What’s behind SA’s housing boom?
Despite higher interest rates and surging fuel and food prices, housing activity remains surprisingly resilient — for now at least
04 August 2022 - 05:00
As counterintuitive as it may seem, there has been a resurgence in housing activity in recent months.
The general expectation among industry players was that rapidly rising interest rates and living costs would bring an abrupt end to SA’s two-year housing upswing. This hasn’t happened yet (though the recent steeper-than-expected 75 basis-point rate hike — bringing the prime lending rate to 9%, up from 7% in November — may yet put a brake on homebuyer exuberance)...
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