Residential property rebound?
A surprise rally in home loan applications suggests housing activity could recover sooner rather than later
02 July 2020 - 05:00
SA’s biggest mortgage originators have seen a sharp recovery in home loan applications in June, with buyers no doubt scrambling to cash in on cheap borrowing costs and softer house prices.
Home loan application volumes submitted to the banks via ooba are up a hefty 25% year on year since the beginning of June, when real estate agents were allowed to trade again under lockdown level 3. June volumes are also 27% ahead of March’s pre-Covid levels, says Kay Geldenhuys, head of sales fulfilment at ooba...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.