After stabilising at +3.01% in Q4 2023, national house price inflation in South Africa has inched higher in Q1 2024, rising to +3.1% in March 2024, with anticipated lower interest rates later this year and stronger economic growth likely to boost both market activity and house price growth in late-2024, according to the latest Pam Golding Properties Residential Property Index.

Motivated by the prevailing, historically low interest rates and further incentivised by banks’ lending appetite and sound purchasing opportunities, South African first-time buyers across the country continue to capitalise on the favourable buying environment and demonstrate confidence in the residential property market by acquiring their own homes, says Dr Andrew Golding, chief executive of the Pam Golding Property group.

Since June this year, residential property sales have escalated in the Eastern Cape hubs of Port Elizabeth and East London, and encouragingly, with brisk activity across all price ranges, reports Pam Golding Properties.

The residential property market in the Eastern Cape has remained surprisingly resilient during the unprecedented times the economy currently faces, says Pam Golding Properties.

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.

Bellevue East, located on the border of the upmarket suburbs of Observatory and Upper Houghton, emerged as one of the top performing suburbs in Johannesburg in terms of property price growth.

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.

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.

With much still riding on the outcome of the ANC elective conference later this month (16-20 December 2017) which, coupled with the Budget Speech in February next year (2018), will impact on business and consumer confidence and market sentiment in general.

It is relatively straightforward to make a good property investment when the economy and housing market are booming.