The repo rate will increase by 25 basis points to 3.75%, South African Reserve Bank (Sarb) governor Lesetja Kganyago announced explained today, which means that the prime lending rate of commercial banks will increase to 7.25%.
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The repo rate will increase by 25 basis points to 3.75%, South African Reserve Bank (Sarb) governor Lesetja Kganyago announced explained today, which means that the prime lending rate of commercial banks will increase to 7.25%.
Topics: Richard Gray, Harcourts South Africa, Interest Rates, Property Markets, Buying and Selling
It is difficult to address the effects of the COVID-19 pandemic on the economy when so many people experienced personal loss and trauma during this time. But then you think about it for a minute and consider the impact the virus has had on our livelihoods and business operations as well, and then only does the entire picture come into view. With that being said, why then has the real estate market not only been able to stay buoyant but, in contradiction to earlier predictions, show immense activity and growth during the past year.
Topics: Selling, Richard Gray, Harcourts South Africa, Interest Rates, COVID-19
South African Residential rental market is currently experiencing the effects of the COVID-19 economic situation. The latest PayProp Rental Index for Q2 2020 shows the first indications brought on by the pandemic and subsequent lockdown. With unfavourable effects on rental levels, growth and non-payments in the country, as well as widespread household financial pressure – the rental market is likely to follow this trend into the near future.
Topics: Richard Gray, Harcourts South Africa, Interest Rates, Rental Market, COVID-19
Harcourts South Africa welcomes the announcement by The South African Reserve Bank (Sarb) to cut interest rates by a further 25 basis points, creating a rare opportunity for real estate investors and buyers in general. This takes the total cut in 2020 to 300 basis points, lowering the repo rate to 3.5% and the prime lending rate to 7%. The lowest rate implemented by the Bank in almost 47 years.
Topics: Richard Gray, Harcourts South Africa, Interest Rates, Buyers and Sellers, COVID-19
Harcourts South Africa welcomes the announcement by the South African Reserve Bank that interest rates will be cut by 25 basis points. This is the first easing in policy in over a year and in a time when many South Africans are feeling the pressure this comes as welcomed relief. Especially considering that many economists are predicting another cut later in the year.
Topics: Richard Gray, Harcourts South Africa, Interest Rates, South African Markets
Topics: Harcourts South Africa, Interest Rates, Home Loan Advice, Harcourts Real Estate, First time homeowner
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