Property News - October 2006
Welcome to the first edition of the Portfolio Property Investments newsletter. We hope that over time you will find our articles useful, informative and full of content that you as either a first time buyer or seasoned property investor will look forward to reading on a monthly basis.
We also invite you to have a look at our ever developing website www.portfolio-property.com for your property investment needs. Portfolio Property Investments also encourages its users and visitors to make use of the services offered on our site as well as to give feedback that we could use to further improve the website. The Monthly newsletter will also communicate all new products, services and functionality that we introduce to our website as well the option for you to forward any relevant articles to your friends, family or colleagues.
Portfolio Property Investments News Team
Applying for a home loan is the biggest step in anyones life. The decision itself is a truly life changing experience. Buying a car is not a true asset as it depreciates over time. A house on the other hand is a much better definition of what a true asset really is.
We give you some advice on how to keep a clean slate by maintaining a healthy credit record. With credit application forms spamming your post box and credit facilities popping up faster than the complex development across the road, the time for spending has never been better. Unfortunately, the risk of developing a bad credit record is just as (if not more) likely.
So youve just moved in and settled down in your favourite couch ready to plan a little house-warming party. Sounds great, what can we bring? But before you start drafting your guest list, priming your sound system and allocating parking areas for your guests, its crucial - whether youre a tenant or owner - to check your complex conduct rules before transforming your peaceful living space into a war bunker.
According to the latest Absa House Price Index, nominal year-on-year growth of 13,6% was recorded in June 2006 compared with a growth rate of 14,3% in May (also see section below on changes to the Absa House Price Index). This was the lowest year-on-year growth since January 2002 when it was also 13,6% and brought the average price of a house in the middle segment of the market (see explanatory notes) to about R798 000 in June. The average nominal year-on-year growth in house prices came to 15,3% in the first six months of 2006.
The province of KwaZulu Natal is booming, as the property development phenomenon surges on. Albeit somewhat of a slow starter, KZN is now playing catch up with the rest of the country as vast tracks of beautiful land are snatched up by developers and investors alike.