Data from BetterBond’s latest Property Brief calls for cautious optimism. The improvements in loan values and volumes suggest that the property market slowdown of the last two years may have bottomed out.
However, amid restrictive monetary policy, the number of new applications for the 12 months to April 2024 remained 15% lower than the prior 12-month period, even if the April index for new home loan applications was 2.3% higher than the first quarter of 2024. “At a time of great uncertainty, as South Africans prepare to head to the polls, there is some comfort in evidence of the property market’s resilience, as house prices continue to strengthen, albeit modestly,” said Bendall.
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