Herschel Jawitz, CEO of Jawitz Properties, says that today’s rate increase will have a marginal effect on the market.

The SARB’s Monetary Policy Committee is set to increase the repo rate this week, according to Finder.com’s SARB Repo Rate Forecast Report. 

The South African Reserve Bank (SARB) is set to hold the repo rate at the 18-20 May meeting, according to a unanimous vote by 21 economists on Finder’s repo rate forecast report.  

Herschel Jawitz, CEO of Jawitz Properties, believes that from a consumer point of view the 2020 Budget is significantly better than that of 2019, especially against what was expected.

Herschel Jawitz has cautiously welcomed President Ramaphosa’s State of the Nation address, which addressed most of the critical issues facing the country but not necessarily in enough detail.

Herschel Jawitz, CEO of Jawitz Properties, Chris Renecle, MD of Renprop and Dr. Andrew Golding, chief executive of the Pam Golding Property group, do all agree that the residential market is in for an interesting time in 2019 in South Africa.

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The current residential market continues to reflect the state-of-the-nation and the economy, both in terms of price growth and the level of consumer and business confidence.

The residential market up until 2015 was essentially a sellers’ market driven by low interest rates, strong demand from buyers and a shortage of stock.

Adjustments to transfer duty on property in the 2016 national Budget are to impact only the upper end of the residential property market.