First time home buyers are taking out bonds at a rate higher than repeat buyers, as lower interest rates aid them.
More South Africans are buying homes for the first time, as indicated by an uptick over the past four years in the number of properties transferred to new buyers compared to repeat buyers, says Mike Lehabe, head of financial services at Lightstone.
Lehabe said that the historically low-interest rates which the SARB introduced in response to the economic fallout of Covid-19 encouraged buyers into the market. “The 2021 jump in numbers reflects the pent-up demand playing out as lockdown conditions eased,” said Lehabe. Lightstone reported that the volume of bonded transfers for first-time and repeat buyers has increased since 2015.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Muted and mild April Fool's Day loses its spark for battered South AfricansCorruption-weary, battered by a pandemic and struggling through load-shedding and unemployment, South Africans appear to have marked April Fool’s Day in muted fashion this year.
Read more »
The dating game: survey shows how and why South Africans use Tinder | Citypress
Read more »
South Africans have low trust in their police. Here’s whyRecently, Defence Minister Thandi Modise lamented the low level of public trust in law enforcement agencies in the country.
Read more »
SEA CHANGE: Plastic waste polluting South Africa’s oceans needs answers from bright young mindsEco-volunteers group Strandloper Project is running a competition for engineers and designers to come up with ways of reducing the amount of plastic pollution that finds its way into the sea.
Read more »
Vodacom South Africa MD to step downVodacom South Africa MD Balesh Sharma is leaving the mobile operator after less than two years in the role to pursue a new opportunity in Europe.
Read more »
Petrol tax cuts for South AfricaFinance minister Enoch Godongwana has announced the South African government will introduce emergency measures to help reduce the pain motorists are set to feel at the pumps next month.
Read more »