Property News - May 2007
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.
This month, Jacques du Toit, Senior Economist at ABSA Bank, makes a few solid comments in his report on the state of the South African residential property market. (Please see article 3 in this regard)
Thanks and Enjoy
Portfolio Property Investments News Team
Unitholders obstructed from selling their units by monetary disputes with their bodies corporate should not be cowed into protest paying. Payment provision is an equally valid and otherwise better route. Bodies corporate cannot refuse a clearance certificate just because the unitholder takes the latter course.
The strong growth in prime central London continues, with prices increasing by 3.1% in the month of March. Annual price growth has now reached an astonishing 32% after 27 consecutive months of price rises. Knight Frank Prime Central London Index March 2007 results
According to the latest Absa House Price Index, nominal year-on-year growth in house prices remained firm at 15,5% on average in the first quarter of 2007. This development was supported by continued strong growth in transaction volumes during the period January to March this year.
When buying of selling a property, theres no doubt that you will need professional assistance to conclude a successful deal. Some people are confident enough to sell their own property, but the vast majority of homeowners still require the services of an estate agent to either sell their property or help them find a suitable home.