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.

One thing is certain, apart from the overall inflationary impact, the spiralling cost of fuel directly impacts on the demand for conveniently situated, sectional title property in key economic hubs – close to the workplace, schools and all amenities.

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.

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.

Wednesday, 28 March 2018 15:39

Ooba welcomes Reserve Bank interest rate cut

ooba, South Africa’s biggest bond originator, welcomes the interest rate cut of 0.25% announced by the South African Reserve Bank this afternoon.

Third quarter statistics (Q3 2017) from ooba, South Africa’s leading bond originator, show nominal positive growth of 3.3% on Q3 2016 in the average House Purchase Price.

Second quarter statistics (Q2 2017) from ooba, South Africa’s leading bond originator, show nominal positive growth year-on-year of 3.6% in the Average House Purchase Price.

South Africa’s largest bond originator, ooba, has released its property statistics for the first quarter of 2017 (Q1 2017).

2017 looks to be a challenging year for the South African property market, as quarterly statistics released by ooba, South Africa’s largest bond originator, point to ongoing affordability constraints for South African consumers.

Holding the repo rate steady at today’s Monetary Policy Committee meeting today (24 November 2016) was the right decision and one which is expected to help boost consumer confidence at a time of the year when many are planning and making career and lifestyle decisions for the year ahead, says Dr Andrew Golding, CE of the Pam Golding Property group.

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