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Battle for view goes to high court A stretch of “hand-tied screens of locally sourced eucalyptus branches” on the flat roof of a house has prompted a Johannesburg couple to launch a high court battle.
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Property market will continue to fall: survey
Fifty percent of South Africans feel that the property market will continue its downward trend until the end of this year, according to the results of an online survey released by mortgage originators ooba.
House price deflation gathers steam: FNB
The year-on-year (y/y) decline in the FNB House Price Index continued to gather momentum in February, from a January revised rate of 4.7% to -6.9% last month, the latest FNB house price index revealed.
SA trade deficit R17.4bn
South Africa recorded a new record deficit of 17.380 billion rand for its trade with non-Southern African Customs Union trading partners in January after the 1.636 billion rand deficit in December, according to Customs & Excise figures released.
Absa, Vantage Capital acquire Kwikspace
A consortium of private equity investors, co-led by Absa Capital Private Equity (Pty) Ltd and Vantage Capital Group (Pty) Ltd, announced on Tuesday that they had acquired the entire issued ordinary share capital of the JSE-listed Kwikspace Modular Buildings Ltd.
SA 24th in global property rights
South Africa has been ranked 24th in a study that shows that countries that protect the physical and intellectual property of their people enjoy nearly nine times higher GDP per capita than countries ranking lowest in property rights protections.
More SA firms likely to close
Some 25% more South African companies are likely to go to the wall this year compared with 2008 as a result of bad debt, a top economist predicted on Thursday.
Civil debt judgments down 3.4% y/y
The total number of civil judgments recorded for debt in December declined 3.4% year on year after a 16.4% y/y decline in November, Statistics South Africa data showed on Thursday.
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Property Trends
ECB rate cut ’likely in March’
MADRID - The European Central Bank is likely to lower its key interest rate by half a percentage point beyond its current record low level to 1.5%, a member of the bank’s board suggested on Wednesday.
BoE cuts key interest rate to record 1%
The Bank of England pushed deeper into historically uncharted territory in its battle to combat the recession, ordering another half-point cut in interest rates to a record low of 1 percent.
ECB set to hold rates, cut again in March
Britain awaits deep interest rate cut
ECB leaves main interest rate steady at 2%
The European Central Bank kept its main interest rate stable at 2.0% on Thursday, but economists expect it to hit a record low in March.
SA power consumption down 8.4%
The estimated consumption of electricity in SA in December 2008 declined 8.4% year-on-year compared with a revised -5.8% (-5.7%) in November 2008, data released by Statistics South Africa (Stats SA) showe.
Top End
British bank chiefs face ire of lawmakers
The former heads of the two biggest casualties of the British banking crisis will be quizzed by an influential group of lawmakers about how their once-proud banks ended up being bailed out by the government.
Tax pressure on wealthy individuals
Current economic circumstances and their impact on corporate earnings will result in a squeeze on state coffers.
Emerging Market
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Residential Property Gauge
Click here to see the complete Residential Property Gauge document (PDF)
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