Dr Andrew Golding comments on repo rate

As anticipated, and with an eye on rising inflation, the Monetary Policy Committee left the repo rate unchanged despite the prevailing sluggish economy, says Dr Andrew Golding, CE of the Pam Golding Property group.  

“In addition to increasing fuel and food prices, the much-debated proposals in regard to significant ongoing electricity tariff increases are stifling economic sentiment in general,” he says.

“Despite these influences, the housing market in South Africa continues to be resilient characterised by increased activity levels in all sectors of the market.

“As we approach the year-end holiday season, this is generally a time when the residential property market experiences increased activity for a variety of reasons. These include, among others, those relocating on business or in pursuit of a different, more desirable lifestyle, those looking to acquire a property to retire to now or in the future, while others are looking for a destination in close proximity to learning institutions for the benefit of their children. Some buyers seek a leisure or getaway home where they can enjoy quality family time on weekends and holidays, while others are endeavouring to purchase a sound property investment for future security. There is a natural cycle of people who are either upgrading or downsizing as their needs and circumstances in life change.

“From a Pam Golding Properties perspective we are encouraged by the increasing interest and enquiries received in regard to the residential property market, from a broad cross section of buyers across the full spectrum of price ranges. Developers too are demonstrating confidence in the market, and we are achieving sales in developments in various regions in the country.

Serious sellers are taking note of the current market conditions, where only properties realistically priced at market-related prices are selling, while buyers are taking note of the requirement for obtaining mortgages and the need to be able to put down a deposit and cover transfer costs. Looking at the year ahead we remain cautiously optimistic that 2013 will continue to see moderate growth in the property market, with interest rates remaining at relatively low levels,” adds Dr Golding.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Jun 2018
      The rental market in many Johannesburg suburbs has shown encouraging signs of revival this year but it remains a competitive market and landlords who best cater to their market’s needs will reap the healthiest returns.
    • 22 Jun 2018
      Home design is constantly evolving to reflect the changing needs of society. We look at some of the ways in which our use of space is changing.
    • 22 Jun 2018
      While estate agents can help the seller with correctly pricing the property and marketing a property to the right pool of potential buyers, at the end of the day it’s the impression that the property will make on buyers that counts the most.
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us