Just Property – COVID19 – Repo rate decrease welcomed by the property sector

Just Property – COVID19 – Repo rate decrease welcomed by the property sector: South Africa, March, Friday, 2020 – On 19 March 2020, the Monetary Policy Committee announced a repo rate cut of 100 basis points, taking the repo rate to 5.25% per annum. This follows January’s 25 basis point cut. Paul Stevens, CEO of Just Property, welcomed the announcement noting that the 1% cut translates into a reduction in the mortgage rate (or prime lending rate) from 9.75 percent to 8.75 percent, which will bring further relief to homeowners with bonds … [Read more...]

KZN Property Market Outperforms

KZN Property Market Outperforms: South Africa, March 2020 – According to Lightstone Property’s most recent Property Indices (March 2020) coastal property inflation is outperforming non-coastal properties, with Ethekwini municipality’s house prices being the second most buoyant of those tracked. The increase of 3.3% is higher than Lightstone’s forecast last year when the property data analysts noted that median prices of freehold and sectional title properties in KwaZulu-Natal had strengthened. Chris Schoombee of Just Property Zululand … [Read more...]

For Property Investors it Remains a Buyers Market

For Property Investors it Remains a Buyers Market: South Africa, March 2020 – Lightstone Property recently released their Residential Property Indices for March 2020. This is based on analysis of data from official sources such as the Deeds Office registry and Surveyor General regarding residential property transfers to mine data pertaining to properties that have “repeatedly transacted in a certain time period and are less influenced by the mix of transacting properties”. According to their analysis, the current national house price … [Read more...]

Trends in SA’s residential property market – Vision 2020

Trends in SA’s residential property market – Vision 2020: I0hannesburg, 24 January 2020 – On the back of a year of very slow economic growth, and with the threat in a Moody’s downgrade early this year, the outlook for South Africa’s residential property market looks flat and very slow. 2020 will start off with a property market which is oversupplied in most areas. Price growth is expected to remain flat and sellers will have to keep their asking prices market-related or risk not selling. Households are under immense financial pressure and … [Read more...]