The current slowdown in South Africa’s residential property price growth provides potential home buyers with the ideal opportunity to get a foot on the property ladder. Buyers can gauge how fair an asking price is by consulting an estate agent or by purchasing a property valuation report. However, in order to take full advantage of this opportunity, consumers need to empower themselves with information to guide them on how to make the best possible investment decision.

House prices are expected to decline further this year and wealthy property buyers are reportedly cautious about investing in the buy-to-let market. According to the latest Absa House Price Indices, nominal house price growth is forecast to be well within single digits for the full year. In real terms, prices are expected to continue to decline in the rest of the year in the face of rising consumer price inflation, which is projected to be around 6 percent year-on-year (y/y) by the end of 2011

Many believe, wrongly, that they can exit from a deal after the offer to purchase is accepted. It may come as a surprise to many that South African conveyancers time and again find themselves faced with buyers who do not appreciate how binding and non-negotiable an offer to purchase is once the seller has accepted it and any suspensive clauses (e.g. the sale of another home or the granting of a bond) have been complied with.

Staying emotionally detached is one of the biggest challenges for any home seller, but necessary if you don’t want to put buyers off and lose the sale. Staying emotionally detached is one of the biggest challenges for anyone selling a home. “Once you decide to sell your property, it’s a mistake to see it as anything more than a commodity to be packaged, priced and marketed,”

There are some estate agents in South Africa who have been working tirelessly to gain a form of professional status for those people engaged in the business of selling houses.

Latest data from the major banks paint a bleak picture of South Africa’s residential property market, with last year’s mini-recovery turning out to be short-lived.

Property in East London, as in any other coastal town, remains very popular. The Private Property Reporter confirms that not only does property in coastal towns or cities make for excellent holiday homes, but it can also become a money earner for you.

With the residential property market experiencing difficult times and a buyers’ market, sellers must ensure their properties present the best possible picture. That’s why gardens are so important. “Gardens sell houses,” “The first thing I did when I got a house to sell was to look at the garden. Today, relaxed living has become so important. A good wall and an imposing entrance leading into a garden or courtyard are also very important.” A really excellent garden can in fact add up to 20% to the selling value of a home.

The South African property market remains depressed with most segments showing a decline in prices in nominal terms in the third quarter of this year with nominal prices for houses in the middle segment falling by 2,6%.

The Annual Broll Property Report, which was released today, points to local government delivery, skills and employment levels, flexible financial and labour markets, the benefits of the recent massive infrastructure outlays, electricity shortages and interruptions, and environmental legislation, as the major factors which influence the performance of the property sector in South Africa. The 2010 Broll Property Report covers research and trends in commercial property in South Africa's and Africa's major nodes, as well as internationally, spanning the retail, office and industrial property markets.

Build or buy? That is the big question when you consider moving. An important decision maker is often cost. There was a point where it was cheaper to for vacant land for sale and then build your brand new dream home on that piece of land. But that is not necessarily the case anymore, especially following a recession when the property market is slow.

Buyers or sellers wanting to make sure that their ducks are in a row and that there will be no hold ups should, therefore, liaise with a competent conveyancer and/or a trained and experienced agent to whom they should give their current bond account number and tax details. The seller should also make sure that he has a rates clearance certificate from the municipality and that his current bond issuer has been given three months notice of his intention to cancel and pay off the bond.

WEALTHY Gautengers and Free Staters are descending on East London, snapping up properties and pumping cash into the area through hefty investments in a move that has been likened to a new “Great Trek”.

ALREADY dominated by a thriving automotive sector, the East London Industrial Development Zone (IDZ) this week unveiled its first agricultural processing plant, cementing its strategic plans to diversify into other industries.

The mixed-use development concept, well entrenched in Johannesburg and Cape Town, is starting to prove popular in other parts of the country with a R763m being development planned for East London.