All potential owner builders that qualify for exemption from the NHBRC, must take note that they have to get exemption before construction starts.
If you start with construction of a newly built home without an enrolment certificate or a letter that exempts you from enrolling your home you are breaking the law and will then have to enrol your home as a late enrolment.
For more information, please visit The Facilitators FAQ's Page.
Monday, May 11, 2009
Thursday, May 7, 2009
Steel Buildings Are Taking Off
IN just a few years the light steel frame building (LSFB) industry has grown into a useful technology. This is largely due to the efforts of the Southern African Light Steel Frame Building Association (SASFA), a division of the Southern African Institute of Steel Construction (SAISC). “Such are the advantages of this construction technology it is increasingly becoming an accepted alternative for the local building industry,” says SASFA director John Barnard.
He says the ability of practitioners to learn quickly the gamut of skills required in LSF building, including understanding overall cost and energy savings available through this building method, have added to the success of this new industry.
“Of course, with a burgeoning new construction technique one has to ensure that standards are maintained. Training is fundamental to this process,” says Barnard.
He says that while there will be several training initiatives in areas such as erection and cladding, courses for designers and builders, SASFA will concentrate initially on building inspectors - i.e. municipal and NHBRC inspectors and financial institution evaluators - to ensure they have the skills to monitor that the LSFB industry is complying with the standards set down in SASFA’s building code.
In the meantime, SASFA is in the process of rolling out an industry accreditation scheme, which will assess the four main stages of the LSFB process i.e. the LSFB system utilised e.g. Scottsdale, FrameMaster, Hayes, Howick, Mitec and Dezzo; design and manufacturing processes; steel frame erection and building completion. “We see an inextricable link between the SASFA Accreditation Scheme and our training initiative. They work hand-in-hand to ensure consistently good standards in our industry”, says Barnard.
SASFA is planning several key training programmes, which will be presented in the major centres across the country, as well as Namibia. “We are trying to provide training in all the facets to ensure that the potential of this building method is reached in Southern Africa.”
There are currently 29 South African profiling companies manufacturing light steel frames.
They have a combined annual manufacturing capacity (single shift basis) of 43 million linear metres of light steel sections, or 39 000 tons of galvanised steel per year. Some 36% of the capacity is dedicated light steel truss manufacturing facilities.
“Conservatively, this means that light steel frames can be supplied for 1.5 million sq m of LSFB structures (wall frames and trusses) and trusses only for a further 1.8 million sq m per year of floor area of building
Barnard says that because the light steel frame building offers a wide range of benefits for fast track construction logistical cost advantages and thermal efficiency, offering cost savings of up to 20% or more compared to conventional building methods, the industry is growing rapidly.
Cape Business News - Cape Town,South Africa
He says the ability of practitioners to learn quickly the gamut of skills required in LSF building, including understanding overall cost and energy savings available through this building method, have added to the success of this new industry.
“Of course, with a burgeoning new construction technique one has to ensure that standards are maintained. Training is fundamental to this process,” says Barnard.
He says that while there will be several training initiatives in areas such as erection and cladding, courses for designers and builders, SASFA will concentrate initially on building inspectors - i.e. municipal and NHBRC inspectors and financial institution evaluators - to ensure they have the skills to monitor that the LSFB industry is complying with the standards set down in SASFA’s building code.
In the meantime, SASFA is in the process of rolling out an industry accreditation scheme, which will assess the four main stages of the LSFB process i.e. the LSFB system utilised e.g. Scottsdale, FrameMaster, Hayes, Howick, Mitec and Dezzo; design and manufacturing processes; steel frame erection and building completion. “We see an inextricable link between the SASFA Accreditation Scheme and our training initiative. They work hand-in-hand to ensure consistently good standards in our industry”, says Barnard.
SASFA is planning several key training programmes, which will be presented in the major centres across the country, as well as Namibia. “We are trying to provide training in all the facets to ensure that the potential of this building method is reached in Southern Africa.”
There are currently 29 South African profiling companies manufacturing light steel frames.
They have a combined annual manufacturing capacity (single shift basis) of 43 million linear metres of light steel sections, or 39 000 tons of galvanised steel per year. Some 36% of the capacity is dedicated light steel truss manufacturing facilities.
“Conservatively, this means that light steel frames can be supplied for 1.5 million sq m of LSFB structures (wall frames and trusses) and trusses only for a further 1.8 million sq m per year of floor area of building
Barnard says that because the light steel frame building offers a wide range of benefits for fast track construction logistical cost advantages and thermal efficiency, offering cost savings of up to 20% or more compared to conventional building methods, the industry is growing rapidly.
