Property 24/10 - 2

Property market recovery accelerates
The recovery in the residential property market accelerated in February. This is according to home loan originator ooba's oobarometer price index, which recorded a year-on-year (y/y) nominal price increase of 11,4% from R803,642 to R895,031.

February was also the ninth consecutive month of positive house price growth, which signifies that the recovery in property prices continues to gather momentum.

How 2010 budget affects property
Against a backdrop of a major slowdown in household consumption expenditure, declining imports and exports and falling unemployment, which has led to a significant reduction in tax revenue, role players in the property industry, still operating in tough economic conditions, have received little further direct tax relief following the 2010 Budget.

Land reform: Govt doing new research
Gugile Nkwinti, the Minister for Rural Development and Land Reform, said his department is currently looking at ways to speed up land reform.

Market crash cut agents by a third
In the 2008 and 2009 market collapse South Africa lost some 60,000 of the 95,000 agents that formerly served the property sector.

"We are now down to approximately one-third of our original number," said Lanice Steward, MD of Anne Porter Knight Frank (APKF), the Cape Peninsula estate agency.

She said the recent budget should, once again, have made the South African public aware of the size of the property sector's contribution to the revenue collected by SARS.

Match your area to your lifestyle
Location is important when buying a home, but picking the "right" house in an impractical and wrong area can cause great discomfort and stress.

Sect. title: AGMs for dummies
In this article the management rules prescribed by the regulations to the Sectional Titles Act 95 of 1986 which govern sectional title Annual General Meetings (AGMs) is set out.

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