There are, currently, many positive signs for the future of the property market. Tony Clark, MD of Rawson Properties, believes that interest rates in South Africa are set to be cut even further. Clark adds that an interest rate cut of 0.5% will benefit the property market, perhaps far more than most people realise. Currently, […]
The South African Reserve Bank cut interest rates by 0.5% last month (sept) to bring the prime rate down to 9.5%.
The cut was welcomed by many consumers and homeowners. A drop of 0.5% could translate to a huge saving over the full term of your bond. While, in the short term, it means more consumers are now better able to manage their monthly debt commitments.
Here's how the most recent rate cut will affect your pocket...
According to the FNB Home Loans, a house worth R250k in 2000 would now be worth over R750k. Watch this short video interview about the May 2010 FNB House Price Index.
Prices of smaller-sized houses are rocketing at the moment, that’s according to the ABSA House Price Index. Take a closer look at why these types of houses make the best property investments. Data from ABSA Home Loans.
According to FNB Home Loans, House Prices are currently growing at 10.1% on average. This is the first time in two years that year-on-year growth reached double figures. The average house price is now estimated to be around R790 000.
The FNB Residential Property Barometer is a quarterly report produced by FNB Home Loans, that draws conclusions about the future of the property market from a survey of various estate agency groups in South Africa.
Now is the time to get into the property market, or to invest further into residential property if you already own a home. Besides being a basic need, property values are growing fast and the pace is expected to increase even further!