Cape Business News - Cape Town,South Africa
Thursday, April 30, 2009
First beneficiaries move into unfinished houses
The first residents of the Refentse Low Cost Housing Project in Rietfontein have move into eight homes at the site even though the contractors are still at work completing the houses and no water or sanitation infrastructure have been installed.
According to some of the residents they were informed by the community officer of the Local Municipality of Madibeng that they could move into their houses and they told Kormorant that the municipality assisted them to move there last Saturday.
The residents said that they were the first ones to receive houses at the low cost housing project and that they had been waiting for their homes since they put their names on the beneficiary list in 2000. According to what they understood they were the first to receive houses because of the age of the beneficiary and that the position on the original list was not used to determine this.
Mostly, the residents expressed their joy at being able to move into their houses but during a tour of the two bedroom houses they indicated that although installed, the toilets are not working yet and there are no water taps or basins in the houses.
A portable toilet was placed in the area of the eight occupied houses and the residents indicated that they get water from taps which are situated approximately 100m away.
According to the residents the contractors are still working on site and indicated that they would clear the veld between the houses during this week. The tall, dry grass holds a danger of fire as the residents still make fires outside the houses to cook on.
Asked whether they needed to pay any money to be able to move in, the residents said no. This followed rumours that residents of the informal settlement were told that they could pay R30 and receive an ANC membership card which would allow them to move into the houses before the election last week.
Mr. Patrick Morathi, communication and marketing coordinator for the Local Municipality of Madibeng said in response to enquiries that although the project has not been handed over to the municipality by the contractors there are eight families occupying houses on the site.
He said that all the services have not been installed at the project yet and that the project will continue after a forensic audit by the Department of Local Government and Housing and the NHBRC.
Morathi said in all 50 houses were inspected and minor problems were found.
“The basis for allocation was to allocate houses to the most needy people but obviously there were categories identified and prioritised. We must indicate that we have 461 approved beneficiaries for the project of 167 houses. This was the result of having initially targeted 1000 and scaled down to 500 and finally 167 after objections and the Environmental Impact Assessment process,” Morathi said.
He confirmed that transport was arranged to help the families move because some of the families were relocated from Kommandonek.
Morathi said that more families will not be moved to Refentse in the near future.
“We have installed five mobile toilets for the current occupants and will extend the service as and when the need arises. As for water, we are currently providing water tankers and will extend such a service on the basis of need,” Morathi explained.
He denied that the residents were asked to pay R30 for an ANC membership card.
He said that although some people have been approved as beneficiaries the prioritisation was designed in terms of need. “Our first priority was the elderly, followed by child headed households as a result of parents passing away, then the rest will follow.
We are currently engaging developers around the Dam to accommodate low cost housing projects in their respective developments to accommodate the rest of the approved beneficiaries,” Mortahi said.
Kormorant - Hartbeespoort,South Africa
According to some of the residents they were informed by the community officer of the Local Municipality of Madibeng that they could move into their houses and they told Kormorant that the municipality assisted them to move there last Saturday.
The residents said that they were the first ones to receive houses at the low cost housing project and that they had been waiting for their homes since they put their names on the beneficiary list in 2000. According to what they understood they were the first to receive houses because of the age of the beneficiary and that the position on the original list was not used to determine this.
Mostly, the residents expressed their joy at being able to move into their houses but during a tour of the two bedroom houses they indicated that although installed, the toilets are not working yet and there are no water taps or basins in the houses.
A portable toilet was placed in the area of the eight occupied houses and the residents indicated that they get water from taps which are situated approximately 100m away.
According to the residents the contractors are still working on site and indicated that they would clear the veld between the houses during this week. The tall, dry grass holds a danger of fire as the residents still make fires outside the houses to cook on.
Asked whether they needed to pay any money to be able to move in, the residents said no. This followed rumours that residents of the informal settlement were told that they could pay R30 and receive an ANC membership card which would allow them to move into the houses before the election last week.
Mr. Patrick Morathi, communication and marketing coordinator for the Local Municipality of Madibeng said in response to enquiries that although the project has not been handed over to the municipality by the contractors there are eight families occupying houses on the site.
He said that all the services have not been installed at the project yet and that the project will continue after a forensic audit by the Department of Local Government and Housing and the NHBRC.
Morathi said in all 50 houses were inspected and minor problems were found.
