Home, sweet new home
Even as rates rise, there are still many buyers, and banks are making it easier for them
Housing activity remains unexpectedly buoyant, despite four consecutive interest rate hikes since November. The hikes took SA’s prime lending rate from 7% to 8.25% and added a monthly extra bond repayment of about R770 to every R1m owed to the bank (at prime over 20 years).
Latest deeds office figures show that the number of transactions in the first four months of 2022 is just below 99,000, only about 3% lower than the record of 101,249 sales recorded from January to April last year...