Property News

The affordable housing market in South Africa is limited, making it incredibly difficult for many to enter the real estate market. While experts in the industry agree that the current market presents the perfect opportunity for first-time buyers, the reality is that the majority are simply unable to afford the high entry costs.

While the Home Buying Market is buoyant, still being driven by sharply lower interest rates this year, the September CPI (Consumer Price Index) inflation numbers continue to point to a battling Residential Rental Market, hampered by a tenant population financially pressured by a deep recession, and “outcompeted” by the home owner market due to a dramatic reduction in interest rates earlier this year.

Increases have been attributed to low interest rates and pent-up buyer demand, but not everyone is experiencing this high and it could very well be due to the marketing techniques your agent is employing. And with the festive season around the corner, many sellers are keen to get their homes sold before the end of the year.