Continued Growth in average House Prices

ooba Statistics Reveal Continued Growth in Average House Prices and Reduced Deposits

Latest statistics from ooba, South Africa’s biggest bond originator, continue to reflect positive year-on-year price growth, up 3.4% in March this year (R903,922) compared to March 2012 (R874,228).  However, the average house price is 0.5% down on February 2013.

ooba continues to report record approval rates on top of the record highs set in the last quarter of 2012. The value of home loans approved through ooba in the first quarter of 2013 is up 23% on 2012.  For the last six months of 2012, ooba’s approved home loans value was up by 38.8% compared to the same period in 2011.

“There is no doubt that there is growing activity in the property market, supported by increased confidence from both buyers and lenders,” says Saul Geffen, ooba CEO.

The average house price for first-time buyers was strongly up by 9.6% year on year to R690,474 but down 1.2% month on month from R698,721 in February. First-time buyers made up almost 52% of ooba’s applicants in March.

Further positive news for homebuyers is the continued drop in the average home loan deposit, dropping substantially by 21.2% year on year to R120,936, equivalent to 13.4% of the average purchase price.  “This is further indication of the banks’ confidence in improving market conditions, and is good news for home loan applicants,” says Geffen. “However, we continue to advise our clients to save up for as large a deposit as possible, as this still increases their chances of having their home loan approved and on better terms.”

The average approved bond size increased 8% to R782,986 in March this year from R725,260 in March 2012.

The average initial bank decline ratio decreased 0.5% year on year and the percentage of applications that were declined by one bank but approved by another improved to 27.9%, up 3.6% year on year.

ooba’s effective approval rate, which is the overall percentage of loans approved once ooba has shopped the loan to multiple banks, was 66.5% in March, 2.1% up on March 2012, while ooba’s trailing approval rate, which takes into account loans approved after month-end, is currently 74.7%.

ooba continues to achieve the highest approval rates in the industry. “We secure approvals for 74% of the home loan applications we facilitate, which compares favourably with the overall average bank approval rate of 54% across the major lenders,” says Geffen. “This essentially means that homebuyers have on average a 37% better chance of getting their home loan approved when using ooba.

Full oobarometer analysis

Indicator	Mar 2013	Mar 2012	Change yr on yr (Mar 13 vs Mar 12)	Feb 2013	Change month on month (Mar 13 to Feb 13)
Avg purchase price	903,922	874,228	3.4%	908,658	-0.5%
Avg purchase price of  first time buyer	690,474	629,789	9.6%	698,721	-1.2%
Avg approved bond size	782,986	725,260	8.0%	782,815	0.0%
Avg deposit (as % of purchase price)	13.4% (R120,936)	17.0% (R148,968)	-21.2%	13.9% (R125,843)	-3.6%
Avg age of applicant	37	37	No Change	36	1 Year Older
Avg initial decline ratio (first bank decline)	46.5%	47.0%	-0.5%	43.6%	2.9%
Ratio of applications declined by one lender but approved by another	27.9%	24.3%	3.6%	28.7%	-0.8%
Effective approval ratio	66.5%	64.4%	2.1%	68.9%	-2.4%

For all your properties needs, call us now!

072 610 1416 or 021 843 3425

Email on claudine@cjwa.co.za

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Emigration home sales & foreign buyers

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27 Mar 2013

According to the FNB Estate Agent Survey on Emigration and Foreign Buying, 2008 saw another emigration upturn, peaking at 20 percent of total home sellers in the second quarter of 2008, in a thinly traded market.

According to the FNB Estate Agent Survey on Emigration and Foreign Buying, 2008 saw another emigration upturn, peaking at 20 percent of total home sellers in the second quarter of 2008, in a thinly traded market.

The percentage steadily subsided to the most recent survey’s 2.7 percent of total home sellers, still further down on the previous quarter’s 3.3 percent.

