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MASTERPLANNEEDED FORHOUSING
SaveSA fromhousing cliff
J
ust as the US needs all hands on
deck to stop it sailing over the fiscal
cliff, soSAneedsamultifacetedeffort
now to solve a housing crisis that threat-
ens to overwhelm the country.
So says Rudi Botha, CEO of South Africas
biggest mortgage originator BetterBond,
who notes that of the 14,5 million households
recorded in the latest census, at least half live
in homes they dont own some in accommo-
dation provided by their employers, some in
rented homes and back-yard shacks and
shockingly,more than 1,3million in squatter
camps.
No-one has actually quantified howmany
millions of people this involves, but clearly
it is a recipe for serious political and econom-
ic instability as evidencedby the increasing
number of service delivery protests and
strikes that have already so badly affected
SAs productivity levels, credit ratings and
economic output this year.
Allover theworld,hesays, ithasbeenprov-
en that home ownership has a stabilizing in-
fluence because it pulls people out of the pov-
erty trap and provides the basis for individu-
al financial security and wealth creation. It
is at the heart of a healthy community and
not surprisingly, research has shown that it
is also a major influence in lowering crime
rates, substance abuse rates and teenage
pregnancy rates.
But the reverse is also truewhen the own-
ership of even a modest home becomes in-
creasingly beyond the reach of ordinary,
hard-working families and totally out of the
question for the poor. People become hope-
less and their protests at the unfairness of
theirsituationareapt tobecomeincreasingly
violet, as we are seeing all too clearly in SA.
According to Botha, the problem has be-
come toobignowtobe solvedbyanyoneplay-
er in the housing scenario acting alone.
What we need is for government, the banks
and the private sector to urgently agree and
getmoving on a plan to get all
South Africans properly
housed.
The banks, for example,
are being hamstrung by the
imminent implementation of
the Basel III banking regula-
tions,whichprovide for them
to hold much bigger reserves
on long-term lending like
home loans and will almost
certainly result in them pull-
ing back on home loans. So
perhaps it is time for Treas-
uryor theReserveBank to re-
assess those regulations now
and evaluate whether they
are actually appropriate for
SA.
On the other hand, he says,
household debt levels are un-
doubtedly too high and get-
ting higher because of the
ease with which consumers
can get unsecured short-term
and personal loans at very
high interest rates. The
banks need to reassess their
role in helping to create the
situation in which so many
people who actually earn
enough to buy their own
homecant qualify for ahome
loan because they have too
much debt already.
Meanwhile one might well ask what has
happened to the gap housing subsidy plan
announced with such fanfare earlier this
year? This supposedly affects a massive 20%
of South Africas work force.
Similarly, where is the R1 billion mort-
gage default insurance plan that has been on
the cards for several years now? Will there
be a new tax incentive for developers of af-
fordable housing in the next budget, and will
the urban development zone tax incentive be
extended?
Bigbusiness andother employers could get
more involved, Botha says, byhelping to edu-
cate employees about the dangers of short-
term lending and the advantages of saving to-
wards the goal of home ownership.
And in the provision of housing for those
who are poor and unemployed, government
should be actively seeking out and motivat-
ing themost capable developers and builders
to do this at scale, on the understanding that
such activity would also provide much need-
ed employment and skills development.
Clearly there is a mountain to climb, he
says, and consumers themselves need to play
a role in achieving their home ownership as-
pirations,whether theyprovide sweat equity
in the construction process, perhaps, or have
earnings from which they can save for a de-
posit. But all their efforts will be in vain un-
less everyone works together to develop a
master plan and soon.
Housing is desperately needed as a stabilising influence in South African society. PHOTO: SUPPLIED
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3Districtmail
10 Januarie, 2013
BOLAND
SOLD
HELDERBERG
RawsonGroupset todouble their
portfolio inHelderberg in2013
T
he property management service is
uniqueintheRawsonPropertyGroup,
with Rawson Properties Somerset
West in the Western Cape being the only
residential franchise in the group to have
a property management division.
Johann van der Merwe, Rawson Properties
franchisee for SomersetWest, Strand andGor-
dons Bay, who initiated the new division that
now manages six sectional title schemes with
about 1 000 units, says it has always been one
of his goals to offer a complete one-stopproper-
ty service, because such a service would com-
plementhis franchises sales and rentingoper-
ations.
