Finally, an interest rate cut for SA homeowners and buyers The Monetary Policy Committee (MPC) announced today that interest rates will be lowered by 25 basis points. The prime lending rate therefore changes to 10%, and the repo rate drops to 6.5%. “With a 3.2% decline in our GDP for the first quarter of 2019…
Court papers shine light on the health of SA’s residential market The country has eight million properties worth more than R5 trillion. Court papers filed in the South Gauteng High Court by two of the major mortgage banks – Standard Bank and Absa – provide a fascinating insight into the health of SA’s property sector.…
Why you can be optimistic about SA’s property market If one were to believe everything you read, or take to heart everything the analytics and reports suggest, you may end up feeling rather gloomy, particularly pertaining to the performance of the property market over the past few months. Recently the FNB Property Barometer reported that…
SARB rate decision good news for property market – expert The unchanged repo rate is good news for consumers and property owners, especially those with mortgage bonds, said a property expert. Stuart Manning, CEO of the Seeff Property Group commented on the SA Reserve Bank’s (SARB) Monetary Policy Committee (MPC) decision on Thursday to keep…
Property market outlook for SA buyers and investors As South Africans reel from the news of a 2.2% GDP decline in the first quarter of 2018, property experts remain optimistic about forecasts for the remainder of the year. The property market, which has been experiencing some lethargy since early 2017, is not predicted to see…
Lending to home buyers still on the rise The average size of bond granted in SA has grown 7.7% in the past 12 months to R934 000, according to bond originator BetterBond. Chief executive Rudi Botha says the company’s latest statistics also show that there has been an 11% increase in the total value of…
Land expropriation without compensation, no need to panic South Africa continues to see sensational reports on the question of land expropriation without compensation and especially those around land grabs which seem to be rearing its head in various areas. Stuart Manning, CEO for the Seeff Property Group however, says that the question of land expropriation…