Writing in the report, John Loos, FNB household sector and property strategist says this low emigration-related selling rate, in the face of a very significant deterioration in sentiment towards the country yet again, seems out of line with what has taken place in previous periods of sentiment deterioration.

He notes that economic times have been particularly tough globally over the past four years or so, and unemployment rates in some of the popular South African emigration destinations are high.

“We continue to believe that weak job prospects abroad may continue to be a key constraint on aspirant emigrants, and in better global economic times, recent turbulence in South Africa could have resulted in another emigration surge.”

Loos says the survey still doesn’t show meaningful changes in foreign buying or recently low levels of emigration-related selling.

However, domestic sentiment needs to improve before the global economy recovers more sustainably, he points out.

The currently weak global economic period probably also masks any change in sentiment towards South Africa too, in terms of foreign buyers of South African homes, because foreign buying has been relatively weak since 2010, probably as a result of foreign households also having financial constraints of their own, and property not having been the popular asset class in any case for a few years now, explains Loos.

With regard to foreign buyers, the second quarter moving average for Q1 2013 was unchanged from the previous quarter’s 3.5 percent of total buyers of local residential property.

This remains far from the highs of 6.5 percent in 2008, although better than the 2 percent low reached in late-2010, he notes.

Financial times in economies such as Europe and the UK, from where a significant portion of SA’s foreign buyers come, are currently tough, and that could conceivably be putting pressure on foreign buying, so this source of residential demand could have been expected to be weak with or without domestic sentiment changes, according to Loos.

Estate agents report an increase of home buyers from other African countries, a group that hadn’t appeared to be affected by the recently negative South African environment.

Expressed as a percentage of total foreign buyers, the African contingent increased from 8.5 percent in 2010 to 22 percent for the second quarters to the fourth quarter of 2012.

“South Africa is likely to see further increase in the African foreign buyer percentage, as Africa’s economic fortunes continue to improve and its household wealth grows too.”

However, Loos says as Africa’s economic fortunes improve, so too will its cities and property markets develop.

This will mean that the African property investor will also have more alternatives to South Africa, the African shopper more retail alternatives, and African skilled professionals more alternative places on the continent to be employed.

South Africa will face significantly more competition for skills and foreign property investors on the continent, and sentiment towards it needs to be positive, adds Loos. –Denise Mhlanga

Stellenbosch Fresh Goods Market

• 

Saturdays, 9:00 - 14:00

Venue: Stellenbosch Fresh Goods Market

Event Type: Market

The Stellenbosch Fresh Goods Market together with the Willow Bridge Slow Market promote organic and healthy living every Saturday. In contrast to 'fast food' this Market represents the idea of  'slow food'.  

Food and goods that are straight from the farm, so to speak. All foods are fresh, seasonal, natural and locally grown, bringing you the food that mother nature intended.

The Stellenbosch Fresh Goods Market and the  Willowbridge Slow Market conveniently brings together a variety of fine foods and wines. You will experience an ancient way of shopping in a modern context. No long cold storage is used to bring foods to market,no chemicals are used in their production, no excessive food miles are wasted and no doubtful production methods are employed.

Customers have a chance to taste food before they buy it and bargaining and swapping of recipes is the order of the day. By trading the food grown on the urban edges the Fresh Goods market is aiming to make the food chain more sustainable and environmentally sensitive. All foods are fresh seasonal and locally grown making them simple, nourishing and delicious.

There are so many new themed events planned this year to teach you about seasonal foods and 'when to eat what'. Reduce, Reuse, Recycle, Repair and Reimagine.

