South Africa’s housing market has largely dodged the Covid bullet and emerged as a bright spot in the economy.
But industry players are warning that South Africa’s housing market might cool off, as the Reserve Bank is expected to increase interest rates further over the coming months to tame rising consumer inflation. Rising interest rates will have an impact on the housing market, according to experts. But the degree of that impact and when it will be felt the most is anyone’s guess.
But after adjusting for inflation or in real terms, a worrying house price story emerges. House prices, after accounting for inflation, have fallen by about 2% so far in 2022 owing to the sharp rise in consumer inflation to 5.7%. Rode’s Lamprecht says it is “highly likely” that house prices in real terms will decline in 2022, especially if inflation rises persistently.Industry players argue that home-buying patterns remain strong considering that banks are still prepared to dish out mortgages.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: SATodayNews - 🏆 44. / 51 Read more »
POLITICAL WEEK AHEAD: Anxious eye on rising Covid-19 infectionsThe World Health Organization is worried about the growing number of cases but does not back reintroduction of restrictions I am super excited right now, I can now pay my bills and take good care of my family.. Thank you for bringing happiness to my home with just $5000 i got $50,000 in 7days Williamchurch07
Source: BDliveSA - 🏆 12. / 63 Read more »
POLITICAL WEEK AHEAD: Anxious eye on rising Covid-19 infectionsThe World Health Organization is worried about the growing number of cases but does not back reintroduction of restrictions
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: ewnupdates - 🏆 30. / 53 Read more »
Source: BusinessTechSA - 🏆 24. / 61 Read more »
Source: mybroadband - 🏆 11. / 67 Read more »