Buying a new home continues to become more affordable as weakening housing demand results in ongoing negative real price growth (after inflation) in the residential property market.

2018 was a challenging year for the South African property market, with negative real price growth in the residential property market and slowing market activity.

Monday, 10 December 2018 23:01

Buying a house during recession

It was recently announced that South Africa is in a technical recession, and although it sounds daunting to buy a house during a recession, it might be the perfect time to do so.

Third quarter (Q3 18) statistics released by ooba, South Africa’s leading home loan originator, show that year-on-year from Q3 17 to Q3 18, the growth in the Average Purchase Price effectively remained static with a 0.1% increase. This continues the trend of negative real price growth (growth less inflation) in the residential property market.

Uptick in household credit and mortgage balances growth in the first half of 2018, while home loan repayment patterns were divergent across income categories in the twelve months up to mid-2018

Property statistics for the second quarter (Q2 2018) released by ooba, South Africa’s leading home loan originator, indicate that banks remain positive about the home loan lending environment despite continuing negative real growth in average property prices nationally.

Banks are showing an increased appetite to lend according to first quarter (Q1 2018) property statistics recently released by ooba, South Africa’s leading home loan originator.

When times are tough and consumer budgets are under pressure we hear a lot about mortgage defaults and home repossessions, but failing to pay your home loan instalments is actually only one of several ways you can cause your home to be attached and auctioned off?

Tuesday, 12 September 2017 12:55

When is the right time to buy?

When to buy is arguably the most common question buyers ask.

Low growth in household credit and mortgage balances in the first half of 2017, with home loan repayments showing homeowner financial strain.

Page 1 of 2
" "

Most Popular

Equites Property Fund to list on A2X

Jun 25, 2019
ANDREA TARVENA
Equites Property Fund Limited has been approved for a secondary listing on A2X Markets…

McCormick Property Development Celebrates the Opening of Katale Square

Jun 29, 2019
 JASON MCCORMICK
McCormick Property Development celebrated the launch of its 66th development with the…

New standard bank deal will make it easier for self-employed professionals to qualify for the mortgage bonds

Jul 03, 2019
 STANDARD BANK
Ever since the tightening of credit rulings in the South African economy which followed…

Hyprop reduces exposure to Africa and provides pre-close update

Jun 29, 2019
MORNE WILKEN
JSE specialist shopping centre REIT, Hyprop, today announced progress on its strategy…

Twin City to develop new R230m mall in Vryburg, North West

Jul 10, 2019
 TWIN CITY
The North West agricultural town of Vryburg is set to get its first enclosed shopping…

Please publish modules in offcanvas position.