Covid-19 Lockdown Payment Holidays being offered by SA’s big banks

Covid-19 Lockdown Payment Holidays being offered by SA’s big banks Payment holidays are simply a freeze on commitments such as loans and bonds for a certain period. Customers who may be in a tight financial spot can opt-in or just simply carry on paying their debts as usual. JOHANNESBURG – With the economic realities of …

Bond Gallery welcomes the interest rate cut of 1%

Bond Gallery welcomes the interest rate cut of 1.00% announced by the South African Reserve Bank. The announcement will come as good news to both existing home owners and new home buyers. The current low interest rate of 8.75% favours homebuyers who want to take advantage of the banks’ high approval rates to invest in …

IMPACT OF THE CORONAVIRUS ON THE PROPERTY MARKET

IMPACT OF THE CORONAVIRUS ON THE PROPERTY MARKET The question around the pandemic’s impact on the property market is an important one, as the real estate market is keenly affected by the overall health of the economy, consumer confidence, and levels of employment in particular, which means that major disruptions in other sectors will have …

FNB Residential Property Barometer-Jan 2020 (Estate Agents Survey 4Q19)

FNB Estate Agents* Survey reveals improvement in 4Q19 market activity The FNB HPI kicked off the year on a low gear and registered 3.3% y/y in January, from 3.5% y/y in December. The underlying housing market activity remains broadly stable, despite the apparent weakening of households’ balance sheets. The 4Q19 FNB Estate Agents Survey revealed …

SA’s housing market hits a surprise upswing, after ABSA announcement

Industry players have reported a surprise uptick in housing activity in recent weeks, suggesting the market has finally bottomed out Credit: Business Live Financial Mail An improvement in property market conditions may sound counter intuitive, given the depressed state of the economy, rising unemployment and weak household balance sheets. But it seems home buying sentiment …

Residential Property Barometer summary

SA residential property market review and outlook Muted house price growth in 2019; demand-supply gap narrowing The FNB HPI was unchanged at 3.5% y/y in December, taking the average annual house price growth to 3.6% y/y for 2019, from 3.8% y/y in 2018. This is marginally above our forecast of an average annual growth of …

Cost Inclusive Home Loans

With ABSA’s announcement of their cost inclusive product for Young Professionals, we now have 3 of the 4 major banks, namely ABSA, Standard Bank and FNB who are willing to finance the property transfer and bond registration costs for homebuyers who qualify for their respective cost inclusive product.

FNB House price relatively flat in March

The FNB HPI was relatively flat at 3.8% y/y in March, versus 3.7% y/y in the previous month. This takes the first quarter nominal house price growth to 3.8% y/y, slightly softer compared to 4Q18 (4.1%), but much stronger compared to 1Q18 (3.2%). This means that house price appreciation still languishes below inflation, reflective of …

Updated economic, household sector and property market trends

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Banks’ mortgage appetite rebounds

Banks’ mortgage appetite rebounds Exposure to home loans is expected to surpass R1-trillion as competition in the mortgage lending market hots up. 21 FEBRUARY 2019 – JOAN MULLER – Financial Mail Coronation Road in the suburb of Sandhurst in Johannesburg. Picture: SUNDAY TIMES There has been an uptick in mortgage lending in recent months, which …