TheRawsonPropertiesSomersetWestprop-
ertymanagement team is headed byChantelle
Landers and Lilian Waldeck, who together
have 13 years of experience in this field.
Unlike most managing agents, says van
der Merwe, we are in the strong position of
being able to offer a two-prongedmodel.When
taking on a new property account we divide
the duties between the maintenance and the
management of the scheme and finance and
levy collection.
The former falls underLilian and the latter
under Chantelle.
Manysectional title schemesandhomeown-
erassociations,saysVanderMerwe,havetrus-
tees who are inexperienced in property mat-
ters, although often very competent in other
fields. As a result, he says, over a quarter of
South Africas sectional title schemes today
are allowing their members levy payments to
fall behind, sometimes with drastic conse-
quences for theupkeep, theprovisionofservic-
es and ultimately the value of the units in the
scheme.
When a scheme does run into financial diffi-
culties, saysVanderMerwe, it takes real effort
and a great deal of skill to put it right.
The rectification process can very often in-
volve the raising of a special levy, but once a
scheme has been pulled up it should not need
special levies unless someunforeseen disaster
occurs or unless a further upgrade is thought
to be essential.
Rawson Properties expect to take on at least
two more managing agents in the coming
monthsand todouble thenumberofunits they
are handling by the end of the year.
Then, Van der Merwe adds, as part of their
plan to offer a one-stop service, they will also
establishacommercialpropertymanagement,
selling and renting service.
RawsonCommercialhasbeenoneof the fast-
est growing sectors in the Rawson Property
Group over the last year and now has 21 fran-
chises.
For further information contact Johannvan
der Merwe on 021 851 0172 or email jo-
-
6Districtmail
10 Januarie, 2013
BOLAND
SOLD
HELDERBERG
for sale
luxury beachfront
apartments
2 bedroom
2 bathroom
apartments
from r 1.295.000 to 1.895.000
vat incl. no transferduty appl.
penthouses
from r 3.200.000 to 4.750.000
vat incl. no transferduty appl.
new development
sales office: 97 Beachroad, 7140 Strand
(open from 10.30 until 16.00)
phone office hours: 079-820 56 46
outside office hours: 076-043 46 40
of 082-255 95 55
24 5
www.97onstrand.com
-
8Districtmail
10 Januarie, 2013
BOLAND
SOLD
HELDERBERG
What to expect
from2013market
NevilleMcIntyre, chairmanofAidas parent
company JigsawHoldings, says the expecta-
tion all over the world, and not just in SA,
is thatascarcityofcapitalwillprevail in2013
and that there will thus be no increase in
mortgage lending.
The demand for housing, on the other
hand, is set to increase dramatically, and be-
cause of that we foresee that there will be
a slight increase in the number of property
transactionsand in thenumberofnewdevel-
opments coming to the market.
There will also, of course, be strong de-
mand for rental properties, which will be
good for buy-to-let investors and prompt an
increase in investment purchases.
He says large numbers of distressed
properties still being brought to market by
thebanksandsoldatbelowmarketvaluewill
suppress home prices in 2013 but at the
same time these bargain properties will
sustain activity and awareness and make
home ownership more accessible for quite
a number of people.
McIntyrealsonotes thata lackof skillsand
capacity in government and planning de-
partments as well as in some Deeds Office
branches remainseriousconcerns for there-
al estate industry.
It causes major delays in developments,
zoning approvals and transfers, and that has
financial implications for everyone in the
property sale chain.
JOU GROOTSTE EN BESTE EIENDOMSGIDS IN DIE BOLAND
021 870 4600 021 887 2840 021 841 4282
DistrictMail
HELDERBERG
Strand Gordons Bay Somerset West Stellenbosch Grabouw Elgin| | | | |
Kry jou sleutel
tot die
eiendom.
perfekte
-
10
Eikestadnuus
10 Januarie, 2013
BOLAND
SOLD
STELLENBOSCH
2013: Theyearof transformation
A
drian Goslett, CEO of RE/MAX of
Southern Africa, looks at the prop-
erty sector moving forward in the
era of transformation during 2013.
