Buying or selling property on the East Rand can seem a little daunting at times, especially with so many things to keep track of, however, by checking out the news listings on the Private Property website, you can stay properly informed on all matters relating to the market.
One such matter is the interest rate, and after having to endure an increase in 2018, there was some good news at the start of the year with the decision by the Reserve Bank Monetary Policy Committee to keep the rate on hold, instead of pushing ahead with another increase. This means that the repo rate will stay at 6.75% for now (base home loan rate at 10.25%).
This decision was smiled upon by experts in the industry and Private Property touched base with the Seeff Property Group in January to chat about the matter. Seeff were optimistic about the year ahead as things stand, saying that 2019 could be the ‘year of great expectation’.
This is hard to believe after having to endure so many issues in the previous 365 day, but Seeff say that the rand has stabilised a little, and with fuel coming down and Moody’s having not downgraded the credit status, things can progress as long as there are no more major shocks on the cards. They feel that as 2019 progresses, things will start to improve.
They also touched on performances in the market at present, with the sector boasting homes valued between R1m and R3m, depending on the area, continuing to move along as usual. Of course, well-priced properties were best placed to move quickly, and their advice is to pair up with a local property expert that understands all of the trends that apply to your specific neighbourhood.
