it is far from a “clear cut” strengthening picture yet, but strengthening, we believe, nevertheless.
Residential demand conditions
Changes to laws make rental contracts more complex
IolProperty - South Africa
Until a few years ago, lease agreements included standard annual increases and a seven-day's notice with material breach to terminate.
But this is no longer the case, says Lew Geffen, chairman of Lew Geffen Sotheby?s International Realty.
Contracts have become more complex with amendments to the Rental Housing, Consumer Protection and National Credit acts that now affect almost every aspect of rentals.
Landlords and tenants must understand certain basic facts, says Shaun Groves, Gauteng rental manager for Lew Geffen Sotheby?s International Realty. These include:
IolProperty
Concerns mount over e-conveyancing
Business News - Australia
The move to an electronic conveyancing platform for house and land transactions in Western Australia is being rushed, according to a peak lobby group.
Property buyers and sellers have been warned they face a conveyancing cost increase of up to 20 percent from December 1 this year, due to a state government mandated electronic platform for all house and land transactions.
Late last year, the Western Australian Registrar of Titles orderd the use of all land registry documents to be lodged electronically through a software system operated by Property Exchange Australia (PEXA).
Business News
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