In the midst of a rapidly contracting economy in limbo under an extended lockdown, today’s (21 May 2020) announcement of a further reduction of 50 bps in the repo rate will have a positive effect on the residential property market, albeit deferred until potential buyers can begin transacting in earnest, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

“In an unexpected but welcome announcement, the Monetary Policy Committee today (14 April 2020) announced a further 100bps cut in the repo rate, reducing it to just 4.25%.

Room for further interest rate cuts, says Dr Andrew Golding, CE of the Pam Golding Property group.

Against the backdrop of the unprecedented times we find ourselves in, today’s (19 March 2020) decision by the Monetary Policy Committee to reduce the repo rate by 100bps is a critical step towards financial survival.

Apart from the tax reprieve announced by Finance Minister Tito Mboweni in the National Budget, with no major tax increases and even personal income tax relief across the board.

Lisbon, Sydney and Moscow set to lead residential price growth in 2020.

Against the backdrop of a persistently sluggish economy, subdued market confidence and lower-than expected inflation.

Signs that the residential property market is beginning to stabilise.

Sentiment is a key driver of investor confidence and the residential property market is no different in this regard.

A fervent desire to reduce both monthly costs and traffic-congested travel times while residing in conveniently situated nodes has given rise to the ongoing success of the live-work-play lifestyle in South Africa.