“The basis for allocation was to allocate houses to the most needy people but obviously there were categories identified and prioritised. We must indicate that we have 461 approved beneficiaries for the project of 167 houses. This was the result of having initially targeted 1000 and scaled down to 500 and finally 167 after objections and the Environmental Impact Assessment process,” Morathi said.
He confirmed that transport was arranged to help the families move because some of the families were relocated from Kommandonek.
Morathi said that more families will not be moved to Refentse in the near future.
“We have installed five mobile toilets for the current occupants and will extend the service as and when the need arises. As for water, we are currently providing water tankers and will extend such a service on the basis of need,” Morathi explained.
He denied that the residents were asked to pay R30 for an ANC membership card.
He said that although some people have been approved as beneficiaries the prioritisation was designed in terms of need. “Our first priority was the elderly, followed by child headed households as a result of parents passing away, then the rest will follow.
We are currently engaging developers around the Dam to accommodate low cost housing projects in their respective developments to accommodate the rest of the approved beneficiaries,” Mortahi said.
Kormorant - Hartbeespoort,South Africa
Tuesday, April 21, 2009
Centurion drawing first-time buyers
Centurion's plethora of sectional title properties has been drawing a steady stream of buy-to-let investors and first-time buyers in recent years.
Paul Greyling, principal of the local Chas Everitt International franchise, says many are now coming back on to the market at good prices because the rentals that can be achieved do not cover the monthly home loan instalments at current interest rates.
Four residential nodes are currently proving particularly popular with the young set, he says, including the lifestyle estates of Celtisdal and Brooklyn which offer one and two-bedroom units ranging in price from R480k to R800k. Carports and pools come standard and Brooklyn residents also have the use of a tennis court and clubhouse.
Thatchfield estate and the suburb of Eldoraigne have also become fashionable. Units on offer are larger at prices ranging between R800k and R2m.
"Some developers have also now realised that there is demand for bachelor style accommodation, and open-plan apartments catering to this market are starting to make an appearance, at prices from around R400k," says Greyling.
However, he advises that those who want to get on to the property ladder do need to be well-prepared financially. "The majority of banks now require a deposit of at least 10% and on top of that there are transfer costs, which means you need to have quite a large amount of cash on hand.
"Banks also need to know that you can afford your bond and they prefer that your instalment does not absorb more than a third of your monthly income. So if you want to purchase a property for R500k, with a monthly bond repayment of R6k, you would need to prove household earnings of about R18k pm to qualify for a home loan."
And then, he says, potential buyers need to budget for rates and taxes as well as sectional title levies. In Centurion, rates range between R300 and R600 a month depending on the area. Levies range from as little as R300 a month to as much as R1k in some older developments.
www.property24.com
Paul Greyling, principal of the local Chas Everitt International franchise, says many are now coming back on to the market at good prices because the rentals that can be achieved do not cover the monthly home loan instalments at current interest rates.
Four residential nodes are currently proving particularly popular with the young set, he says, including the lifestyle estates of Celtisdal and Brooklyn which offer one and two-bedroom units ranging in price from R480k to R800k. Carports and pools come standard and Brooklyn residents also have the use of a tennis court and clubhouse.
Thatchfield estate and the suburb of Eldoraigne have also become fashionable. Units on offer are larger at prices ranging between R800k and R2m.
"Some developers have also now realised that there is demand for bachelor style accommodation, and open-plan apartments catering to this market are starting to make an appearance, at prices from around R400k," says Greyling.
However, he advises that those who want to get on to the property ladder do need to be well-prepared financially. "The majority of banks now require a deposit of at least 10% and on top of that there are transfer costs, which means you need to have quite a large amount of cash on hand.
"Banks also need to know that you can afford your bond and they prefer that your instalment does not absorb more than a third of your monthly income. So if you want to purchase a property for R500k, with a monthly bond repayment of R6k, you would need to prove household earnings of about R18k pm to qualify for a home loan."
And then, he says, potential buyers need to budget for rates and taxes as well as sectional title levies. In Centurion, rates range between R300 and R600 a month depending on the area. Levies range from as little as R300 a month to as much as R1k in some older developments.
www.property24.com
An eye for luxury property
Cash-flush Europeans splash out in KwaZulu-Natal as prices fall
BRITISH and German jet-setters are bucking the global credit crunch and splashing out in euros for prime coastal homes and estates that have seen asking prices slashed.
