A number of cars were damaged on Friday during blasting operations at a Gautrain construction site on the N1 north at Centurion, the Bombela Concession Company said.

"During a routine blasting operation, 20 meters underground, fly rock from the Gautrain construction site accidentally landed on the road, causing damage to a few cars near the John Vorster interchange, " said spokeswoman Kelebogile Machaka.

She said no injuries were sustained and blasting was immediately halted.

"The N1 northbound was temporarily closed until the Bombela construction team had checked the road conditions. The road has since been reopened."

SA's Eskom in early talks with World Bank unit

The World Bank's private sector lender said on Wednesday it was in very early talks with South Africa's Eskom on possible financing to help the power company increase electricity supply.

"We are in exploratory talks with Eskom," an International Finance Corp spokesman told Reuters. Although IFC mainly lends to private-sector companies in developing countries it has recently increased lending to well-run so-called sub-national groups.

Interest Rate -
Property buyers 'back in market'

The Reserve Bank’s Monetary Policy Committee (MPC) decided to keep the key monetary policy interest rate – the repo rate – unchanged at 12,0%, mainly on the back of weakening economic conditions. As a result, the commercial banks also left their lending rates to the public, i.e. prime and home loan rates, unchanged at 15,5%. 

Subsequent press statements pointed to the fact that interest rates have peaked and will no longer be hiked.  The oil price has come down significantly, and we are all probably going to pay around R1 less per litre of fuel from September.  All this causes optimisim in the market.

Estate agents say investor sentiment has improved significantly over the past two weeks following the Reserve Bank’s decision not to hike interest rates, with buyers activity in both residential and commercial property picking up steam.

Property Affordability -
Have you considered sharing?

Yes, this is indeed the way forward for many people trying to get a foot in the property market but can’t afford it on their own.  Just think:
• You pay only half the deposit (if any)
• You pay only half the instalment
• You pay only half the levy
• You pay only half the electricity bill
But you share the whole house! 

Furthermore…
• You only need half the income to qualify for the loan
• You share the risk
• You become a joint property owner with all the accompanying benefits, which is a whole lot better than not being a property owner at all!  Doesn’t this make a whole lot more sense than renting?

Example: You buy a 2 bedroom townhouse. The instalment would typically be around R7 000 per month. But sharing with someone means you only pay R3 500!  And there has seldom been a better time to buy than now!

Body corporate takes woman to court
A Rondebosch Body Corporate has asked the Cape High Court to grant it a sequestration order against the former owner of a business which managed the administration of scores of bodies corporate across Cape Town.

The business, Sectional Title Administrators CC (STA), was wound up in April this year, and was owned by sisters, Glenda Mes and Elaine Lawson.

Mes asked that the business be wound up after she discovered that R5,5-million, which belonged to its various clients, was missing......MORE

Property Finance -
Financing your lifestyle 'at no cost to you'

Use the growth in the value of your property for:

* Home improvements
* Dream holiday
* Children’s education
* Investment opportunity
* New vehicle
* Consolidation of debt (If you have “expensive” debt such as credit card budget account or HP, these can be consolidated with your home loan at lower interest rates and lower repayments)

We negotiate with any of the major Mortgage Lenders to ensure that you get the best terms and right product to suit your needs (Absa, Standard Bank, First National Bank, Nedbank, SA Home Loans, Property 24, Integer, Sanlam Home Loans.)  We do not charge you for this service.  To qualify you need to:
* Own a property which is worth R100 000 or more than you owe on it
* Have a regular income that covers all your expenses with some to spare
* Have a clear credit record