Despite the prevailing challenging econom-
ic circumstances experienced in the property
market,2012hasbeenagoodyearforRE/MAX
of Southern Africa, says Adrian Goslett, CEO
of RE/MAX of Southern Africa. He points out
that during 2012 RE/MAX of Southern Africa
has seen a marked increase in the number of
property sales achieved per agent.
During the first half of this year RE/MAX
ofSouthernAfrica sawa12%increase in sales
when compared to the same period of 2011. In
addition,more than 25 new franchises opened
in the Southern African region - which in-
cludes South Africa, Namibia, Botswana,
Swaziland,Lesotho,Mozambique,Zimbabwe,
Zambia,Angola,MauritiusandtheSeychelles
- up to the end of October 2012. The brand is
continuing to grow its footprint that encom-
passes over 170 office locations and over 1800
experienced estate agents, he says.
Locally RE/MAX agents account for about
6% of total agent numbers and for approxi-
mately 15% of all sales transactions. The av-
erage number of years of real estate experi-
ence within the RE/MAX of Southern Africa
group is over 10 years, and our average agent
commissionearnings areup31%in2012, com-
pared to the 2010 figures, says Goslett.
He notes that much like last year, 2012 can
be called a success for RE/MAX of Southern
Africa and its agents and it is expected that
the company will continue to flout industry
norms in 2013.
Sowhich factorswill influence theproperty
market and thosewithin the industrymoving
forward into 2013 the most? Goslett looks at
a few elements that will influence the trading
environment that property professionals find
themselves in:
)Access to finance:Over thepast year the
randvalue of the gross debtors book formort-
gages has shown an increase as has the
number of applicants applying for bond fi-
nance. Goslett says that this is due to the fact
thatSouthAfricas financial institutionshave
marginally relaxed their lending criteria to
the point where close on 51% of all home loan
applications are approved. He points out that
high debt-to-income ratios and a poor savings
culture are the major reasons why many
South African homebuyers have struggled to
obtain finance.SouthAfricaonlyhasadomes-
tic savings rate of around 20% of GDP, com-
pared to other emerging markets like China
which has a domestic savings rate of around
50% of GDP.
High debt and poor savings reflect nega-
tively on affordability levels, which has held
back the market and slowed down recovery.
For this to change in 2013, South African con-
sumers will need to focus on clearing their
debt and starting a savings programme to en-
sure their ability to secure home loan finance
in the future, says Goslett.
He adds that due to the limited access to fi-
nance, therentalmarketwill continue togrow
rapidly, which will assist investors who have
a buy-to-let portfolio.
)Depositsrequired:While financial insti-
tutionswillcontinuetohaveagreaterappetite
for risk, 100% bonds will still be few and far
between in 2013. Statistics suggest that over
the last 12 months only four out of every 10
bonds granted are for 100% of the purchase
price.Thismeansthatsixoutevery10success-
ful applicants have had to pay deposits to se-
cure a property. The average deposit require-
ment for repeat buyers has risen to around
20% of the homes purchase price, in other
words, buyers are required to have a fifth of
the purchase price in cash. For first-time buy-
ers, who account for about 35% to 40% of the
home loans granted each month, the average
deposit required is around 12% of the pur-
chase price.
) Transformation in the industry:A few
years ago estate agent training and qualifica-
tion were at the forefront of the industry and
therewasastronger focuson theprofessional-
ism of the industry players withmany agents
achieving the necessaryNQF levels required.
Onceagain, 2013will see theproperty indus-
try transform, this time in the form of a
revamped Estate Agency Affairs Board
(EAAB). Goslett says that Tokyo Sexwale and
the Department of Human Settlements are
taking a proactive approach to resolving the
issueswithin the industryand theEAABwith
the focus on professionalism and transparen-
cy. One of the goals of the EAAB will be to
ensure that the property industry ismore rep-
resentative of all races and genders, with an
emphasis on attracting the youth into the in-
dustry. The number of estate agents in South
Africahasdropped from80000 in2008 toabout
half that figure or less as a result of the global
economic recession.
Goslettnotes thatrealestatebusinessesthat
promote and encourage transformation will
continue to thrive andgain support across the
South African market spectrum. RE/MAX of
Southern Africa has, for a number of years,
been highly rated as a BBBEE organisation.