Estate agents in Durban this week said they had recorded a flood of cash sales of between R3-million and R6-million for modest homes and sea-facing apartments since December. Rolling out the red carpet and stuffing buyers with lobster and champagne, the estate agents said other cash-flush Europeans, between the ages of 40 and 55 years, were snapping up homes priced between R1-million and R5-million.
One property that has attracted interest from foreign buyers is a R22-million beachfront penthouse located in Pearl Tides in Umhlanga, KwaZulu-Natal.
Boasting 180-degree ocean views, the 600m² double-level penthouse features three en-suite bedrooms, an open-plan living area and a private rim-flow pool.
Pam Golding Properties’ Elwyn Schenk, whose branch recently sold a four-bedroom apartment in Umhlanga for R11-million, said sales in the suburb were increasing month on month.
Foreign buyers include investors, corporate executives, celebrities, socialites and civil servants eager to cash in on South Africa’s property slump.
In June last year, The Times revealed that Hollywood stars Nicolas Cage, Leonardo DiCaprio, and Jude Law’s former wife, Sadie Frost, were just a few of the international celebrities discreetly hunting for houses in Umhlanga.
At the time, property analysts said international buyers were at last finding Cape Town’s seafront suburbs — where prices range from R5-million for a one-bedroom apartment to R60-million for a beach bungalow — too expensive, and were turning their attention to prime property along the KwaZulu- Natal coast.
Last week PGP said it had recently showcased homes, stretching from Umhlanga to Clifton in the Western Cape, to high-net-worth individuals at the Sud-Afrika Tage 2009 show in Germany.
The show, which attracts exhibitors ranging from tour operators and immigration experts to property brokers of luxury hotels and wine farms, was staged in Mainz, on the outskirts of Frankfurt, in Neuss in the Koln, Dusseldorf region and in Hamburg.
Dina Porteous, who runs PGP’s operations in Margate, said: “Our exhibit attracted a great deal of interest. It is clear that what attracted interested buyers is our abundance of sunshine, coupled with our friendly people and beautiful homes.”
Gaby Moessner, manager of PGP group’s German office, said: “This is a discerning market and overseas buyers are extremely well informed about the South African property market. The advantage of acquiring lock-up-and-go apartments and homes was also a major drawcard.”
He said potential German buyers in general preferred stand-alone homes rather than those in golfing or townhouse developments.
“In Germany space is at a premium so this is a top priority when it comes to buying property in South Africa,” said Moessner.
The Times - Johannesburg, Gauteng, South Africa
BRITISH and German jet-setters are bucking the global credit crunch and splashing out in euros for prime coastal homes and estates that have seen asking prices slashed.
Estate agents in Durban this week said they had recorded a flood of cash sales of between R3-million and R6-million for modest homes and sea-facing apartments since December. Rolling out the red carpet and stuffing buyers with lobster and champagne, the estate agents said other cash-flush Europeans, between the ages of 40 and 55 years, were snapping up homes priced between R1-million and R5-million.
One property that has attracted interest from foreign buyers is a R22-million beachfront penthouse located in Pearl Tides in Umhlanga, KwaZulu-Natal.
Boasting 180-degree ocean views, the 600m² double-level penthouse features three en-suite bedrooms, an open-plan living area and a private rim-flow pool.
Pam Golding Properties’ Elwyn Schenk, whose branch recently sold a four-bedroom apartment in Umhlanga for R11-million, said sales in the suburb were increasing month on month.
Foreign buyers include investors, corporate executives, celebrities, socialites and civil servants eager to cash in on South Africa’s property slump.
In June last year, The Times revealed that Hollywood stars Nicolas Cage, Leonardo DiCaprio, and Jude Law’s former wife, Sadie Frost, were just a few of the international celebrities discreetly hunting for houses in Umhlanga.
At the time, property analysts said international buyers were at last finding Cape Town’s seafront suburbs — where prices range from R5-million for a one-bedroom apartment to R60-million for a beach bungalow — too expensive, and were turning their attention to prime property along the KwaZulu- Natal coast.
Last week PGP said it had recently showcased homes, stretching from Umhlanga to Clifton in the Western Cape, to high-net-worth individuals at the Sud-Afrika Tage 2009 show in Germany.
The show, which attracts exhibitors ranging from tour operators and immigration experts to property brokers of luxury hotels and wine farms, was staged in Mainz, on the outskirts of Frankfurt, in Neuss in the Koln, Dusseldorf region and in Hamburg.
Dina Porteous, who runs PGP’s operations in Margate, said: “Our exhibit attracted a great deal of interest. It is clear that what attracted interested buyers is our abundance of sunshine, coupled with our friendly people and beautiful homes.”
