4 property trends to watch in right now
Recent data from property group Ooba shows that there are significant shifts within the residential property market in light of South Africa’s unique economic outlook.
This, coupled with the banks’ willingness to continue to approve home loans at attractive terms, makes investing in residential property an attractive proposition – especially for first-time homebuyers, Dyer added.Ooba reported that the average purchase price of a home has increased when compared to the year before.
“The work-from-home phenomenon coupled with historically low-interest rates throughout the pandemic saw many ‘scaling up’ as home loan repayments became more affordable,” said Dyer. Ooba reported that approval rates for 100% loan applications remained elevated at 84.1% in September 2022; however, demand for 100% loans decreased from 60.8% in August 2022 to 56.6% in September 2022.Dyer said that investment and buy-to-let properties had seen a sharp uptick – recording year-on-year growth of almost 30% in Q3 ’22.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Interest Rates Skyrocket to 7% - South African News Briefs - November 24, 2022
Read more »
New coins for South Africa in 2023 – including big design changesThe South African Reserve Bank has revealed the new designs for South Africa’s circulation coins.
Read more »
4 property trends to watch in right nowThe latest data from property group Ooba shows that there are significant shifts within the residential property market in light of South Africa’s unique economic outlook.
Read more »
WATCH: South African Reserve Bank interest rate decisionThe South African Reserve Bank is widely expected to raise interest rates.
Read more »
South African Transformers fans can watch EarthSpark on Nickelodeon - HypertextSouth African Transformers fans can watch EarthSpark on Nickelodeon
Read more »
Banks warn to watch out for these banking scams in South AfricaBanks are alerting clients to stay ‘cyber-safe’ when doing transactions online.
Read more »