The South African Reserve Bank (Sarb) announcement to cut its repo rate by another 50 basis points to 3.75% on Thursday, taking the prime lending rate to 7.25%, makes it far more affordable for buyers to invest in real estate during these uncertain times. The bank’s repo rate cuts this year totals 275 basis points or 2.75%, as it slashes rates during Covid-19 economic pressures.
Topics: Harcourts South Africa, repo rate cut, Buyers market, South African Markets, COVID-19
In recent years the commission of estate agents has been a point of contention, especially within industry circles. In the past few months it has certainly risen to the fore again as a product of economic circumstances which has influenced the demand and value of property in certain key markets, like the major metros and surrounding areas.
Topics: Harcourts South Africa, Harcourts Academy, Real Estate Agents, Buyers market, estate agent comission
The average time it takes to sell a home indicates the market climate. It is very important a seller understands which market they are in and the average time it is takes to sell a property. Ask your sales consultant about the current market in your location.
There are three types of market climates:
Topics: Residential, Buyers and Sellers, Buyers market, Sellers market
There is no sugar-coating the fact that if you are a low-income earner, buying an investment property will require a lot of discipline and sacrifice.
There are a number of challenges to overcome, but although income level is a factor when it comes to borrowing money for investment, there are a lot of other aspects at play, many within your control.
Topics: Buying, Property Investment, Buyers market
Statistics released by bond originator, ooba, in their latest "oobarometer" for the first quarter of 2018, reflecting banks increased willingness to lend money is fantastic news for the real estate market in South Africa.
According to ooba in the first quarter of 2018 they recorded the highest home loan approval rate in over ten years since the National Credit Act was implemented. With an increase of 4.9% compared to the first quarter of 2017.
Topics: Richard Gray, Harcourts South Africa, Property Markets, Buyers market, Ooba
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