Property Brief – July 2024

The latest BetterBond Property Brief is out!

With national elections behind us, our July Property Brief aligns with the positive sentiment we’ve seen as a result of promising election results. As expected, the new home loan activity that started in the first quarter of 2024 was put on ice in the second quarter mostly due to uncertainty and fear of instability. Fortunately global capital markets and domestic business leaders have received the election outcome well. With the new Government of National Unity (GNU) committed to preserving our constitution and maintaining the principle of private property rights we can expect to see a recovery in the residential property market. All we need now is for the Reserve Bank to bring an end to its restrictive monetary policy.

The full list of data points included in this Property Brief, is as follows:

In the Economist’s Notes, Dr Roelof Botha explains why South Africa’s second government of national unity (GNU) is good news for the business sector. Although the road will be bumpy, if the GNU remains committed, we could see a higher level of economic growth. It’s also comforting to know that the easing of lending rates is predicted to happen sooner rather than later. Further proof of the new-found optimism, says Botha, is the recent stellar performance of the rand against the dollar.

Missed last month’s insights? Read the June 2024 BetterBond Property Brief here.