Fourth quarter (Q4 19) statistics released by ooba, South Africa’s leading home loan comparison service, show minimal growth of 1.8% in the Average House Price year-on-year from Q4 18 to Q4 19. The Average Purchase Price of First-time Buyers performed marginally better, up 2.5% for the same period.

Housing demand has continued to gain momentum since the start of the year and in the third quarter, the number of applications for home loans was at its highest level in more than three years, according to the latest statistics from BetterBond, SA’s foremost bond originator.

The value of outstanding credit balances in the South African household sector increased by 5,9% year-on-year (y/y) to R1 653,3 billion up to the end of February 2019 (3,9% y/y at end-February 2018), with growth in total credit balances as well as secured and unsecured credit balances remaining unchanged from end-January. 

The Monetary Policy Committee (MPC) of the Reserve Bank has once again decided to leave South Africa’s repo rate unchanged at 6,75% and prime interest rate the same at 10,25%.

With inflation currently below the mid-point of the Reserve Bank’s inflation target and economic growth remaining sluggish, the Monetary Policy Committee kept the repo rate steady at 6.75%, as expected.

South Africa is likely to exit its technical recession in the third quarter, the Bureau of Economic Research (BER) said on Tuesday.

Thursday, 24 May 2018 13:19

Repo rate unchanged at 6.5%

The Reserve Bank has decided to keep the repo rate unchanged at 6.5% per annum, Governor Lesetja Kganyago said on Thursday.

Rebosa welcomes request for probe into Estate Agency Affairs Board

As expected, the Monetary Policy Committee kept the repo rate stable, with analysts and market commentators ahead of today’s announcement (24 May 2018) pointing to a more hawkish stance amid a weaker rand.

Friday, 19 January 2018 12:04

No change in repo rate

The repurchase rate will remain unchanged at 6.75% per annum, Reserve Bank Governor Lesetja Kganyago has announced.

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