Summer Strawberry Fair 

Berry Berry Fun. The start of summer and my goodness do we celebrate all things Pink at the Summer Strawberry Fair on the 3 November at Stellenbosch Slowmarket. Seasonal freshly picked palettes of strawberries, Robertson Valley pomegranate juices and delectable reductions ideally topped on Ice Cream. Our local Boland farmers adorn us with blueberries & blackberries and our award winning producers and traders infuse their popular meals with all things berry. Berry Cordials, Strawberry Dacarees, Strawberry Pesto, Berry Ice Cream, Rudi’s Strawberry Sausage, Strawberry bakes and strawberry jams. Even our crafters infuse berries into their soaps, bath salts and design.

Christmas Night Market

The Christmas Night Market on Friday evening the 30TH November at the Stellenbosch Slowmarket is the highlight of our yearly events calendar. The only night market that we host this successful event is growing from strength to strength and attracts hundreds of festive season shoppers and people watchers. This vintage styled authentic market has all the Christmas trimmings and we go all out in ensuring we select the finest suppliers of traditional Christmas goodies. Gingerbread houses, Christmas fruit cakes, mince pies, organic nuts, gammon rolls, German bratwurst, champagne, fynbos topiaries, décor and festive season ideas. Relaxed vintage Christmas music, coupled with a live music theatre production in the Oude Libertas Amphitheatre is most popular on the hot summer nights. Our designer goods market known as The Treasury Market will be joining us. Christmas gifts galore to fill up those stockings with handmade goods made by designers, crafters and artisans.

The Treasury Market

In December we launched a new designer goods market known as The Treasury Market. The perfect platform for a gorgeous selection of hand picked goods, handmade with care and passion. Designers, crafters and artisans with great product may be viewed in this boutique environment which joins us on every first Saturday of the month and on these special occasions. Please tell your friends and visit the website treasurymarket.co.za and facebook page.

Contact Info

Phone: +27 72 922 9311 

Email: slowfood@slowmarket.co.za 

Website:

Event / Venue Location

Venue: Stellenbosch Fresh Goods Market, Distillery Rd, Oude Libertas, Stellenbosch,

Latitude: 18.846121 Longitude: -33.940371

Have a lovely weekend, and pop over to visit the market; you will be back for more!

CjW

RELATIVITY vs PERSPECTIVE

It's all relative...everything, will always be relative....right?...
now, read this, and THINK!..... 
And it'll put it all into PERSPECTIVE...  CjW.

Portraits of Refugees Posing With Their Most Valued Possessions

• Michael Zhang · Mar 21, 2013

 

If you had to quickly flee both your home and country, what one possession would you make sure you take with you? It’s a question that reveals a lot about your life and values, and, unfortunately, is one that many people around the world actually have to answer.

NYC-based photographer Brian Sokol has been working on a project supported by the UN Refugee Agency titled “The Most Important Thing.” It consists of portraits of refugees in which the subjects pose with the one thing they couldn't let go of when running away from home.

Sokol started the project in Sudan. More than 100,000 refugees have crossed the border between Sudan’s Blue Nile state and South Sudan’s Upper Nile state since November of 2011. Many of the refugees fled on a moment’s notice, bringing only what they could carry in their arms.

The most important thing Omar was able to bring with him is the axe he holds in this photograph. He used it to cut firewood for cooking and to make small wooden structures where his family could sleep at night, and sometimes to rest for several days at a time, during their journey.

The most important thing Maria brought with her is the jerrycan (water container) that she holds in this photograph taken at Jamam camp in Maban County, South Sudan.

The most important object Howard was able to bring with him is the long knife he holds, called a shefe, which he used to defend his family and his herd of 20 cattle during their 20-day journey from Bau County to the South Sudanese border.

The most important things that Torjam was able to bring with him were the plastic bottles he holds here. One carried drinking water, the other cooking oil. “All I could carry was this, and an axe. We couldn't bring much, and even had to leave some other old people behind.

The most important object Hasan was able to bring with him is the empty wallet he holds. Though he is now destitute, he left Maganza with enough money to buy food for his family during their 25-day journey to the South Sudanese border.

