Sellers may be in for a windfall
Photo: Shelley Christians, MediaClubSouthAfrica.com
The property market may be set for a turnaround, thanks to the banking
sector easing its lending criteria, writes Eugene Goddard
Industry experts are hesitant to announce a resurgence in the property market
A
fter a long spell of buyers holding sway, South Africa’s
property market seems to be swinging towards sellers,
with stock prices rising sharply as demand surpasses
supply.
It bears all of the signs of recovery, of course, but
leading realtors are reluctant to speak of resurgence, preferring rather
to approach recent activity in the market with measured reservation.
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BANKER SA
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Seeff sales manager for Pretoria, Otto Pagel, says: “I won’t
speak of an outright turnaround favouring sellers as yet, but
there certainly is improvement. The fact that interest rates
remain relatively low and that banks such as Standard appear
to be easing their lending criteria, mortgaging as much as 80%
of house prices compared to 60% as in the recent past, definitely
bodes well.”
Edition 10
2014/06/24 1:51 PM