Property News - February 2010
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.
Please see below, our featured articles and properties of the month and feel free to contact us with regards to your property requirements. We cover both sales and lettings and specialise in residential, commercial and industrial property.
The price of prime country properties in now increasing across the country as the recovery that started in London during spring 2009 continues to spread further into the regions.
The year end results for Alliance Group, the country’s leading auction house have reflected an extremely tough twelve months, says Chief Executive Officer, Rael Levitt.
The Gautrain, currently under construction will not only change the commuting habits of thousands of Gauteng residents, but also where they choose to live. It is anticipated that around the Tswhane and Midrand areas, new interest could be injected into some of the under-capitalised suburbs.
House prices declined marginally in nominal terms in 2009 compared with 2008, according to the latest calculations by Absa. Prices declined in the first half of 2009, but started to rise on a month-on-month basis since May.
Certainly the negative data is leveling off; the property market is no longer in freefall; banks seem to be cautiously lending again and interest rates are starting to have a positive effect. But it is unclear whether the bottom for various asset classes has quite been reached.