Property Brief – June 2024

The latest BetterBond Property Brief is out!

This edition of Property Brief comes at a time when South Africans are contemplating the results of the national elections, as well as the Reserve Bank’s decision to once again keep the interest rate on ice. Despite fears that elections could have caused further instability in our economy, BetterBond has seen a 4.2% quarter-on-quarter increase in new home loan applications. Even though the year-on-year increase was more muted, it signals a measure of stability returning to the residential property market. With the consistent decline in the consumer price index (CPI), there is increased hope that the Reserve Bank will finally drop interest rates to ease financial burdens on homeowners and open the property market to more prospective buyers.

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

In the Economist’s Notes, Dr Roelof Botha unpacks the election outcomes and explains why South Africa’s economy is maturing. With another month of no load shedding, marginal GDP growth and exceptional global rankings for the popularity of hosting conferences, South Africa can be proud of its achievements despite many challenges. All we need now, he explains, is for the Reserve Bank to end its restrictive monetary policy. The restrictive policy is holding economic growth back.

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