Gaby Moessner, manager of PGP group’s German office, said: “This is a discerning market and overseas buyers are extremely well informed about the South African property market. The advantage of acquiring lock-up-and-go apartments and homes was also a major drawcard.”
He said potential German buyers in general preferred stand-alone homes rather than those in golfing or townhouse developments.
“In Germany space is at a premium so this is a top priority when it comes to buying property in South Africa,” said Moessner.
The Times - Johannesburg, Gauteng, South Africa
Property sector plans post-election lekgotla
South Africa’s fast-changing political environment and its impact on the country’s economic outlook would receive attention at the South African Property Owners Association’s (Sapoa’s) forty-first International Convention and Property Exhibition, to be held in Sandton in early June.
It was particularly keen to understand whether there would be a so-called “shift to the left” and a rise in “antibusiness sentiment”, which would be the theme of an input by Free Market Foundation executive director Leon Louw.
Further, Redefine Income Fund CEO Brian Azizollahoff would debate the question of "business unusual” as part of the convention’s scheduled panel discussion on South Africa’s economic outlook.
This would be preceded by an economic trend analysis presented by economist JP Landman.
Various panels would also discuss other challenges facing the property sector in Africa, as well as the global outlook for the property sector.
Creamer Media's Engineering News - Garden View, South Africa
Terence Creamer
It was particularly keen to understand whether there would be a so-called “shift to the left” and a rise in “antibusiness sentiment”, which would be the theme of an input by Free Market Foundation executive director Leon Louw.
Further, Redefine Income Fund CEO Brian Azizollahoff would debate the question of "business unusual” as part of the convention’s scheduled panel discussion on South Africa’s economic outlook.
This would be preceded by an economic trend analysis presented by economist JP Landman.
Various panels would also discuss other challenges facing the property sector in Africa, as well as the global outlook for the property sector.
Creamer Media's Engineering News - Garden View, South Africa
Terence Creamer
Sunday, April 19, 2009
Timing is the key to property market killing
Auction house boss says strike now for the housing bargain of a lifetime, writes David Pincus
A question doing the rounds, particularly among those who have finance or can raise it, is: does one buy residential property now that prices have fallen so much? They have been declining since the middle of 2008 and dropped 4.2% year-on-year in March, according to mortgage originator ooba, formerly MortgageSA.
It is not an easy decision. Many believe the price of residential property will continue to drop for quite a while, and many others believe the market is close to bottoming.
Rael Levitt of the Alliance Group, which will auction more than 600 properties in April and May, believes the time to buy is now.
He said: “In the last downturn banks couldn’t give away distressed properties. They had to keep them on their books as properties in possession. But unprecedented volumes of houses are now hitting auction floors, and many buyers who have access to financing see the current period as a window of opportunity and are picking up properties at low prices.
“They’re getting high rentals at the moment, which means that while they wait for the market to rise their purchases are turning into great investments.”
But when will the market rise? Levitt believes it may start to bottom late in 2009, “which means there is no better time than now to pick up real estate at lows that haven’t been experienced in South Africa in decades”.
Your trusty calculator may help to provide the answer: if the market turns up in, say, September, it means those who delay purchasing until then will buy for less, but will lose four or five months’ rental.
Levitt will not find estate agents clamouring to join his fan club when he says buying on auction is the way to go.
“You have to look at international trends to see that, in sharp contrast to the snail’s pace of private transactions, property going under the gavel is increasing at an exponential rate,” he says.
But, Levitt concedes, “buying on auction is often misunderstood, and can be daunting”.
From houses to horses: if you are into horse breeding and have been toying with the idea of setting yourself up in the Cape, the ClareMart Auction Group’s sale of the more than 300ha Oaklands Farm near Wellington at midday on Friday should be of interest to you.
It has everything, such as stabling, foaling barns, paddocks, stud facilities, two manager’s houses, as well as river and borehole water.
Phone Andrew Koch on 082-494-9631 to find out how to get to the sale.
Inland dwellers toying with relocating to Jeffreys Bay, or having a holiday home there, could consider the three-bedroom home in Hoepoe Street, Aston Bay, “with lovely views and a self-contained flat with a separate entrance” being auctioned by Colliers International Auctions tomorrow at midday.
It is labelled a bank auction, which may mean it’s a repossessed home, so it may go for a reasonable price.
