Property News - April 2009

Welcome to our property investment newsletter, the aim of which is to keep you up to date and informed as to the most recent property trends.

With the South African Reserve Bank having now slashed the prime lending rate by a further 100 basis points, down to 13%, we should start to see a recovery of the South African property market towards the middle of 2009. Further cuts are to be expected when the Monetary Policy Committee meet next month.

Articles

SA Building statistics - Housing sector to remain under pressure in 2009
Residential building statistics released by Statistics South Africa for January 2009 show a continuation of the slowdown in building plans approved for new housing, while the construction side has improved somewhat in the second half of last year, but showed some weakness again early this year. Read More...
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SA Property Auctions - How large are the discounts at distressed auctions?

The property bubble has burst globally and the world wide economy has shrunk. Property values in almost every country have dropped and although no-one knows how much further they will fall, there is no doubt that the market is starting to present unprecedented value to buyers. The credit crunch has slowed the ‘new home loans’ market and there is now institutional aversion to risk.

Rents in Prime Central London have fallen dramatically over the past six months, with falls of 9.6% and 7.3% recorded for the final quarter of 2008 and the first quarter of this year.

The crisis in the housebuilding industry could result in significant changes to the way new homes are financed, built and planned in Britain, according to a major new report by Knight Frank.

The latest developments and future prospects with regard to inflation, as well as global and domestic economic conditions are seen as the main reasons for the further lowering of interest rates.

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• May 2010
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• December 2009
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• October 2009
• September 2009
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• July 2009
• June 2009
• May 2009
• April 2009
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• February 2009
• January 2009
• December 2008
• November 2008
• October 2008
• September 2008
• August 2008
• July 2008
• June 2008
• May 2008
• April 2008
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• February 2008
• January 2008
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