Residential Building Statistics – first quarter 2013

Residential Building Statistics – first quarter 2013

Strong building activity evident in some categories of new housing across South Africa.

Building activity in the segment for flats and townhouses showed some strong growth in the first two months of 2013, with low growth evident in the segment for larger houses. In general the planning phase, as depicted by building plans approved for new housing, contracted by a small margin up to February, while the construction phase benefitted from double-digit growth in the categories of houses smaller than 80m² and flats and townhouses.

The real value of plans approved for new residential buildings was up by R592,3 million, or 14,2% year-on-year (y/y), to R4,76 billion in the first two months of the year. The real value of residential buildings constructed came to R3,38 billion in the same period, which was R524,6 million, or 18,4% y/y, more than a year ago.

Click here to read the full  report compiled by Jacques du Toit, Property Analyst of ABSA Home Loans

MPC keeps repo rate unchanged at 5%

MPC keeps repo rate unchanged at 5%

Following its monetary police committee’s three-day meeting, the South African Reserve Bank has left the repo rate at 5% for the third time.

“The MPC has decided to keep the repo rates unchanged at 5% per annum,” Reserve Bank governor Gill Marcus said on Thursday, after the committee’s three-day meeting in Pretoria this week.

The decision means the prime interest rate for bank lending remains at 8.5%.

The bank has kept the repo rate at 5% since July last year, when it dropped it by half a percentage point.

Marcus noted that a possible spike in inflation remained a key concern due to a recent slide in the value of the rand after hitting a four-year low of R9.29 to the dollar earlier in March.

“The committee will continue to apply monetary policy consistent with its mandate of price stability within a flexible inflation targeting environment,” she added.

But Marcus said that even though the inflation outlook deteriorated, the MPC expected inflation to remain within its official 3% to 6% target range at an average of 5.9% in 2013.

No change expected
Marcus also warned the country’s growth prospects remained subdued and projected gross domestic product (GDP) would grow by only 2.7% this year and 3.7% in 2014.

She also noted that South Africa’s economy was still performing below its potential.

“I don’t think anyone was expecting a change in interest rates and rightfully so,” said Chris Hart, chief economist at Investment Solutions.

“The Reserve Bank is in a tough spot at the moment as growth is depressed but inflation is growing but it would have been a bad idea to tamper with the interest rates at this stage.”

Hart’s view was echoed Adenaan Hardien, senior economist at Cadiz.

“We predict the next move on interest rates to come out at the end of 2014 with an increase being brought in,” he said.

“But this will be dependent on our real growth prospects and of course what happens with the rand during that period.”

Source: Mail & Guardian
Source Link: http://mg.co.za/article/2013-03-20-repo-rate-once-again-unchanged

The City Council Property Valuation Roll

The City Council Property Valuation Roll

The City Council property valuation roll is open for inspection from 27 February 2013 to 3 May 2013 for City of Tshwane.

If you have not checked and objected to the valuation for your property before the deadline of 3 May you will have to pay whatever they decide for the next 5 years ito assessment rates.

Please contact the City of Tshwane on (012) 358 9999 for any further assistance.

Below is an article that appeared in the Beeld newspaper recently:

BEELD ARTICLE

Article in the Beeld dated 22nd February 2013 written by Cobus Claassen

Inwoners in die Tshwane-metro moet seker maak hul sakke gaan nie te veel vir eiendomsbelasting geruk word nie wanneer die munisipaliteit se nuwe waardasierol volgende week beskikbaar gestel word.

Tshwane het sy nuwe rol vir die tydperk 1 Julie 2013 tot 30 Junie 2017 onlangs gefinaliseer.

Die rol sal van 27 Februarie tot 3 Mei oop wees vir inspeksie en besware. Eiendomsbelasting sal van 1 Julie op grond van die waardasies gehef word.

Ben Espach, ’n kenner van munisipale eiendomsbelasting, sê inwoners moet hul eiendomme se nuwe waardasies noukeurig nagaan. “As jy die openbare beswaarmakingsproses misloop, gaan dit moeilik wees om jou waardasie reggestel te kry. Mense moet ook seker maak dat hul eiendomme in die regte kategorie aangedui word.”

Tshwane het net meer as 580 000 eiendomme op sy nuwe rol en die waarde het met R384 miljard gestyg sedert 2008.

Die waardasierol van die Johannesburgse metro het met net meer as R200?miljard toegeneem in dieselfde tydperk.

Espach sê hoewel die waardasie van ’n eiendom belangrik is, is dit die heffing waarop Tshwane in sy begroting gaan besluit, wat die grootste invloed op eiendomsbelasting gaan hê.

www.beeld.com