On Tuesday at 10.30am Park Village Auctions will start disposing of plant and equipment from the liquidated Masingita Mining and Minerals of SA at Jan van der Merwe’s farm, 121km from Last Stop on Brits along the R511.
The equipment includes a dump truck, a front-end loader, a bulldozer, two shovel excavators and a special purpose flammable liquid trailer.
The new car market is taking strain but as prices achieved at auctions show, the used-car market is faring better.
It is bolstered by moneyed folk who buy what they want for less than if they were to buy it new — but not at give-away prices.
Last week Park Village Auctions knocked down a 2007 Lamborghini Gallardo for R2.375-million. That’s more than twice the R1.06-million it got for a four-bedroom (all en-suite) house with four carports, and a face-brick building with nine bedrooms, all en suite, on the same property.
And, as Aucor showed at its used truck sale in Bapsfontein last Tuesday, buyers are prepared to pay for late-model trucks built by reputable manufacturers that have been well maintained.
A 2008 Freightliner Argosy CAT C15-515 6x4 Horse went for R770000 and a 2007 model of the same vehicle went for R610000.
The Times - Johannesburg, Gauteng, South Africa
A question doing the rounds, particularly among those who have finance or can raise it, is: does one buy residential property now that prices have fallen so much? They have been declining since the middle of 2008 and dropped 4.2% year-on-year in March, according to mortgage originator ooba, formerly MortgageSA.
It is not an easy decision. Many believe the price of residential property will continue to drop for quite a while, and many others believe the market is close to bottoming.
Rael Levitt of the Alliance Group, which will auction more than 600 properties in April and May, believes the time to buy is now.
He said: “In the last downturn banks couldn’t give away distressed properties. They had to keep them on their books as properties in possession. But unprecedented volumes of houses are now hitting auction floors, and many buyers who have access to financing see the current period as a window of opportunity and are picking up properties at low prices.
“They’re getting high rentals at the moment, which means that while they wait for the market to rise their purchases are turning into great investments.”
But when will the market rise? Levitt believes it may start to bottom late in 2009, “which means there is no better time than now to pick up real estate at lows that haven’t been experienced in South Africa in decades”.
Your trusty calculator may help to provide the answer: if the market turns up in, say, September, it means those who delay purchasing until then will buy for less, but will lose four or five months’ rental.
Levitt will not find estate agents clamouring to join his fan club when he says buying on auction is the way to go.
“You have to look at international trends to see that, in sharp contrast to the snail’s pace of private transactions, property going under the gavel is increasing at an exponential rate,” he says.
But, Levitt concedes, “buying on auction is often misunderstood, and can be daunting”.
From houses to horses: if you are into horse breeding and have been toying with the idea of setting yourself up in the Cape, the ClareMart Auction Group’s sale of the more than 300ha Oaklands Farm near Wellington at midday on Friday should be of interest to you.
It has everything, such as stabling, foaling barns, paddocks, stud facilities, two manager’s houses, as well as river and borehole water.
Phone Andrew Koch on 082-494-9631 to find out how to get to the sale.
Inland dwellers toying with relocating to Jeffreys Bay, or having a holiday home there, could consider the three-bedroom home in Hoepoe Street, Aston Bay, “with lovely views and a self-contained flat with a separate entrance” being auctioned by Colliers International Auctions tomorrow at midday.
It is labelled a bank auction, which may mean it’s a repossessed home, so it may go for a reasonable price.
On Tuesday at 10.30am Park Village Auctions will start disposing of plant and equipment from the liquidated Masingita Mining and Minerals of SA at Jan van der Merwe’s farm, 121km from Last Stop on Brits along the R511.
The equipment includes a dump truck, a front-end loader, a bulldozer, two shovel excavators and a special purpose flammable liquid trailer.
The new car market is taking strain but as prices achieved at auctions show, the used-car market is faring better.
It is bolstered by moneyed folk who buy what they want for less than if they were to buy it new — but not at give-away prices.
Last week Park Village Auctions knocked down a 2007 Lamborghini Gallardo for R2.375-million. That’s more than twice the R1.06-million it got for a four-bedroom (all en-suite) house with four carports, and a face-brick building with nine bedrooms, all en suite, on the same property.
And, as Aucor showed at its used truck sale in Bapsfontein last Tuesday, buyers are prepared to pay for late-model trucks built by reputable manufacturers that have been well maintained.
A 2008 Freightliner Argosy CAT C15-515 6x4 Horse went for R770000 and a 2007 model of the same vehicle went for R610000.
The Times - Johannesburg, Gauteng, South Africa
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