Although the interest rate is up by 25bps to 6.75% (10.25% for home loans), this was expected and not all bad news. Even at this rate, it is still at some of the best levels in decades.
Positives include an anticipated fuel price decrease and the rand strengthening against the US Dollar and Euro. President Ramaphosa's recent investment successes and the ratings agencies keeping the outlook stable are all positives.
While the market is set to remain flat for the first half of 2019 until after the May General Election, it remains business as usual. The onset of summer and new year is expected to bring renewed buyer interest, but prices remain under pressure, as confirmed by the FNB Property Barometer.
If you are serious about selling, then now is a good time, but talk to us for the best advice on how to price your property for this market.
Image: Consumer Financial Protection Bureau