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The International Monetary Fund (IMF) has raised South Africa’s growth forecast to 1% this year.
Residential building activity remained under pressure in both the planning and construction phases of the South African market for new housing in the first quarter of 2017.
Our 1st quarter 2017 Gauteng Sub-Regional House Price Indices show mediocrity in terms of house price performance to be widespread.
FNB area value band house price index performances.
South Africa’s largest bond originator, ooba, has released its property statistics for the first quarter of 2017 (Q1 2017).
In April 2017, the FNB House Price Index showed some further acceleration in year-on-year growth compared with the March rate, after having gone through a “dip” late in 2016.
The downgrading of South Africa's debt to junk status and the firing of Pravin Gordhan as finance minister mean that interest rates will be on hold until 2020 at least, a poll of economists predicted yesterday.
The Reserve Bank has decided to keep the repo rate unchanged at 7% per annum, Reserve Bank Governor Lesetja Kganyago said on Thursday.
“We welcome today’s decision by the Reserve Bank’s Monetary Policy Committee to maintain the repo rate at 7% as it provides some relief to consumers dealing with rising food inflation and taxes”, says Bruce Swain, CEO of Leapfrog Property Group.
The first month of 2017 saw the value of outstanding credit balances in the South African household sector rising by a much subdued 0,6% year-on-year (y/y) to R1 494,2 billion, after growth of 0,7% y/y at end-2016.