)Technology:Withtheconstantevolution
of technological advancement, technology
will continue to play a vital role in the proper-
ty industry intermsofmarketingstrategyand
interaction between real estate professionals
and their clients. The trend of searching for
property on linewill continue to gainmomen-
tumandmore andmore buyerswill find their
dream home through on-line property search
portals.
) Fair market value: In 2013, property
pricing and the perceived value of property
will continue to be an important factor to the
success of a sale. Statistically, if a property is
priced correctly it will be sold within the first
fourweeksofbeingonthemarketandgeneral-
ly it will sell at the asking price. Although
sellers are the ones that set their asking price,
property pricing within a certain market is
largely determined bywhat a buyer is willing
to pay for that property, says Goslett.
According to ABSA, the first ten months of
2012 saw house prices marginally down by
around 0,6% year-on-year, while the FNB
house price index revealed a house price
growth rate of around 6,6% in August this
year. The indexs average price of homes
transacted was R865 900. Goslett says that al-
though house price growth has subsequently
improvedslightly,RE/MAXexpects that trad-
ingconditionsandthehousepricegrowthwill
remain relatively low during 2013 and follow
a similar path to what we have seen during
2012. With propertymarket activity and con-
stantly increasing, somuch so that certain ar-
eas are reporting stock shortages of certain
types of property, 2013 is bound to a year of
change, with transformation coming to the
fore of the property sector, he concludes.
ADRIAN GOSLETT
CEO of RE/MAX of Southern Africa
Intodayscompetitiveworldofrealestate, for-
ward-thinking companies are always looking
to reinvent innovativemethods ofmarketing
their products and attracting new business,
says Dr Andrew Golding, CE of the Pam
Golding Property group.
While its true that digital marketing has
changed the face of real estate forever, we ac-
knowledge the important role theprintmedia
continuestoplayinadvertisingproperties for
sale, and in attracting buyers and sellers. It
is certainly not a case of digital versus print
media we believe there is synergy between
thetwo,andthattheuseofinnovativetechnol-
ogy can further enhance our advertising in
print media. As a result, we have introduced
atechnologicalinnovationwhichwilladdval-
ue to the property experience for our clients,
called PGP Reality. This augmented reality
technologyallowsus todeposit concealeddig-
ital content on our print advertising, thereby
enabling readers access to additional, useful
information which will add further appeal to
theirvisualexperienceofourpropertyportfo-
lios. This can include a video of the property,
3Dmodels, linkstothepropertylistings,agent
details, share and tweet buttons and more,
says Dr Golding.
To view the enhanced visuals of an AR
markedpageor image,downloadthe freePGP
Reality application to yourmobile device via
either the Google Play Store for compatible
android devices, or via the Apple iStore for
an iPhone or iPad. Once youve downloaded
and opened the app, position the entire page
within the camera view on your device and
the enhanced content will be displayed via
your internet connection.
While other international brands such as
Reebok,VW,NationalGeographic andHilton
Hotels are already utilising augmented reali-
ty, in South Africa PGP has announced that
it is the first real estate company to introduce
this ground-breaking new technology.
Adds Dr Golding: This is a key marketing
tool to rapidly delivermore content to todays
fast moving and tech-savvy consumers. PGP
Reality will be used in our selected weekend
newspaper advertising, printed marketing
material and billboards. As the name indi-
cates, the new technology really brings prop-
erties to life,particularlyasvideosorvirtual
toursofhomescanbemade full screenbydou-
ble-tapping your screen.
PGP Reality will enhance print media advertising
PGP Reality, a marketing tool for Pam
Golding Properties
-
11
Eikestadnuus
10 Januarie, 2013
BOLAND
SOLD
STELLENBOSCH
GELEENTHEID VIR STUDENTE AKKOMODASIE
Kamers 6 Badkamers 2 Parkering 2 WEB 278653
Ideaal gele op die drumpel van kampus en US
groenroete op n erf van 1100m in De Weides.
[K] 021 886 7905 LEON 082 575 7356
STELLENBOSCH R5 700 000
UPMARKET APARTMENT
Bedrooms 2 Bathrooms 2 Parking 1 WEB 277028
North facing apartment in the centre of town, within
walking distance to whatever you need.
