IT’S A BUYERS MARKET, EXPERTS SAY, AS BANKS OPEN THEIR PURSES TO MORTGAGE LENDERS: [an extract from an article by: Vernon Pillay Digital Journalist – IOL Business – 23 August 2024]
As inflation dips and the prospect of a cut in the interest rate looms, now may be the right time to buy property, says property expert Samuel Seeff.
“Nobody rings a bell and announces that the market has hit the bottom and that it is now a good time to buy, but the signs are pointing in that direction,” the chairperson of the Seeff Group says.
This week, StatsSA has noted that inflation has dipped to 4.6% from 5.1 % in June to the lowest level since mid-2021.
Seeff says this dip in inflation provides a huge incentive for rate cuts.
The Original Full article can be viewed here: → https://www.iol.co.za/property/residential/its-a-buyers-market-experts-say-as-banks-open-their-purses-to-mortgage-lenders-70e18033-a478-43a3-8ec6-467a8c1b6c70