Banks are showing an increased appetite to lend according to first quarter (Q1 2018) property statistics recently released by home loan originator Ooba.
“In Q1 2018 we recorded the highest home loan approval rate in the over ten years since the National Credit Act was implemented,” said Rhys Dyer, CEO of Ooba. The group’s total Approval Rate of 76.9% showed an increase of 4.9% over the Q1 2017 approval rate.
Topics: Richard Gray, Property Markets, South African Homeloans
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
A lot has been said about the increase in VAT from 14% to 15% as announced by the Finance Minister in his recent budget speech. There are certainly many sectors that are going to feel the shift in tax, however it might be the man and woman on the street who will be hit hardest.
Topics: Richard Gray, Harcourts South Africa, Financial Year End, Property Markets, Vat Increase
The property market is often overshadowed by the investment intentions of sellers and buyers, forgetting the emotional aspect of purchasing a home for you and your family. The nostalgia many of us carry with us about our childhood home is often a major factor when buyers gravitate toward a suburb or particular home.
Topics: Harcourts South Africa, Tips for Agents, Property Markets
Former President Jacob Zuma's resignation yesterday evening propelled investor confidence back into positive territory. The Rand has already gained a lot of ground in the past few weeks and as it continues to strengthen it might relieve some of the price pressure the South African consumer has been experiencing.
Topics: Richard Gray, Harcourts South Africa, Property Markets, Jacob Zuma, Zuma Resignation
Many of us closed off the year anxiously monitoring the ruling party's executive committee election. For the large part it's important for us to show an active interest in the direction our country is moving in, in the other sense we desire a Government that is transparent and has the best interests of its people at heart. The economy certainly experienced quite a number of dramatic shifts during 2017 and some markets were effected, be it positively or negatively. Harcourts for one experienced defiant growth, showing that many South Africans remain active in an uncertain economy.
Topics: Property Markets
Today's reports that fuel prices are expected to rise even further in October, largely due to the sharp rise in crude oil price, will definitely have an effect on the property market.
Sources are saying the department of energy published information today that the price of gasoline 93 (ULP & LRP) in Gauteng might rise by 26 cents per liter in the first week of October with the price of diesel expected to rise by 37 cents per liter.
Topics: Harcourts South Africa, Finance, Petrol Price, Rental Market, Property Markets
The recent announcement by Eskom chairman Ben Ngubane that South Africans can expect power cuts this winter unless the National Treasury urgently signs purchase agreements so Eskom can build up its coal reserves once again highlights the demand for homes powered by green energy.
Topics: Loadshedding, Property Markets