[O] 021 886 7905 LEON 082 575 7356
LISBE 084 666 0011
STELLENBOSCH R2 290 000
HOME FOR ALL REASONS
Bedrooms 5 Bathrooms 3 Garage 2 WEB 277009
A quintessential family home offering great living and
entertainment space yet grants every family member
privacy.
[O] 021 886 7905 SOPHIA 082 824 6798
STELLENBOSCH R5 475 000
MOST BEAUTIFUL VIEW
Bedrooms 4 Bathrooms 3 Garage 2 WEB 263025
A sixtys home with lots of character in the most
beautiful setting next to a natural park.
[O] 021 886 7905 SOPHIA 082 824 6798
STELLENBOSCH R4 400 000
SKAARS...
Kamers 2 Badkamers 2 M/Huis 1 WEB 279926
Ruim meenthuis in klein gewilde kompleks.
Uitstekende afwerking, 2 leefareas en klein privaat
tuin.
[K] 021 864 2948 MARISA 079 877 4177
WELLINGTON R1 080 000
SAFE AND SECURE TUSCAN HOME
Bedrooms 3 Bathrooms 3 Garage 2 WEB 278596
Spacious open plan living area and designer kitchen with
granite tops. Communal swimming pool.
[O] 021 864 2948 CARMEN 082 490 0994
WELLINGTON R1 230 000
SCALING DOWN
Bedrooms 2 Bathrooms 1 Garage 1 WEB 279580
Open plan living area with air-con. Small garden with
braai area. Garage has direct access into the house.
[O] 021 864 2948 LINDA 083 379 3769
WELLINGTON R 750 000
IN N ANDER KLAS
Kamers 4 Badkamers 4 M/Huis 2 WEB 280229
Droommooi huis met uitsigte wat net in boeke is! Die
beste van die beste. Maak n afspraak vir hierdie
onthaler se droom.
[K] 021 872 2223 LITA 083 498 1018
PAARL R5 600 000
TOP QUALITY
Bedrooms 3 Bathrooms 3 Garage 2 WEB 270567
Top finishes with attention to detail. Stunning views
over vineyards and Table Mountain. Exclusive living.
[O] 021 843 3368 GERHARD 076 590 7758
On ShOW Sun 13 Jan 14h00 - 17h00
SOMERSET WEST R2 950 000
OCCUPATION 2013!
Bedrooms 2 Bathrooms 1 Parking 1 WEB 278951
Very neat apartment on first floor of security complex
with braai area and splash pool. Just move in!
[O] 021 886 7905 DROEKS 082 685 9189
STELLENBOSCH R 795 000
SOLE MANDATEJOINT MANDATE
SOLE MANDATE
SOLE MANDATE
SOLE MANDATE
ON SHOW
In a market thats still
largely geared to home
buyers, its tough to get
them to come to show
days or home viewings,
and tougher still to hold
their interest.
So says Berry Everitt,
MDoftheChasEveritt In-
ternational property
group, who advises that
sellers should thus do
their utmost to avoid the
following instant turn-
offs thatwill often cause
buyers to move on to the
next property without a
backward glance:
)Dirtydishesandclut-
tered kitchen counters.
Counters crowded with
the blender, coffee-mak-
er, toaster, kettle and
slow-cooker may make it
appear that the kitchen lacks work and
storage space. And the remains of last
nights supper congealing on plates in the
sink are sure to put buyers off.
) Pets and their stuff. Nobody wants to
see a dirty cat litter box next to the dining
table or the dogs chew toys scattered all
over the living room, and buyers who are
allergic to dogs or cats will probably walk
straight back out again. Frankly, when
your home is for sale, there should be no
sign at all that a pet lives there.
) Dirty toilet or toilet seat. This is
enough to put buyers right off even if they
like the rest of your home and have begun
to visualize where they would put their
own furniture. Buyers really dont want
to be reminded that they will be taking
over a used bathroom, so everything in
this room including counters, mirrors,
bath and basins should be absolutely
spotless before you put it on show.
)Toys and baby supplies. For the most
part, buyerswill understand that keeping
your home tidy when you have children
especially a baby is difficult. But its
important nevertheless tomake an effort.
Round up toys into a storage chest or cup-
board, clean out any bins with used nap-
piesinthemanddont leaveanydirtybaby
bottles lyingaround.Buyers shouldnever
feel that the home isnt clean or sanitary.
