| House prices to pick up heading towards 2010 - 19/07/2006 |
House prices are not about to enter a boom-bust scenario, but are rather going to stabilise at their current high levels, Standard Bank economist Elna Moolman said at the release of the bank’s quarterly property report. According to a report on the iafrica.com site, "in the medium to long term, house price growth should again be in line with (consumers’) nominal income growth of about 10%, but in the short term there will be limited, if any, growth in house prices. This tallies with FNB economist John Loos’s forecast that house prices would pick up heading towards the 2010 World Cup, though 2007 might be a soft year for residential property."
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Full report on the iafrica.com site
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| House price growth slump seen as temporary - 09/07/2006 |
Though the possibility of further interest rate rises has spooked various sectors of the property market, the weakness in residential house price growth is only likely to last another 18 months - to the end of 2007. The Sunday Times reports that "that’s according to John Loos, property strategist in the commercial banking division of FNB, who says if his forecasts come true, residential house price growth is likely to slump to 11.1% for 2006 and dip to just 8.4% in 2007. He predicted that, thereafter, growth in prices is likely to pick up - to 10.3% on average for 2008, 14.2% in 2009 and up to 18.2% in time for the World Cup in 2010."
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Full Sunday Times report
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| 2010 WC to boost property market - 17/04/2006 |
It may seem a big step from winning the World Cup bid to selling houses, but actually the property market is likely to benefit from this achievement in a number of ways. According to a report on the News24 site, "preparations for the event, starting now, will involve massive investments in the countrys sporting, transport and accommodation infrastructures, by both the government and the private sector."
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Full report on the News24 site
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| New stadium will increase property values - 03/04/2006 |
The proposed 65 000 seater stadium at the site of the Metropolitan Golf Course in Mouille Point has the potential to significantly increase international tourism, attracting further world class events more consistently to Cape Town, boosting the economy along with local house prices. According to a report on the News24 site, "Barak Geffen, Executive Director of Sothebys International Realty SA, feels that locals are unduly worried about the proposed development and should focus on the bigger macro-economic benefits of the project."
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Full report on the News24 site
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| Foreigners express concern over SAs land confusion - 29/03/2006 |
Foreign investors expressed concern about a lack of clarity on the foreign land ownership issue in SA at a recent international property exhibition in Cannes, France, commercial property association Sapoa said. Eprop reports that "TC Chetty, president of Sapoa, said SA could not see the 2010 Soccer World Cup as the be all and end all, and needed to think beyond this event."
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Full Eprop report
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