Experts agree with decision on repo rate

It is essential to stay informed on all important matters that affect the property market if you are looking at property in Bedfordview, and a simple way to stay informed is to visit the Private Property website on a regular basis. Not only can you find listings of property options around the country, but they also offer regular insight from industry professionals on all matters relating to the market.

In a post in January, they looked at the decision by the Reserve Bank Monetary Policy Committee to keep the repo rate as it is – 6.75% (base home loan rate at 10.25%). When talking to the Seeff Property Group about the decision, the experts felt that it was the right move, and also looked ahead in a positive manner, saying that 2019 is being considered as the ‘year of great expectation’.

Explaining why they felt this way, they said that the rand is showing a little stability, along with Moody’s having not downgraded the credit status and petrol prices on the decline, signalled improvement. All of 2018’s problems have certainly not been solved, and inflation is still causing stress, but as it stands Seeff are expecting things to improve as the year wears on.

They also looked at some of the sectors in the market at present, and said that business was continuing to roll on, especially in the “have to buy and have to sell” part of the market. This is mainly made up of homes on the market for between R1m and R3m, with sellers able to conclude deals in a decent space of time, as long as their prices were realistic.

To ensure the best results in the tough conditions, their advice is to find a local property expert that fully understands the current needs and trends in your specific area.