The most important thing Ahmed was able to bring with him is Kako, his pet monkey. Kako and Ahmed made the five-day journey from Taga to the South Sudanese border together in the back of a truck. Ahmed says he can’t imagine life without Kako, and that the most difficult thing about leaving Blue Nile was having to leave his family’s donkey behind.

The most important object Dowla was able to bring with her is the wooden pole balanced over her shoulder, with which she carried her six children during the 10-day journey from Gabanit to South Sudan. At times, the children were too tired to walk, forcing her to carry two on either side.

The most important thing that Shari was able to bring with her is the stick she holds. “I’ve had this stick since I went blind six years ago, she said. My son led me along the road with it. Without it, and him, I would be dead now.”

The most important thing Al Haj was able to bring with him is the whip that he holds. Without it, he says, he wouldn’t have been able to keep together his herd of 50 goats, and he would now be destitute.

The most important thing Magboola was able to bring with her is the cooking pot she holds in this photograph. It was small enough she could travel with it, yet big enough to cook sorghum for herself and her three daughters during their journey.

Sokol also took his project to the Middle East, where he photographed Syrian refugees who have fled from their country to neighboring countries that include Jordan, Lebanon, Turkey, and Iraq. Unlike the refugees of Sudan, Syrian refugees often flee under the guise of taking a family walk or leisurely drive. Thus, they commonly take little more than what can be worn on the body or stuffed into pockets.

The most important thing that Salma was able to bring with her is the ring she displays in this photograph. When she was ten years old, her mother gave it to her from her death bed, saying, “Keep this ring and remember me.” She intends to wear the ring to her grave. “It’s not valuable – not silver, or gold – just an old ring. But it’s all that I have left.”

The most important thing Tamara was able to bring with her is her diploma, which she holds in this photograph. With it she will be able to continue her education in Turkey. Through a generous education program, the government will allow qualified Syrian refugees to attend Turkish universities beginning in the March semester.

The most important thing Ayman was able to bring with him from Syria is his wife. “She’s the best woman that I’ve met in my life,” he says. “Even if I were to go back 55 years, I would choose you again.”

The most important thing Yusuf was able to bring when he fled Syria is the mobile phone he holds in this photograph. “With this, I’m able to call my father. We’re close enough to Syria here that I can catch a signal from the Syrian towers sometimes, and then it is a local call to call home from Lebanon.” The phone also holds photographs of family members who are still in Syria, which he is able to keep with him at all times.

The most important thing Leila was able to bring with her are the jeans she holds in this photograph. “I went shopping with my parents one day and looked for hours without finding anything I liked. But when I saw these, I knew instantly that these were perfect because they have a flower on them, and I love flowers.” She has only worn the jeans three times, all in Syria – twice to wedding parties, and once when she went to visit her grandfather. She says she won’t wear them again until she attends another wedding, and she hopes it, too, will be in Syria.

The most important thing Ahmed was able to bring with him is the cane he holds in this photograph. Without it, he says, he would not have made the two-hour crossing on foot to the Iraqi border. “The only other thing I have left is this finger,” he said. “All I want now is for my family to find a place where they can be safe and stay there forever. Never should we need to flee again.”

The most important thing May was able to bring with her when she left home is the set of bracelets she wears in this photograph. “The bracelets aren’t my favourite things,” she says; “my doll Nancy is.” May’s aunt gave her the doll on her sixth birthday. “She reminded me of that day, the cake I had, and how safe I felt then when my whole family was together.”

The most important thing Iman was able to bring with her is the Koran she holds in this photograph. She says that religion is the most important aspect of her life, and that the Koran inspires a sense of protection. “As long as I have it with me, I’m connected to God,” she says.

The entire series’ are available through the UNHCR’s Flickr account. You can find the Sudan series here and the Syria series here.

Read more at http://www.petapixel.com/2013/03/21/portraits-of-refugees-posing-with-their-most-valued-possessions/#PDzy3RPZYCbQDWaK.99