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.

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