Four biggest buyer turn-offs
-
12
Eikestadnuus
10 Januarie, 2013
BOLAND
SOLD
STELLENBOSCH
Shouldyoubuypropertywhichhasbeen
on themarket forayear?
A
t the height of South Africas
property boom, houses were
selling within weeks, if not
days, of being listedand itwasonly the
most problematical properties that re-
mained unsold month after month.
Thats according to Richard Gray, CEO
of Harcourts Real Estate, who says the
boom period of 2004 to 2008 embodied the
rule of thumb that, in an ideal market, a
property should take about eight weeks
to sell.
There were times during these years
that buyers were literally queuing for
properties, and many instances in which
properties soldwithinhours of first being
advertised, he says. However, on the
back of the financial downturn, the cur-
rent market is far from balanced, as evi-
denced by the findings of FNBs Estate
Agent Survey for the second quarter of
2012 that houses are spending an average
of almost 18 weeks on the market.
Further, he adds, there are properties
that, despite repeat on-line and newspa-
per advertising, have been on the market
for a year or more.
Clarifyinghisuseof thewordproblem-
atical, Gray says he is referring to three
specific problem areas, namely price, lo-
cation and the condition of the property.
Of these, themost critical and yet easi-
ly remedied is price. If a property isnt
priced in accordance with prevailing
market conditions, it wont sell. Over-
pricing is one of the key reasons for prop-
erties spending months, if not years, on
the market and sellers who wont accept
that pricing has to be based on what the
market will pay, rather than what they
want in their pockets, are likely to end
up selling for a discounted price a long
way down the line if at all.
But if the price is right, he adds, then
regardless of any other problems the
property has, there will be a buyer for it.
The second problem is area. Location,
location, location is the age-old watch-
word of real estate, he emphasises. The
less desirable the locationof theproperty,
the less options the seller has. Properties
in areas characterized by high crime or
encroaching industrialization are likely
candidates for long stays on the market,
unless, of course, they are priced accord-
ingly.
Third on his list is defects. A defective
property is going to chase buyers away,
he warns. Most buyers want to buy a
place thats fit for them to move into and
start living.
While some are prepared to do cosmet-
ic improvements, most people dont want
to have to undertake major repairs, nor
do they have to in thismarket, where sup-
ply far outweighs demand. That means
the buying pool for these properties is ex-
tremely small, comprising only the brav-
est or most desperate buyers who are
looking for a bargain.
Properties that, despite being adver-
tised week in and week out, fail to sell,
become stigmatized, continues Gray.
Days on the market matter its one
of the first questions a buyer will ask an
estate agent. They feel there must be
something wrong with a house thats
been on the market for a long time, even
if in reality its a quality home that was
just over-priced when it was listed.
Once appointments to viewdryup and
buyer interest hits zero, sellers will in-
variably, depending on their personal
and financial circumstances, either
withdraw their homes from the market
or re-evaluate their pricing, he says.
Its at this point that old listings have
the potential to become todays best
buys, provided purchasers keep three
basic tenets in mind.
Buy it if the price has been brought
in line with current selling prices. Buy
it if youve done your homework on the
area so that there are no nasty surprises
with regard to crime or other negatives.
Buy it once youve done a thorough in-
spection of the roof, foundations, wiring
and plumbing, and make sure all struc-
tural changes are on plan.
If youre not confident enough to do
your own inspection, ask your agent for
the name of a professional home inspec-
tor who will advise you of the existence
of any problems and give you an idea of
the cost of remedying them.
Finally, says Gray, find out about all
recently sold comparable listings in the
neighbourhood and thenwork out an of-
fer based on the average selling price
less the cost of any renovations. RICHARD GRAY CEO of Harcourts Real Estate
Biggest and Best Property guide in the Boland
DistrictMail
HELDERBERG
Strand Gordons Bay Somerset West Stellenbosch Grabouw Elgin| | | | |
Michelle Marston
021 841 4285
Geraldine Menellevie
of Justin Cupido
021 887 2840
Ilse Fourie
021 870 4600
SOLD is die mees koste-effektiewe, ho-
impak keuse vir die bemarking van
eiendom in die Boland